'Blockbuster Success': Akash Ambani Thanks Investors For Overwhelming Response Towards ₹30,213 Crore Jio IPO

Jio Platforms Managing Director Akash Ambani on Wednesday thanked domestic and international investors for their overwhelming response to the company's ₹30,213 crore initial public offering (IPO), which was fully subscribed within 95 minutes of opening.

Addressing the listing ceremony at the National Stock Exchange (NSE), Ambani said investor participation had exceeded expectations and established new benchmarks.

"My heart overflows with gratitude. Gratitude to every individual, every institutional investor in India and abroad, who made our IPO a blockbuster success," he said.

Jio Platforms IPO Attracts Nearly 1.4 Crore Applications

Ambani said the offering attracted demand exceeding ₹7.5 lakh crore, reflecting strong confidence among investors.

The issue surpassed Hyundai Motor India's ₹27,870 crore offering in 2024 to become India's largest IPO.

According to the reported subscription figures, the public issue received nearly 1.4 crore applications, with bids worth approximately ₹7.4 lakh crore.

Qualified institutional buyers led the response, subscribing 70.55 times their allocated portion, while non-institutional investors subscribed approximately 14 times.

Ambani pledged to take Jio to greater heights of growth, excellence and reputation while delivering sustained value to shareholders.

Akash Ambani Highlights Digital Inclusion

Reflecting on Jio's journey, Ambani said the company's achievements were driven by the people its technology empowered.

He recalled Anjali, a young girl from a mountainous region of Kerala who previously walked two kilometres uphill daily to access mobile connectivity for school lessons.

According to Ambani, Jio's network eliminated that difficulty.

He said Jio's homegrown platforms now served more than 540 million customers.

Recalling the company's beginnings, Ambani said Jio initially had neither customers nor revenue but pursued the vision of making affordable, world-class technology accessible to Indians.

He also remembered Jio crossing 100 million subscribers on Feb 20, 2017.

Ambani pledged to protect investors' trust by creating lasting customer value, drawing inspiration from Reliance Industries' nearly five-decade record of shareholder wealth creation.