Jio IPO response surpassed our imagination, records broken in every investor category: Akash Ambani

He said investor demand had surpassed expectations and set records across categories, adding that the issue attracted demand worth more than Rs 7.5 lakh crore. Catch live updates of Jio Platforms IPO listing “We were fully subscribed for India's largest IPO within 95 minutes of launch, the fastest ever India has seen,” he said. He pledged to take Jio to "greater heights of growth, excellence, and reputation" in India and the world.

Jio Platforms' Rs 30,213-crore IPO was India's largest public issue, surpassing Hyundai Motor India's Rs 27,870-crore offering in 2024. The issue attracted bids worth around Rs 7.4 lakh crore and received nearly 1.4 crore applications. The strong response was led by institutional investors, with the qualified institutional buyers (QIB) category subscribed 70.55 times. The non-institutional investor category was subscribed 14 times.

Jio’s success was driven not just by technology but by the people it empowered, as he pledged to create value for shareholders over the coming decades following the company’s listing. “What energised us, and energises us today, day after day, was never the technology, but the people it empowered,” Ambani said. Recalling the story of a young girl named Anjali from a mountainous pocket of Kerala, he said she used to walk two kilometres uphill every day to find data connectivity on her mother’s phone and download her school lessons.

He said Jio’s services ended the exhausting daily trek. “When we ring the bell today to mark our listing, we remember the millions of Anjalis across India,” he said. Ambani said Jio’s success should be measured by the ambitions it encourages and the potential it unlocks towards building a better India. The company’s homegrown platforms now serve more than 540 million customers, he said. Recalling Jio’s early days, Ambani said that when he joined the company, it had no customers or revenue, but had a big idea and a team that believed every Indian deserved affordable, world-class technology.

He also recalled February 20, 2017, when Jio crossed 100 million subscribers. On a lighter note, he said his father had told him he could not get married until the company reached that milestone, giving him two reasons to celebrate. Addressing shareholders, Ambani said their trust came with a responsibility to protect and grow the company over the decades by creating value for customers. “You have put your trust in Jio, and you are Jio’s shareholders.

Our duty is to protect it, grow it, decade after decade. The only way is by creating disproportionate value for our customers,” he said. He added that Jio would follow the example set by Reliance Industries in creating shareholder value over nearly five decades.