Finance1 min read

Jio IPO a great responsibility: Akash Ambani

By · Published by Everything Blog

In short

Akash Ambani, son of Reliance Industries founder Dhirubhai Ambani, expressed confidence in the Jio IPO's valuation and commitment to investors. He stated, "The valuation, the investor - everything would be known at the right time." He emphasized that the listing would allow Jio to share its value with Indian citizens and bring a "great responsibility" with it.

Key points

  • Akash Ambani, son of Reliance Industries founder Dhirubhai Ambani, expressed confidence i…: Akash Ambani, son of Reliance Industries founder Dhirubhai Ambani, expressed confidence in the Jio IPO's valuation and commitment to investors.
  • He stated, "The valuation, the investor - everything would be known at the right time." H…: He stated, "The valuation, the investor - everything would be known at the right time." He emphasized that the listing would allow Jio to share its value with Indian citizens and bring a "great responsibility" with it.

Asked about the likely October-end initial public offer (IPO) and potential valuation, Ambani told ET, "The valuation, the investor - everything would be known at the right time. From my perspective, this is the biggest moment for us as a company."

Also read: Jio Platforms IPO: Rs 37,700 crore issue likely to open on Oct 21

He said the listing would allow Jio to share the value it has created with Indian citizens, bringing with it "a great responsibility".

Ambani said the commitment to investors was rooted in the principles established by his grandfather, Reliance founder Dhirubhai Ambani. "The group has always had a firm belief on investor relationships and really delivering shareholder value right down to the retail," he said.

"That's the basis of what my grandfather founded this company, and that's what we continue to do."

Jio Platforms filed its draft prospectus in June and received markets regulator's final observations on August 28.

The proposed offering could value Jio anywhere between $110-$140 billion, raising roughly $4 billion.

Original source: economictimes.indiatimes.com

Finance