Last Updated:
‘There are moments that celebrate years of perseverance. Jio’s IPO is one such moment,’ says Uday Kotak.
Uday Kotak speaks at the Jio Platforms IPO press conference on Thursday.
Veteran industrialist Uday Kotak on Thursday described Jio Platforms’ upcoming initial public offering (IPO) as a landmark moment, saying the issue celebrates years of perseverance and reflects the transformation of India into a data-abundant nation over the past decade.
“There are moments that celebrate years of perseverance. Jio’s IPO is one such moment,” Kotak, who is founder and director of Kotak Mahindra Bank, said while speaking at the Jio Platforms IPO press conference.
Highlighting the company’s market position, Kotak said Jio’s growth had translated into undisputed leadership in India’s mobility and home broadband markets.
“Jio is the only player in the world with a proprietary end-to-end digital connectivity stack,” he said.
The Jio Platforms IPO will open for subscription on Wednesday, October 21, and close on Friday, October 23. The bidding window for anchor investors is scheduled for Monday, October 19, according to regulatory filings by Reliance Industries.
“The impact of Digital India in making data accessible is amazing,” he said, recalling how India had moved from having fewer than one crore 4G customers to a data-abundant nation with around 100 crore 4G and 5G customers in just 10 years.
Kotak said the transformation demonstrated the scale of change brought about by India’s digital revolution, with Jio playing a central role in expanding access to data and digital services across the country.
He described the proposed public offering as historic, noting that it comes from the Reliance Industries group after nearly two decades and is set to be India’s largest-ever IPO.
Kotak also highlighted the next generation of leadership at Reliance, crediting Akash Ambani and Isha Ambani with building new-age businesses in digital services and retail under the guidance of their father, Reliance Industries Chairman Mukesh Ambani.
“The RIL group is India’s largest conglomerate, basis listed market capitalisation,” he said.
Recalling his personal association with Reliance’s public-market journey, Kotak said he was 18 when he witnessed Marine Drive in Mumbai illuminated as part of the promotion for Reliance’s IPO.
“That was a magic moment for me. It had an influence on my career in financial services,” he said.
Kotak expressed gratitude to Reliance founder Dhirubhai Ambani for his emphasis on accessing public markets and creating value for investors.
He said the memory had come back to him as he attended another significant occasion in Reliance’s corporate history, with Jio Platforms preparing to enter the public markets.
Jio, he said, has helped usher in India’s digital revolution, touched crores of lives and continues to shape the country’s future.
Disclaimer: News18 is part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Quick Answers
Ask News18The Jio Platforms IPO will open for public subscription from Wednesday, October 21, to Friday, October 23, while the bidding window for anchor investors is scheduled for Monday, October 19, according to regulatory filings and press announcements.
Ask News18About the Author
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, w…Read More
October 15, 2026, 4:09 PM IST
Read More
Source link
[ad_3]
