Jio is a technology company, not just a telco, says Akash Ambani ahead of mega IPO
- On Wednesday, October 21, 2026, Jio Platforms Ltd.'s initial public offering opened and achieved full subscription within 100 minutes, making it India's fastest-subscribed IPO seeking to raise Rs 30,213 crore.
- Managing Director Akash Ambani pitched the Reliance Industries unit as a technology company on Tuesday, stating artificial intelligence and cloud ambitions will drive growth beyond telecom. "There is no either-or at Jio: the network is our technology," he said.
- On Monday, institutional demand for the anchor book reached more than 30 times available shares, with the company allotting ₹8,110 crore to 212 investors at ₹1,119 apiece. Jio is valued at roughly $108 billion.
- Broadening participation, Jio reserved shares for eligible Reliance shareholders and employees while leveraging working partnerships with Google and Meta to distribute enterprise products across India. "Both are working partnerships, not just shareholdings," Ambani said.
- Proceeds of up to ₹27,500 crore will repay borrowings at Reliance Jio Infocomm, providing financial flexibility for 5G, broadband, and enterprise services. The company targets satellite connectivity and next-generation 6G technology as future development areas.
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Jio Platforms IPO Fully Subscribed Within Minutes, QIB Portion Subscribed 3.77 Times
Jio Platforms' initial public offering (IPO) received a strong response on the opening day, with the issue fully subscribed within minutes of opening. Qualified Institutional Buyers (QIBs) led the demand, bidding for nearly four times the shares reserved for them, while
Jio Platforms IPO fully subscribed within minutes, QIB portion booked over 3x so far, check latest GMP
The Jio Platforms' IPO saw the portion marked for Qualified Institutional Buyers (QIBs) fully subscribed at over 3x demand, within a few minutes of the issue opening on Wednesday.
Jio Platforms IPO: QIB Portion Sees Over 2x Demand on Opening Day
The Qualified Institutional Buyers (QIBs) portion of the Jio Platforms IPO was fully subscribed at over 2x demand within minutes of its issue opening on Wednesday, indicating strong institutional interest in India's largest public issue.
Reliance Industries Stock Update: Share Price Rises on Jio IPO Opening | 📰 LatestLY
Reliance Industries (RELIANCE) share price is up +1.05% at ₹1,214.60 in a live market update, driven by the opening of its Jio Platforms IPO and US Secretary of State's visit to Jamnagar. 📰 Reliance Industries Stock Update: Share Price Rises on Jio IPO Opening.
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