Akash Ambani, Managing Director of Reliance Industries’ Jio Platforms, stated on Tuesday that the company is expanding beyond telecommunications to focus heavily on technology, artificial intelligence, and cloud computing. He emphasized that Jio is not merely a telecom company but a significant technology player. Speaking ahead of Jio’s historic initial public offering (IPO) opening to retail investors, Ambani explained that telecommunications and technology are inseparable for Jio, as their network is fundamentally their technology.
Growth Plans and IPO Details
Jio Platforms aims to raise over ₹30,200 crore through its IPO, which places the company’s valuation near $108 billion. This IPO comes as investors closely watch the country’s largest telecom firm leveraging its vast user base to increase revenue from digital services, enterprise technology, and artificial intelligence. Simply growing the subscriber base no longer guarantees rapid business expansion. Jio has also identified satellite connectivity and next-generation 6G technology as strategic growth areas for the future.
Ambani outlined that Jio’s 5G core network, cloud-based radio network, and proprietary software platform have been developed in-house. These services currently support 533 million customers nationwide. Connectivity was the initial product offered, and the company is now sequentially integrating digital services, AI, and cloud technologies into its platform.
Diverse Business Opportunities
Jio’s growth prospects include mobile services, home broadband, and enterprise digital solutions. Despite India’s widespread mobile usage, approximately 260 million people still rely on 2G services, and only around 21% of homes have fixed broadband access. In the fiscal year 2025-26, Jio accounted for 67.56% of India’s net fixed broadband growth. Furthermore, fewer than 3% of over 79 million micro, small, and medium enterprises (MSMEs) have adopted digital services, presenting vast opportunities for expansion.
According to Ambani, Jio’s strategy focuses on increasing its customer base, deepening engagement, and offering more services per customer. Currently, the average Jio user consumes 43.7 GB of data monthly. He suggested that pricing is just one part of the larger growth story.
Financially, Jio improved its net debt-to-EBITDA ratio to 0.36x in 2025-26 compared to 0.88x in 2023-24. The IPO proceeds will enable greater investment in 5G, broadband, AI, cloud, and enterprise services. Jio also plans to expand its technology operations internationally through partnerships with local operators.
The company is exploring the development of a domestic satellite constellation and ground stations to improve connectivity in remote areas. It is also seeking collaborations with global satellite service providers. Long-term plans include evolving 6G technology with a mostly software-based approach to upgrade networks seamlessly.
Jio has applied for 7,220 patents and ranked among the top 20 companies globally in the World Intellectual Property Organization’s Patent Cooperation Treaty filings in 2025. About 45% of Jio’s full-time workforce, approximately 12,477 employees, work in digital products and technology development. The IPO includes reservations of ₹2,500 crore for eligible Reliance shareholders and ₹500 crore for employees, with at least 35% of the issue reserved for retail investors.
Ambani recalled his grandfather Dhirubhai Ambani as a pioneer of equity culture in India. The IPO aims to enable families connected to Reliance for generations to participate directly. Global technology investors like Google and Meta are expected to play vital roles in Jio’s expansion. Google’s AI Pro Plan will be offered free to Jio users for 18 months. A joint venture involving Reliance Intelligence and Meta plans to provide enterprise AI products in India. The IPO opens on October 21 and closes on October 23, targeting ₹30,213 crore from issuing new shares only, with a price band set between ₹1,065 and ₹1,119 per share.
