‘An ordinary Indian could dream big’: Mukesh Ambani in tears as Anant recalls Dhirubhai

Reliance Industries Chairman Mukesh Ambani was seen wiping away tears as his son Anant Ambani recalled the journey of his grandfather, Dhirubhai Ambani, at Jio Platforms’ listing ceremony on Wednesday. The emotional moment came as the Reliance group’s telecommunications and digital services business began trading on the stock market, marking a new chapter in the family’s business legacy.

Speaking at the National Stock Exchange (NSE) in Mumbai, Anant linked Dhirubhai’s humble beginnings to Mukesh Ambani’s industrial ambitions and Jio’s mission to connect India digitally.

“He showed us that even an ordinary Indian could dare to dream an extraordinary dream,” Anant said, recalling his grandfather’s journey.

Jio Platforms shares listed at Rs 1,358 apiece, a premium of Rs 239, or 21.36 per cent, over the IPO price of Rs 1,119. With a reported market capitalisation of around Rs 12.6 lakh crore, the company became India’s second most valuable listed company after Reliance Industries.

The listing ceremony brought together three generations of the Ambani family’s ambitions, with Anant, Isha and Akash Ambani thanking investors, employees and customers while setting out their vision for Jio’s next phase of growth.

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From Dhirubhai’s humble beginnings to Jio’s digital ambitions

Anant began his speech by thanking the millions of people who had supported Jio and made the listing possible.

He described the ringing of the stock exchange bell as a moment of personal significance, comparing it to a temple bell.

“For me, business is Puja. And every Puja ends with Prasad,” he said. “Today, Jio is shared with India.”

He then recalled Dhirubhai Ambani’s early life in Chorwad, Gujarat, and his work at a petrol pump in Aden, now part of Yemen.

Anant said his grandfather began without money or influential connections but demonstrated that an ordinary Indian could aspire to achieve extraordinary things.

The speech then turned to Mukesh Ambani’s vision for the country. Anant recalled how his father wanted India to avoid falling behind other countries and pointed to the development of Reliance’s refining complex in Jamnagar, Gujarat, as an example of the scale of Indian industrial ambition.

“He showed us that when India builds, the world watches,” Anant said.

He presented Jio as the next stage in that journey, describing the ambition to put internet access in every hand and connect every village to the wider world.

Anant credited his sister, Isha Ambani, with planting the seed of the idea and his brother, Akash Ambani, with taking it forward.

He also thanked Prime Minister Narendra Modi for the vision of Digital India, saying it had given Jio its purpose.

How Jio became part of everyday Indian life

Anant explained the significance of Jio’s name through familiar expressions of affection and blessings used by Indians in everyday life.

He recalled mothers telling their children to live long, grandmothers offering blessings and friends using the word casually.

“Jio, perhaps the first name in the world that is itself a blessing,” he said.

To illustrate the company’s impact, Anant described how students continued their education online when schools closed, how mothers stayed connected with children living away from home and how people accessed religious services remotely.

He also spoke about a girl from a small town reaching a large audience through her mobile phone, a soldier reassuring his mother and daughter through a video call, and a doctor in Mumbai helping treat a critically ill patient in Pali, Rajasthan.

“Jio is not visible. But it beats in every digital dream of India,” Anant said.

He thanked the company’s more than 530 million subscribers, describing them as members of the Jio family.

“Jio aapne banaya. Aapke sapne poore karna, yahi hamara sapna hai,” he said, meaning that Jio was built by its customers and fulfilling their dreams was the company’s own ambition.

Anant also acknowledged the field teams, tower technicians, engineers, service staff, retail teams and partners who helped build and operate the network.

He said the listing milestone belonged to these employees and their families.

Isha Ambani invokes Dhirubhai’s philosophy of growth

Isha Ambani, executive director at Reliance Retail, described the listing as the beginning of a new commitment rather than the end of a journey.

“Today isn’t a finish line. It’s a promise,” she said.

Isha invoked Dhirubhai Ambani’s belief that people from humble backgrounds deserved a share in India’s economic growth, not merely the role of spectators but that of owners.

She recalled that nearly five decades after Dhirubhai had asked ordinary families to trust Reliance with their savings and ambitions, investors were once again placing their faith in the group.

“Almost 50 years later, that trust has come full circle,” she said.

Isha also credited Mukesh Ambani with repeatedly anticipating changes in different industries and having the courage to build what others considered impossible.

She said Jio had generated around $15.5 billion in revenue and about $8 billion in earnings during the year, according to figures she cited at the ceremony. She attributed the company’s business philosophy to the principle of creating real value for customers.

Behind the financial figures, she said, were customers who had welcomed Jio into their homes, shops, classrooms and daily lives.

Akash Ambani sets out Jio’s next growth phase

Akash Ambani, chairman of Reliance Jio Infocomm, used the listing ceremony to outline the company’s ambitions beyond mobile data.

He said Jio had spent its first decade expanding affordable internet access and now wanted to make emerging technologies more widely accessible.

“In our first 10 years, we democratised data, bringing hundreds of millions into the digital world,” Akash said. “In our next step, we want to democratise every technology that can transform lives: AI, cloud, connected devices, connectivity even from space, and digital services not yet imagined.”

He said the company wanted to integrate connectivity, computing and intelligence into a digital society where Indians could participate and prosper.

Akash also said Jio aimed to become one of the world’s leading technology companies, arguing that India was emerging as a creator of technology rather than merely a market for it.

“What Jio engineers have built is proudly made in India and made for India,” he said.

Jio’s market debut marks a new chapter

Jio Platforms’ listing adds a major digital business to India’s public markets and gives investors a direct route to participate in Reliance’s telecommunications and digital services operations.

The debut also comes as the company looks to expand beyond connectivity into areas such as artificial intelligence, cloud computing and connected devices.

The market response was strong on the first day, with shares opening more than 21 per cent above the IPO price. However, sustaining investor interest will depend on the company’s ability to translate its subscriber base and technology investments into continued earnings growth.

(Disclosure: Firstpost is a part of the Network18 Group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)