Mumbai, July 21: The most anticipated JioPhone was launched on Friday at the Reliance Industries Ltd’s (RIL) 40th annual general meeting (AGM) in Mumbai for an effective price of Rs 0. During the annual meeting, various disruptive offers were also unveiled. RIL Chairman Mukesh Ambani on Friday termed that the JioPhone is “effectively free” 4G-enabled feature phone handset and said that Jio will soon cover 99% of India’s population with 4G displacing 2G as biggest coverage. The organisation has announced that customers would be required to pay a refundable security deposit of Rs 1,500 for three years, ‘for security reasons’.

Following is the FULL TEXT of Mukesh Ambani’s speech at the RIL AGM:

During his address at the AGM, Mukesh Ambani said Jio consumers use 125 crore GB of data every month, 165cr hours of video every month, making it the largest mobile video network. He further added saying that in 40 years, the market capitalization of RIL has multiplied by an astounding 50,000 times.