Mukesh Ambani gets teary-eyed as Isha and Anant praise him at Jio's blockbuster IPO

Dubai: Reliance Industries Chairman Mukesh Ambani was visibly emotional as his children, Isha Ambani and Anant Ambani, delivered heartfelt speeches at the Jio Platforms listing ceremony at the National Stock Exchange (NSE) on Wednesday.

The siblings addressed the gathering ahead of Jio Platforms’ stock market debut, reflecting on the company’s journey, their father’s vision and the role of millions of customers in its growth.

Isha Ambani recalls father’s vision

Isha Ambani, Executive Director of Reliance Retail Ventures, recalled a family dinner conversation in which her father spoke about Reliance’s first public offering in 1977, when he was 20.

She drew a parallel between that milestone and Jio’s listing, highlighting the family’s longstanding ambition to build businesses that reach ordinary Indians.

Isha said Jio generated around $15.5 billion in revenue and $8 billion in real earnings that year, adding that the company’s success reflected customer trust.

She then paid tribute to her father, saying he repeatedly envisioned possibilities others could not see and had the courage to pursue what many considered impossible.

As Isha praised his leadership and its impact on millions of Indians, Mukesh Ambani listened with a smile and tears in his eyes.

She also acknowledged her twin brother Akash Ambani, chairman of Reliance Jio, praising his dedication over the past 13 years and saying she could not be prouder to be his sister.

Anant Ambani speaks of gratitude

Anant Ambani, Executive Director of Reliance Industries, began his address by thanking the millions who supported Jio.

He described the stock exchange bell as resembling a temple bell, explaining that business was a form of worship for him and that its rewards should be shared.

“Today, Jio is shared with India,” he said.

Anant also spoke about the bond he shares with Isha and Akash, describing the three siblings as having one soul and a shared commitment to honour their family’s dreams.

Mukesh Ambani was again seen wiping away tears as his youngest son addressed the gathering, providing an emotional moment at a significant milestone for the Reliance group.

Blockbuster IPO

Jio Platforms Ltd.’s blockbuster stock market debut has propelled the digital company as well as its parent Reliance Industries Ltd. into rarefied air. It also helped Mukesh Ambani’s conglomerate topple Tata Group as India’s largest conglomerate by market value.

Jio’s shares gained almost 27 per cent on their first day of trading yesterday, giving the company a valuation of more than 13.05 trillion rupees ($137 billion).

That pushed Reliance Group’s combined market value past 30.5 trillion rupees and surpassed Tata Group at 25 trillion rupees, according to data compiled by Bloomberg News. Tata Group was at the top by market value for most part of the past decade, data shows.