Jio Platforms will look beyond telecom connectivity to artificial intelligence (AI), cloud computing, connected devices and space-based connectivity as it enters its next phase of growth, Managing Director Akash Ambani said on Wednesday. His remarks came as Reliance Industries-backed Jio Platforms made a blockbuster stock market debut, listing at Rs 1,358 per share, a 21 percent premium to its IPO issue price of Rs 1,119.
At a market capitalisation of Rs 12.6 lakh crore, Jio Platforms became India's second most valuable listed company after parent Reliance Industries.
Speaking at Jio Platforms' listing ceremony at the National Stock Exchange (NSE), Ambani said the company's first decade had been focused on democratising mobile data and making digital connectivity affordable to millions of Indians. He said the next phase would involve making a wider range of technologies accessible across the country.
"In our first 10 years, we democratised data," Ambani said, outlining ambitions to extend that approach to AI, cloud, connected devices, space connectivity and digital services yet to be developed. "We want to democratise every technology that can transform the lives of Indians," he said.
Ambani said Jio plans to integrate connectivity, computing and AI to expand its digital services across India, including in regional languages. He said Jio wanted to ensure that emerging technologies reached people across the country rather than remaining limited to a relatively small section of the population. The strategy builds on Jio's existing telecom infrastructure and its growing digital services businesses.