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Jio's ₹76,000-crore EBITDA powers global tech ambitions as it eyes $1.4-trillion digital opportunity

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Jio's ₹76,000-crore EBITDA powers global tech ambitions as it eyes $1.4-trillion digital opportunity

Jio Platforms reported EBITDA of ₹76,000 crore, marking 17.8% three-year growth as the Reliance Group tech major prepares to enter markets with a record-breaking initial public offering (IPO).

Akash Ambani, managing director of Jio Platforms, highlighted the company's contribution to India's digital expansion and its ambition to make digital services accessible to every Indian.

Speaking at a press conference ahead of the IPO, Akash Ambani said, “The basis of our EBITDA growth has been powering over 60% of India's digital growth. We have an EBITDA of ₹76,000 crore, with a three-year growth of 17.8%.”

He also outlined the company's mission to expand access to digital connectivity and services across the country.

“The mission of Jio is simple: to connect every Indian home, every Indian citizen, and every Indian enterprise with the highest quantity and most affordable digital services,” he said.

Akash Ambani highlighted Jio's 5G rollout, which began three years ago, saying the company has since built the world's largest 5G customer base outside China.

He also said Jio had achieved what he described as the fastest migration from 4G to 5G. The company's connectivity infrastructure is expected to remain central to its plans to expand its portfolio of digital products and services.

“And we did the fastest 4G-to-5G migration anywhere. We believe India has been a data-scarce nation because supply was constrained. Jio entered the market as the 14th operator in 2016,” he added.

Jio Platforms is set to raise ₹30,213 crore through its IPO, which is expected to surpass Hyundai Motor India's ₹27,859-crore issue in 2024 and become India's largest public offering by fundraising.


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