Mr. Kotak, Chairman, Kotak Investment Banking respectively at the Jio IPO Media Meet held on October 15, 2026

Uday Kotak, Chairman, Kotak Investment Banking: Friends, I extend a very warm welcome to all of you on this historic occasion. I do it on behalf of Jio Platforms, all the book-running lead managers on an occasion which I think is truly a remarkable one. Jio ushered India’s Digital Revolution, touching everyday lives of crores of Indians, and continues to define India’s digital future.

I recollect my memories from when I was 18 years old. This was Marine Drive and Chowpatty… 1977. And one evening, I found all of Chowpatty and Marine Drive lighted up. And I was told this is the IPO, marketing, and positioning of a company called Reliance Textile Industries, started by Dhirubhai Ambani.

And I’m happy to say here today, it was a magic moment for me. It had an influence in my thinking about a future in financial services, So, I'm grateful to Dhirubhai for the initial importance of going to the public, going for investors, creating value for all investors. And therefore, I reminisce that moment today when we are here for another unique occasion.

The RIL Group, after Jio's listing, will be India’s largest conglomerate basis listed market cap under the transformational leadership of Chairman Shri Mukesh Ambani over the last few decades. This historic IPO comes from the RIL Group after nearly two decades. It will be India’s largest IPO ever at Rs 30,188 crores at the upper end of the price pack. And, it is also a testament to the development of the next generation of leadership – Akash Ambani and Isha Ambani – who are building new-age businesses across Digital Services and Retail… of course, under the watchful eye of the leader, the father.

What differentiates the Jio platform? 53 crore customers. Extraordinary execution. I remember 2016 or around… and many of the other players were saying, ‘What are Reliance Group going to do?’ But when they came, they came with a bang, and they transformed the concept of how mobile connectivity and digital in India would be in the years to come.

And it's transformed the lives of an individual who got much lower price for the service and democratised connectivity in our country. So, we are all very proud and grateful that this transformation happened over the last 10 years.

It is also Jio is also the only player globally with proprietary end-to-end digital connectivity stack. The impact of Digital India in making data accessible is amazing. From a data-scarce nation of less than one crore 4G customers to a data-abundant nation of 100 crore 4G and 5G customers… it's all happened in the last 10 years.

All these have translated to undisputed leadership in the marketplace in India, both in mobility and home broadband customers and subscribers. Akash Ambani will take you through the specifics, but the rate of growth is also high and consistent over time, and continuously clocking newer highs. Revenue of Rs 1,46,885 crores, EBITDA of Rs 76,000-plus crores, close to an 18% growth is quite impressive at scale.

There are many other facts, friends. But I would like to share… some milestones are defined by their scale, some by the journey that leads to them. And then there are moments in history which transcend both. Moments that celebrate years of vision and perseverance.

Jio’s IPO launch is one such moment. It provides investors an opportunity to participate and benefit from the next phase of digital growth.

I now have the pleasure of inviting Isha Ambani to speak on this occasion.