Jio Platforms eyes 6G software upgrade, targets 100 million broadband households

Jio Platforms plans to introduce nextgeneration 6G connectivity through a software upgrade rather than a fresh physical infrastructure buildout Managing Director Akash Ambani said on Thursday outlining the companyrsquos technological roadmap at its IPO press conferenceAmbani said Jiorsquos existing network infrastructure and proprietary core technology stack were being developed to support future technological transitions news agency ANI reportedldquoJiorsquos 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 buildoutrdquo Ambani saidHe attributed the companyrsquos readiness for future upgrades to its extensive network footprint which includes more than 360000 towers across India and over one million route kilometres of fibre Ambani also said Jio had the largest spectrum bank in the industryJio network carries over 60 per cent of Indias data trafficJio which marked its 10th anniversary on September 6 has a subscriber base of 53 crore users according to AmbaniThe companyrsquos network carries more than 60 per cent of Indiarsquos digital data traffic while customers consume an average of 437 GB of data per monthAmbani said Jio customers experience average download speeds of nearly 200 Mbps which he described as twice the speed offered by competing operatorsldquoToday across 53 crore Indians we give an average download speed of almost 200 Mbps Thatrsquos 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 49 per GB and this is on usagerdquo he saidJio targets growth through mobility broadband and enterprise servicesAmbani outlined four key growth areas for Jio Platforms mobile services home broadband enterprise services and the international monetisation of its proprietary technology stackIn the mobility segment the company sees a potential market of 340 million users comprising 100 million firsttime mobile users and 240 million subscribers expected to migrate from legacy 2G networksJio also plans to expand its home broadband reach from 30 million to 100 million households Ambani said the company had developed an inhouse wireless broadband solution using unlicensed spectrum to address rightofway challenges associated with laying physical fibreThe wireless broadband offering accounts for 40 per cent of Jiorsquos new additions he saidThe company is also looking to take its internally developed technology to international markets Ambani said Jiorsquos engineering team had filed 7220 patents supporting its plans to partner with telecom operators overseasldquoWhat we think is the endtoend technology stack that weve created deployed and operate gives us the ability to partner with telecom partners across the world and really do this in a CAPEXlight mannerrdquo Ambani saidJio Platforms reports 158 per cent revenue growthAmbani said Jio Platformsrsquo revenue increased from Rs 109000 crore to more than Rs 146000 crore over the past three years representing a compound annual growth rate of 158 per centThe companyrsquos earnings before interest taxes depreciation and amortisation EBITDA exceeded Rs 76000 crore while its EBITDA margin reached 533 per cent in the first quarter of the financial yearldquoThe basis of our EBITDA and our EBITDA growth has been us powering 60 per cent of Indiarsquos digital traffic Today Jio carries over 60 of Indiarsquos data trafficrdquo Ambani saidHe added that 30 per cent of revenue converted directly into free cash flowJio Platforms IPO Price band dates and shareholder reservationJio Platforms Ltd a subsidiary of Reliance Industries Ltd RIL has set a price band of Rs 1065 to Rs 1119 per equity share for its initial public offering IPO The issue will open for subscription on October 21 and close on October 23The company plans to issue up to 27 crore fresh equity shares with a face value of Rs 10 each Bidding by anchor investors is scheduled for October 19According to the exchange filing Jio Platforms has reserved shares worth up to Rs 2500 crore for eligible Reliance Industries shareholders and up to Rs 500 crore for eligible employeesEmployees bidding under the reserved category will receive a discount of Rs 54 per equity share The minimum bid lot is 12 equity shares with subsequent bids to be placed in multiples of 12 sharesWith ANI inputs