Reliance Jio’s Rs 30,000 crore IPO will close on October 23, which is also the birthday of Akash and Isha Ambani. The public issue opens on October 21. This milestone marks a major step for the telecom giant, as the twins continue to lead the firm’s digital and consumer business growth.
Synopsis
Akash and Isha Ambani’s birthday on October 23 coincides with the closing day of Reliance Jio’s Rs 30,000 crore IPO. The listing marks a milestone for the telecom and digital business, which the twins have helped shape since its early years, as Jio prepares to enter India’s public markets.
Akash Ambani and Isha Ambani’s birthday on October 23 will now also mark the close of Reliance Jio’s mega IPO, turning a personal milestone for Mukesh Ambani's twins into a key date for India’s primary market. Jio Platforms has filed its red herring prospectus for an IPO of up to 27 crore equity shares. The anchor investor book will open on October 19, while the public issue will open on October 21 and close on October 23, according to the latest filing details.
The offer has also set aside shares worth up to Rs 500 crore for eligible employees and up to Rs 2,500 crore for eligible Reliance Industries shareholders.
Akash and Isha Ambani's rise in Jio
The timing gives the issue a symbolic edge because Akash and Isha, who were born on October 23, 1991, have been closely associated with Jio’s rise from its early days.
The IPO comes nearly a decade after Jio changed India's telecom market with cheap data, free voice and aggressive network expansion. It also comes at a time when Akash and Isha Ambani are taking a more visible role in the group’s consumer and digital businesses.
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Akash and Isha Ambani had taken the Jio IPO pitch global, with meetings aimed at large investors ahead of the proposed Rs 30,000 crore issue.
Akash Ambani is now the central executive face of Jio. According to Reliance Industries' own profile, he has been chairman of Reliance Jio Infocomm since June 2022 and is managing director of Jio Platforms. He was earlier a non-executive director on the Reliance Jio Infocomm board from October 2014. He is involved in products and digital services and spearheads work around 5G, artificial intelligence, blockchain and the Internet of Things.
His association with Jio goes back to the launch phase. Reliance says that under his leadership, Jio crossed the 100 million subscriber mark in less than six months of its 2016 launch and now serves more than 524 million customers. The company also credits him with helping attract more than $20 billion from investors including Meta and Google during Jio’s earlier private fundraising round.
Isha Ambani has also had an early Jio connection. She played a pivotal role in conceptualising and launching the group’s digital services business in 2016. She is part of the executive leadership teams at Reliance Retail, Reliance Jio and Reliance Foundation, while also serving as a director on the boards of Reliance Jio Infocomm and Jio Platforms.
The roadshow has put Akash Ambani in front of global investors at a crucial moment for the group. Reuters reported Akash was asked during pre-IPO investor meetings why Jio deserves a premium to rival Bharti Airtel and how the company plans to charge for digital services and platforms that are currently offered at no direct cost.
Speaking on the sidelines of India Mobile Congress 2026, he described the Jio IPO as the company's biggest move and a huge responsibility towards Indian shareholders. He said the listing should be seen as the beginning of a longer journey and that Jio would need to deliver growth and value after the public issue.
In another interview, Akash said he sees the IPO as a great responsibility for shareholders and assured that affordability would remain central to Jio’s strategy as it expands beyond connectivity into technology platforms and solutions.
Reliance Jio IPO details
The IPO is a marquee event for India's public markets this year as the company targets a valuation of about $106 billion, or around Rs 10.3 lakh crore, and that the issue could surpass Hyundai Motor India’s 2024 IPO, which is currently India’s largest.
The offer is entirely a fresh issue, which means existing investors such as Reliance Industries, Meta, Google, Mubadala and Saudi Arabia’s Public Investment Fund are not expected to sell shares. The proceeds will go to Jio Platforms. For Reliance Industries shareholders, the Rs 2,500 crore reservation gives a direct route to apply for shares in the company that has so far been held inside RIL.
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclosures here.
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