THEBUSINESSBYTES BUREAU

MUMBAI, OCTOBER 28, 2026

Jio Platforms Ltd's initial public offering (IPO) was fully subscribed within 95 minutes, attracting record demand of over Rs 7.5 lakh crore from more than 1.3 crore Indian investors, its Managing Director Akash Ambani said on Wednesday, as the company embarked on a new phase of growth following its stock market listing.

Addressing the listing ceremony, Ambani said the overwhelming investor response to what he described as India's largest IPO had surpassed expectations and placed a profound responsibility on the company to protect and grow shareholders' wealth over the coming decades.

He said the IPO had broken records across investor categories, reflecting confidence in Jio's business model and India's digital growth potential.

"Before the IPO, all our subscribers said: 'Jio maine banaya'. Now, I say to every single shareholder: 'Hum sab milkar naya Jio banayenge'," Ambani said, underlining the company's commitment to creating long-term value for investors.

He said Jio, which began with the ambition of providing every Indian affordable, world-class technology, now serves more than 540 million customers through its homegrown platforms.

Recalling the company's early days, Ambani said Jio had no customers or revenue when he joined, but a clear vision of transforming India's digital landscape. He highlighted how affordable connectivity had expanded access to education and opportunities, particularly in remote areas.

"Never let today's achievement limit tomorrow's ambition," he said, recalling the milestone of crossing 100 million subscribers in February 2017 and the subsequent ambition of reaching 500 million customers.

Outlining the next phase of expansion, Ambani said Jio would focus on democratising technologies such as artificial intelligence (AI), cloud computing, connected devices, satellite connectivity and digital services yet to be developed.

He said the company's ambition was to build a truly digital society in which connectivity, computing and intelligence worked seamlessly, enabling people across India's regions and languages to participate in economic progress.

Emphasising indigenous innovation, Ambani said the technology and platforms developed by Jio engineers and professionals were "Made in India and Made for India", adding that the company was preparing to take its capabilities to global markets.

He credited the vision of Reliance founder Dhirubhai Ambani and the leadership of his father, Mukesh Ambani, for laying the foundation for Jio's digital ambitions.

Ambani said the listing marked a beginning rather than a culmination, promising transparent communication, execution of commitments and sustained efforts to earn investor confidence.

"What Reliance has done for shareholders for nearly fifty years, Jio will continue to do so for the next fifty," he said.

He added that customer value creation and shareholder returns were inseparable, pledging that Jio would continue to innovate, expand its technological capabilities and strengthen its position in India and overseas.