Akash Ambani outlines AI, Cloud and space connectivity push for Jio's next phase

New Delhi, Oct 28 (UNI) Jio Platforms made a strong debut on the stock exchanges on Wednesday, with its shares listing at a premium of 21.36 per cent over the initial public offering (IPO) price.

At the listing ceremony in Mumbai, managing director Akash Ambani outlined the company's technology ambitions for the next decade, with a focus on artificial intelligence (AI), cloud computing, connected devices and satellite-based connectivity. Akash said Jio's next phase of growth would centre on making advanced technologies accessible to Indians on a large scale.

The company aims to integrate connectivity, computing and intelligence to create a digital ecosystem that enables people across different regions and languages to participate more fully in the digital economy. Addressing the listing ceremony, Akash said, "Jio intended to expand access to technologies that could significantly change how Indians live and work. Its priorities include AI, cloud infrastructure, connected devices, space-based connectivity and digital services that have yet to emerge."

"The vision builds on Jio's first decade, during which the company sought to make mobile data affordable and bring millions of people into the digital economy. Akash said the next stage would extend that approach to newer technologies, with the broader objective of building a digitally connected society," he added.

He also expressed the ambition of turning Jio Platforms into a globally recognised technology company, rather than limiting its role to the Indian market. Akash said Jio had developed its technology capabilities within India to address the country's specific requirements. He added that India was increasingly moving beyond being a consumer of technology developed elsewhere to becoming a creator of technology and digital platforms.

According to him, many existing technology solutions were not designed to operate at India's scale, prompting Jio to develop its own capabilities from the ground up. Reflecting on the response to the public offering, Akash said the IPO was fully subscribed within 95 minutes of opening, describing it as the fastest subscription for India's largest IPO. Recalling Jio's early journey, Akash said the business began without an established customer base or revenue but with the goal of making world-class technology affordable to Indians. He highlighted February 20, 2017, when Jio crossed the 100-million-subscriber milestone. The company subsequently set its sights on reaching 500 million customers, a target it has since exceeded.

Addressing investors, Akash said Jio Platforms would focus on creating value for customers while protecting and growing shareholder wealth over the long term. He described the stock market debut as the beginning of a new phase rather than the culmination of the company's journey. Akash also pledged transparency in communication, adherence to commitments, and a continued effort to build investor confidence through the company's actions.

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