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Highlights
- Reliance Jio, India's largest telecom operator, on Wednesday got listed on the Indian stock exchanges.
- The stock of Jio Platforms Limited (JPL) opened at close to Rs 1,360, which was up more than 20%.
- This was a successful listing for Jio, and the company raised an amount of money no other company ever has.
Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Reliance Jio, India’s largest telecom operator, on Wednesday got listed on the Indian stock exchanges. The stock of Jio Platforms Limited (JPL) opened at close to Rs 1,360, which was up more than 20%. This was a successful listing for Jio, and the company raised an amount of money no other company ever has. Akash Ambani, Chairman of Jio Platforms Limited (JPL), said that listing is not the company’s destination.
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“It is a new beginning. It brings with it greater responsibility, higher expectations, and an even bigger opportunity to shape India’s digital future,” Ambani said in a letter to company’s employees.
Reliance Industries had created a reserved portion for the Jio employees to participate in the stock listing. Ambani said, “hard work, belief in JPL’s mission, willingness to challenge convention and your relentless pursuit of excellence have made this historic moment possible.”
Reliance Jio currently serves more than 530 million mobile customers in India. The company came into operations a decade back in 2016, in September. In just 10 years, Jio has achieved the kind of scale that takes companies several decades to build.
“In just 10 years, Jio has grown from a bold vision into one of India’s most consequential enterprises, culminating in India’s largest-ever IPO,” Ambani said.
Jio made data affordable for millions of Indians. The telco has now found new growth areas which can be used for ensuring higher returns in the future. Jio is not only selling traditional services in the telecom space, but is truly moving ahead as a technology company, by innovating in the AI (artificial intelligence) world as well.
