Reliance Targets 500 Mn Jio Users Under Five-Year Plan For IPO

13 August, 2019, 21:44 | Author: Regina Silva
  • Jio GigaFiber service to launch on 5 Sept 2019

100 MBPS plan will cost ₹700 per month while the 1000 MBPS plan will cost ₹10,000 per month. "The potential for growth is vast, and 500 Mn mark is soon to be achieved", he added.

Reliance's big push into cloud services also comes as India, one of the world's fastest growing web services markets, is framing a data privacy law, drafts of which have emphasized storage of key consumer data locally. Reliance Jio Directors Akash Ambani and Isha Ambani demonstrated major gaming capabilities of the Jio Set-Top Box during the AGM. Jio Fiber will commercially launch across India from September 5, 2019; three years after Jio's historic launch.

Aramco will acquire a 20% stake in the company's oil-to-chemicals business, including the 1.24 million-barrel-a-day Jamnagar refining complex on India's west coast, Reliance Chairman Mukesh Ambani said in Mumbai. Customers will also get a dedicated unlimited worldwide calling pack at Rs. 500 per month to make calls in the USA and Canada.

"We have received strong interest from strategic and financial investors in our consumer businesses, Jio and Reliance Retail", Ambani said in a statement for the company's annual general meeting on Monday. The Reliance CMD also confirmed that the company is testing the service with 5 lakh homes already - making it the largest beta testing program in the world for a home internet service. Which ones? Well, we don't know yet. Announcing the move, Mukesh Ambani said the "Jio First Day First Show" service wil be launched by the middle of the financial year 2020.Jio's Forever Plans, that promises subscribers an HD or 4K LED television for free, along with a 4K set-top box, was also announced. This service won't be available immediately but Ambani stated that it should be live by mid-2020.

A subscription to Jio Fiber is also going to come bundled with subscriptions to most of the leading premium OTT applications.

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That being said, Ambani also said the plans offered by Jio can also go up to ₹10,000 per month.

Not much information has been shared about plans and exact details about Postpaid Plus offers but Ambani did share some features will be made available to customers. Existing Jio GigaFiber and new Jio Fiber customers would be able to get voice calling support through the new service. It also claimed that the graphic performance of the set-top-box is "at par with the best in the world" and delivers "zero latency".

Reliance Jio also announced free cloud and connectivity solutions for "budding startups" in India. Jio said it will offer these tools starting at INR 1,500 per month to these enterprises.

Reliance's foray into the cloud services market - essentially selling computer services such as website hosting and data storage - could intensify competition in an Indian market dominated by Amazon Web Services (AWS), say analysts. Last year, speaking at the company's 41st AGM, Ambani had said the Jio Giga Fiber Service will provide ultra-high definition entertainment on TV, voice activated assistance, virtual reality gaming and digital shopping as well as smart home solutions.

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