Jio Platforms

Last updated

Jio Platforms Limited
Company type Subsidiary
IndustryTechnology
Founded2019;6 years ago (2019)
Founder Mukesh Ambani
Headquarters Navi Mumbai, Maharashtra,
India
Area served
Worldwide
Key people
Akash Ambani
(Chairman)
Kiran Thomas
(CEO)
Products
RevenueIncrease2.svg₹128,218 crore (US$15 billion) (2025)
Increase2.svg₹64,170 crore (US$7.6 billion) (2025)
Increase2.svg₹26,109 crore (US$3.1 billion) (2025)
Total assets 63,000,000,000 United States dollar (2023)  OOjs UI icon edit-ltr-progressive.svg
Owners
Parent Reliance Industries
Subsidiaries
Website www.jio.com
Footnotes /references
Financials as of 31 March 2025. [3]

Jio Platforms Limited is an Indian multinational technology company, headquartered in Mumbai. It is a subsidiary of Reliance Industries. Established in 2019, it acts as a holding company for India's largest mobile network operator, Jio, and other digital businesses of Reliance. [4]

Contents

In 2020, Jio Platforms raised ₹152,056 crore (US$20.52 billion) in exchange for 32.97% equity stake in the company. [5] [6] [7] In August 2021, it was ranked 155th on the 2021 Fortune Global 500 list of world's biggest corporations. [8]

History

The telecom network Jio was soft-launched on 27 December 2015 with a beta for partners and employees, [9] [10] and became publicly available on 5 September 2016. It is the largest mobile network operator in India and the third largest mobile network operator in the world with over 42.62 crore (426.2 million) subscribers. [11] In September 2019, Jio launched a fibre to the home service, offering home broadband, television, and telephone services.

In October 2019, Reliance Industries announced the creation of a wholly owned subsidiary for its digital businesses including Jio. In November 2019, the subsidiary was named Jio Platforms. The ₹1.08 trillion (US$15.34 billion) liability of Jio was transferred to Reliance and in turn Reliance received preferential shares of Jio Platforms. [12] [13] According to some observers, the restructuring was done to keep the digital businesses of the group within a debt-free entity. [14]

In April 2020, Facebook acquired a 9.99% stake in Jio Platforms for ₹435.74 billion (US$5.88 billion). [15] According to this deal, while Jio Platforms retained ₹149.76 billion (US$2.02 billion), the parent company got the remaining ₹285.98 billion (US$3.86 billion) for redeeming the optionally convertible preference shares it held in the subsidiary. [14]

In May 2020, private equity firm Silver Lake Investors obtained a 1.15% stake with a ₹56.5 billion (US$762.49 million) investment in the company. [16] But unlike the previous transaction, the entire investment in this case was retained by Jio Platforms. [14] General Atlantic then announced that it would invest ₹65.988 billion (US$890.53 million) in Jio Platforms for a 1.34% stake in the company. [17] American private equity firm KKR acquired a 2.32% stake in Jio Platforms for ₹113.67 billion (US$1.53 billion). [18]

In June 2020, Emirati sovereign fund Mubadala confirmed that it would acquire a 1.85% stake in the company for ₹90.936 billion (US$1.23 billion). [19] Silver Lake increased its stake to 2.08% with an additional ₹45.47 billion (US$613.63 million) investment. [20] Abu Dhabi Investment Authority then bought a 1.16% stake in the company for ₹56.84 billion (US$767.08 million). [21] On 13 June, TPG took stake in Jio Platforms of 0.93% worth ₹45.468 billion (US$613.61 million). [22] L Catterton also made an investment of ₹18.945 billion (US$255.67 million) for a 0.39% stake. [23]

In June 2020, Saudi Arabia's Public Investment Fund confirmed that it would acquire a 2.32% stake in the company for ₹113.67 billion (US$1.53 billion). [24] In July 2020, Intel confirmed that it would acquire a 0.39% stake in the company for ₹1.89 billion (US$25.51 million). [25] In July 2020, Qualcomm confirmed that it would acquire a 0.15% stake in the company for ₹7.30 billion (US$98.52 million). [26] This was followed by Google purchase of 7.7% stake in the company for ₹337.37 billion (US$4.55 billion). [27]

In June 2021, Jio Platforms unveiled their Android smartphone named JioPhone Next, with plans to launch in India by September 2021. [28]

In February 2022, Jio Platforms formed a joint venture with satellite operator SES. The newly formed Jio Space Technology Limited will deliver broadband services in India of up to 100 Gbit/s capacity using SES's SES-12 high-throughput geostationary satellite and the O3b mPOWER medium Earth orbit satellite constellation, to extend JPL's terrestrial network, enhancing access to digital services in unconnected areas within India and the region. JPL and SES will own 51% and 49% equity stake respectively in the new company. [29]

In December 2023, Jio Studios decided to back out of producing upcoming Akshay Kumar movies Hera Pheri 3 and Welcome to the Jungle. [30]

In the companies 47th annual general meeting chairman Mukesh Ambani unveiled the Artificial Intelligence platform JIO Brain. [31]

Businesses

Consumer platforms

Enterprise platforms

Acquisitions and investments

Several companies acquired by Reliance Industries are now under Jio Platforms: [57]

NameTypeAmountStakeRef
Haptik AI-based conversational platform$100 million87% [58]
EmbibeAI-based educational platform$180 million72.69% [59]
Radisys Telecommunication technology$75 million100% [60]
Fynd [61] Internet marketplace platforms, E-commerce$15 million87% [61]
EasyGov [62] Citizen convenience services$10 million83% [62]
SankhyaSutra LabsSimulation services83% [63]
C-SquarePharmaceutical technology platform82% [64] [65]
KareXpertDigital healthcare platform₹10crore [66]
VideoneticsVideo surveillance technology [67]
Covacsis TechnologiesIOT [68]
NEWJ [69] Media₹5crore [70]
Two PlatformsArtificial reality25% [71]

See also

References

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  2. ↑ "Jio Platforms Limited". CRISIL. Retrieved 8 July 2025.
  3. ↑ "Financial Results Presentation FY 2024-25 / 4Q FY2025" (PDF). ril.com. Reliance Industries Limited. Retrieved 26 April 2025.
  4. ↑ Kalyanaraman, Anand. "The financial engineering behind the Great Jio Fund-raise". Business Line. Archived from the original on 8 February 2021. Retrieved 31 January 2021.
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