Akash Ambani says Jio IPO is a great responsibility as Reliance eyes massive listing

Akash Ambani has described the upcoming Jio IPO as a "great responsibility" and the "start of a journey" for Reliance Industries, expressing confidence that the highly anticipated float will draw massive interest from both domestic and international investors.

Speaking on the sidelines of the India Mobile Congress in New Delhi, the Reliance Jio Chairman said the company is "working very hard" towards the public listing. When asked whether the debut of Jio Platforms would secure the title of the biggest initial public offering in Indian corporate history, Ambani said he was "hopeful" of achieving that milestone.

While the telecom giant has not yet detailed its formal timeline, reports indicate that Jio Platforms is targeting an ambitious market valuation of ₹11 lakh crore. A successful share sale of this scale would represent a historic moment for its parent conglomerate, Reliance Industries, which has not floated one of its major businesses on the public markets in about three decades.

A market debut of this size would have ramifications far beyond Reliance. Brokerage firm Motilal Oswal recently noted that the offering is likely to trigger a wider re-rating for the entire Indian telecom sector, potentially boosting the valuation of its chief rival, Bharti Airtel, alongside it.

Jio enters the run-up to its IPO with immense scale. The operator recently crossed the milestone of 50 crore subscribers, cementing its position as the dominant player in India's digital ecosystem. Ambani emphasised that the company's primary driver remains delivering "extreme value" to its massive customer base and ensuring that digital services remain accessible to everyone.

"We want to democratise the technology to the last level of India," Ambani said. "Whether it be through new services and really increase their ability to consume digital services to the next level."

He also advocated for India's technological independence, stating that the country needs to develop and rely on its own "indigenous stack of technologies" as it builds out its digital infrastructure.

The comments come at a sensitive moment for the broader telecom sector. Rival operator Bharti Airtel recently raised the tariff of its postpaid plans by ₹50 across the board. In India's tightly contested telecom market, price hikes by one player have historically prompted rivals to follow suit. So far, neither Jio nor Vodafone Idea has announced corresponding increases.

When asked directly about the prospect of tariff hikes, Ambani avoided committing to any price increases, pointing instead to Jio’s history of market disruption and low pricing.

"What we want to do is ensure that we are giving disruptive value to our consumers," Ambani said. "We've always stood for the mission of inclusivity, and that comes from great affordability, and that's what we'll continue to do."