1:1 Bonus Share: After Airtel, This Telecom Giant to Bring Elon Musk’s SpaceX Starlink High-Speed Internet to Its Customers
After Airtel, Jio Platforms Limited (JPL) announced an agreement with SpaceX to offer Starlink’s broadband internet services to its customers in India.
After Airtel, Jio Platforms Limited (JPL) announced an agreement with SpaceX to offer Starlink’s broadband internet services to its customers in India. This agreement, which is subject to SpaceX receiving its authorizations to sell Starlink in India, enables Jio and SpaceX to explore how Starlink can extend Jio’s offerings and how Jio can complement SpaceX’s direct offerings to consumers and businesses. Jio will make Starlink solutions available through its retail outlets as well as through its online storefronts.
Through this agreement, the parties will leverage Jio’s position as the world's largest mobile operator in terms of data traffic and Starlink’s position as the world’s leading low-Earth-orbit satellite constellation operator to deliver reliable broadband services across the country, including the most rural and remote regions of India. Jio will not only offer Starlink equipment in its retail outlets but will also establish a mechanism to support customer service installation and activation.
The agreement with SpaceX is part of Jio’s commitment to ensuring that reliable internet is fully accessible to all enterprises, small and medium businesses, and communities across India. Starlink complements JioAirFiber and JioFiber by extending high-speed internet to the most challenging of locations in a quick and affordable manner. Jio and SpaceX are also evaluating other complementary areas of cooperation to leverage their respective infrastructure to further enhance India’s digital ecosystem.
About Jio Platforms Limited: Jio Platforms Limited, through Reliance Jio Infocomm Limited, has established a cutting-edge, all-IP data network featuring advanced 5G and 4G LTE technology, uniquely designed from its inception as a Mobile Video Network with Voice over LTE capabilities, ensuring future-proof scalability for upgrades to 6G and beyond, thereby revolutionizing India's digital landscape and fostering the Digital India vision.
About Starlink by SpaceX: Starlink delivers high-speed, low-latency internet to users all over the world. As the world's first and largest satellite constellation using a low Earth orbit, Starlink delivers broadband internet capable of supporting streaming, online gaming, video calls and more. Starlink is engineered and operated by SpaceX. As the world’s leading provider of launch services, SpaceX is leveraging its deep experience with both spacecraft and on-orbit operations to deploy the world’s most advanced broadband internet system.
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About Reliance Industries Ltd
Reliance was founded by Dhirubhai Ambani and is now promoted and managed by his elder son, Mukesh Dhirubhai Ambani. Ambani's family has about 50 per cent shareholding in the conglomerate. The company is a constituent of the BSE Sensex Index, which is a stock market index that tracks the performance of 30 of the largest and most liquid stocks listed on BSE with a market capitalization of over Rs 20 lakh crore. The stock’s 52-week high is Rs 1,608.95 and its 52-week low is Rs 1,156 per share.
The Board of Directors issued 1:1, i.e. every shareholder holding 1 (one) fully paid-up equity share of Rs 10 each on the record date will receive 1 (one) fully paid-up equity share of Rs 10 each. The record date also known as the record date was Monday, October 28, 2024. This is the sixth bonus issue from RIL since its IPO and the second in this Golden Decade. The bonus issue is a testimony to Reliance’s continued commitment towards rewarding shareholders during the Golden Decade from 2017 to 2027. In 2017, Reliance issued bonus shares in the ratio of 1:1. In July 2023.
The company reported positive numbers in its Quarterly Results (Q3FY25) and nine-month results (9MFY25) and has consistently shown impressive figures, demonstrating its profitable performance for over a decade. The stock gave multibagger returns of 160 per cent in 5 years and over 540 per cent in 1 decade. Investors should keep an eye on this Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.