Reliance Jio is looking to capture a significant share of India's growing digital economy, which is expected to reach $1.4 trillion by the financial year 2030-31 (FY31), Akash Ambani, chairman of Reliance Jio, said on Thursday, ahead of the initial public offering (IPO) of Jio Platforms Ltd (JPL).
"We see goal of enabling India as a premier digital society. Jio Platform is as an able partner to enable that," he said at a press conference ahead of the IPO.
"Our pricing per GB stands at lowest anywhere in the world," Ambani said.
Jio Platforms is set to launch its IPO, seeking to raise up to ₹30,213 crore through a fresh issue of shares. The IPO will open for subscription on October 21 and close on October 23, 2026. Bidding by anchor investors is scheduled for October 19.
Ambani said Jio's mission was to connect every Indian home, citizen and enterprise with high-quality, affordable digital services. The company aims to strengthen its presence in India's digital economy as it expands beyond telecom services into areas such as artificial intelligence (AI), cloud computing and other digital technologies.
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Jio carries more than 60 per cent of India's data tariff, Ambani said, underlining the company's position in the country's telecom market.
He further added that Jio will use all the money raised through its IPO to repay debt as it works towards achieving a net debt-free position.
Jio submitted 7,220 patent applications
Jio Platforms has submitted 7,220 patent applications in India and abroad, making it the only Indian company among the world's top 20 applicants in the World Intellectual Property Organisation's (WIPO) 2025 Patent Cooperation Treaty rankings, Ambani said.
He said a team of more than 12,000 engineers has been driving the company's technology development.
On technology, Ambani said building its own had helped Jio develop a proprietary technology stack instead of relying entirely on external providers. "We built our own stack to serve our customers better," he said, pointing to the company's investment in research and development.
Jio Platforms is also preparing for the transition to sixth-generation (6G) mobile networks, with plans to rely on software upgrades instead of building an entirely new infrastructure, he said.
"6G is on our horizon. What this really means is that we will implement 6G as a software upgrade rather than through a new infrastructure build-out..." Ambani said.
He said the software-led approach could reduce the need to recreate the extensive physical infrastructure required for earlier generations of mobile networks, allowing Jio to move towards 6G through upgrades to its existing systems.
Jio expands AI services in Indian languages
Jio plans to expand its AI-powered services for Indian customers, including call summarisation and transcription in 12 Indian languages, Ambani said. The initiative aims to make AI services accessible to Jio's 530 million customers. Support for multiple Indian languages is expected to help more users across the country adopt these services.
Ambani said the tools could help users summarise conversations, transcribe calls and take action based on discussions.
Jio Platforms IPO: Key details
The company has set a price band of ₹1,065 to ₹1,119 per share. At the upper end of the band, the issue would raise ₹30,213 crore and value Jio Platforms at around ₹10.3 trillion, or approximately $108.3 billion, according to Reuters.
The proposed issue comprises up to 270 million fresh equity shares with a face value of ₹10 each. Since the IPO is a fresh issue, the proceeds will go to the company rather than to existing shareholders selling their shares.
Jio Platforms has reserved shares worth up to ₹500 crore for eligible employees and ₹2,500 crore for eligible Reliance Industries shareholders, including individuals and Hindu Undivided Families (HUFs). Eligible employees applying under the employee reservation portion will receive a discount of ₹54 per share.
The lot size has been set at 12 shares, with subsequent bids to be made in multiples of 12. Jio Platforms has filed its red herring prospectus (RHP) with the Registrar of Companies in Gujarat.