The announcement comes as India’s largest telecom operator by market share, with a 500 million consumer base, celebrates 10 years of operations.
“This (public listing) will demonstrate that Jio is capable of creating the same quantum of value as our global counterparts. It will be a very attractive opportunity for all investors,” he said.
In the June quarter, Jio Platforms Ltd, which houses RIL’s telecom and digital services business, reported a 1.2% sequential growth in consolidated net profit to ₹7,110 crore. Consolidated revenue from operations rose 3.07% sequentially to ₹35,032 crore. On a year-on-year basis, revenue grew 19% and net profit 25%.
Strong subscriber additions across mobile and home broadband, and increased data consumption on the company’s network, boosted the growth.
Jio’s announcement of the possible listing also comes at a time when the company has spent a significant amount rolling out 5G services and is also venturing into the satellite space, among other new artificial intelligence products.
The telecom operator is looking to bank on its Jio PC, a service that converts televisions into AI-enabled computers, for its entry into digital products. It will also launch Jio Frame, a smart glass, voice-enabled AI assistant with cameras.
“Jio today connects 500 million people, which is more than the combined populations of the US, UK, and France,” said Akash Ambani, the chairman of Reliance Jio. “With strategic partnerships and a clear roadmap, we will take Jio international.”
At 2:29 PM IST, RIL shares were down 1.27% at ₹1,366.50 on the BSE.
