Jio Platforms announces ₹35,000cr IPO, Akash Ambani cites shareholder value
Business
Jio Platforms, the parent company of Reliance Jio Infocomm Ltd, just announced plans for a massive ₹35,000 crore IPO, touted as the country's largest by a private company.
Jio Platforms Ltd's managing director, Akash Ambani, says this move is all about creating shareholder value and pushing tech forward for everyone.
Even Airtel's Sunil Bharti Mittal gave a nod of support.
Jio Platforms plans 1,600 broadband satellites
Jio isn't stopping there; they're working on launching 1,600 satellites to boost broadband across India and take on global giants like Starlink and Amazon's Leo.
Right now, they already reach 99% of Indian homes.
Meanwhile, Airtel just raised postpaid prices and still leads in average revenue per user (₹264 vs. Jio's ₹215.6), showing the telecom race is heating up.