Anant Ambani, at the recent Jio Platforms listing ceremony, extended his deepest thanks to Prime Minister Narendra Modi, attributing the company's purpose to the Prime Minister's Digital India vision. Ambani also acknowledged the millions of Indians, employees, and partners who have supported Jio since its inception, emphasizing a shared journey.
Jio Platforms Debuts with Significant Premium
Following the ceremony on Wednesday, October 28, Jio Platforms shares commenced trading at ₹1,358 apiece on both the BSE and NSE. This represented a substantial premium of 21.36 percent over the initial public offering (IPO) price of ₹1,119. The strong debut propelled Jio Platforms' valuation to approximately ₹12.5 lakh crore, positioning it as India's second most valuable company, after its parent entity, Reliance Industries Ltd.
“And our deepest gratitude to our Adarniya Pradhan Mantri Narendra Damodardas Modi ji, for the vision of Digital India that gave Jio its purpose and for his continuous guidance and support,” Ambani stated at the event.
Ambani's remarks echoed sentiments previously articulated by Reliance Industries Chairman Mukesh Ambani, who, a decade earlier, dedicated Jio's services to the Digital India initiative, aiming to provide affordable digital connectivity across the nation.
Gratitude and Shared Purpose
Describing the listing ceremony as an occasion for profound gratitude, Anant Ambani likened the exchange bell to a temple bell, stating, “for me, business is puja, and every puja ends with prasad. Prasad is always shared. Today Jio is shared with India.” He highlighted his family's legacy, referencing the entrepreneurial spirit of his grandfather, Dhirubhai Ambani, and his father, Mukesh Ambani, in striving for an empowered India.
The ₹30,200-crore IPO garnered significant investor interest, attracting nearly 1.39 crore applications and being subscribed 22.19 times. The combined demand from the public issue and anchor placement exceeded a remarkable ₹7.4 lakh crore. Jio Platforms, which counts major global tech players like Meta and Google's parent Alphabet among its investors, currently serves over 530 million customers.