Mumbai (Maharashtra) [India], October 15 (ANI): Jio Platforms plans to roll out next-generation 6G connectivity through a software upgrade rather than building out new physical infrastructure, Managing Director Akash Mukesh Ambani said on Thursday.

Speaking at the Jio Platforms IPO Press Conference, Ambani stated that the telecom major's underlying network infrastructure and proprietary core technology stack stand prepared for future technological transitions.

"Jio's first mission is to democratize technology to benefit Indians. 6G is on our horizon. What this really means is that we will do 6G as a software upgrade rather than a new infrastructure build-out," Ambani said.

Ambani explained that this technological readiness relies on an extensive network footprint comprising over 360,000 towers across India and more than 1 million route kilometres of fibre, alongside the largest spectrum bank in the industry.

The company, which marked its 10th anniversary on September 6, reports a subscriber base of 53 crore users. According to Ambani, the network currently carries over 60 per cent of India's digital data traffic, with customer consumption averaging 43.7 GB per month at an average download speed of nearly 200 Mbps.

"Today across 53 crore Indians, we give an average download speed of almost 200 Mbps. That's twice as fast as the other operators. Our pricing per GB stands at the lowest anywhere else in the world at almost Rs 5, Rs 4.9 per GB and this is on usage," Ambani noted.

Highlighting financial performance, Ambani pointed out that the company's revenue expanded from Rs 1,09,000 crore to over Rs 1,46,000 crore over the last three years, registering a compound annual growth rate of 15.8 per cent. Earnings before interest, taxes, depreciation, and amortisation reached over Rs 76,000 crore, with margins touching 53.3 per cent in the first quarter of the financial year.

"The basis of our EBITDA and our EBITDA growth has been us powering 60% of India's digital traffic. Today, Jio carries over 60% of India's data traffic," Ambani stated, adding that 30 per cent of revenue converts directly into free cash flow.

Detailing future avenues, Ambani identified four growth pillars: mobility, home broadband, enterprise services, and the international monetisation of its proprietary technology stack. In the mobility segment, the company targets 340 million potential users, comprising 100 million first-time mobile users and 240 million subscribers migrating from legacy 2G networks.

On home broadband, the company aims to scale its coverage from 30 million to 100 million households. To bypass right-of-way hurdles associated with physical fibre, the company developed an in-house wireless broadband solution operating on unlicensed bands, which accounts for 40 per cent of its new additions.

Ambani also underscored plans to take Jio's internally developed intellectual property abroad, backed by 7,220 patents filed by its engineering team.

"What we think is the end-to-end technology stack that we've created, deployed, and operate gives us the ability to partner with telecom partners across the world and really do this in a CAPEX-light manner," Ambani said. 

Jio Platforms Limited, a subsidiary of Reliance Industries Limited (RIL), has fixed the price band for its initial public offering (IPO) at Rs 1,065 to Rs 1,119 per equity share. The IPO will open for subscription on October 21 and close on October 23. 

The company plans to issue up to 27 crore fresh equity shares of face value Rs 10 each. The bidding for anchor investors, typically large institutional investors who invest ahead of a public offering, will take place on October 19.

According to the exchange filing, the company has also reserved shares worth up to Rs 2,500 crore for eligible Reliance Industries shareholders and up to Rs 500 crore for eligible employees, providing separate reservation categories for both groups.

Eligible employees bidding under the employee reservation portion will receive a discount of Rs 54 per equity share. The minimum bid lot has been fixed at 12 equity shares, with bids to be placed in multiples of 12 shares thereafter. (ANI)