Reliance Jio enrols 1.6 cr subscribers in first month

At the AGM of Reliance Industries Ltd, its chairman Mukesh Ambani had said that Jio has set a target of acquiring 10 crore subscribers “in the shortest possible time”.

By: ENS Economic Bureau | New Delhi | Published:October 10, 2016 3:10 am

Reliance Jio has enrolled 1.6 crore subscribers in the first 26 days of commercially launching its operations on September 5, the company said on Sunday.

At the AGM of Reliance Industries Ltd, its chairman Mukesh Ambani had said that Jio has set a target of acquiring 10 crore subscribers “in the shortest possible time” and an aim to cover 90 per cent of India’s population by March 2017, which experts believed would be tough for the company to achieve.

“The run-rate of SIM card sales since the launch of the welcome offer is 1 lakh per day. With the addition of more distribution channels (eg, mom-and-pop stores), our channel check indicates the run-rate to go up 3-4 times. Total current subscriber base is 5 million,” brokerage Motilal Oswal had said in a report. The report had said that considering three to four times growth in daily subscriber addition from the then level of 1 lakh, monthly addition worked out to 90 lakh, leading to about 3.6 crore subscribers by end of December.

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