The company plans to double its SMBs in the coming quarters, and has raised its SMb SMS service’s share price from Rs.15 to Rs.20, its second-largest offer in over three years.
The move, announced on Tuesday, comes in the backdrop of strong growth in India’s Internet and mobile data users and as the country’s government prepares to launch an ambitious broadband rollout later this month.
“The announcement of this initiative is aimed at making the SMBs more competitive, while ensuring their success and growth,” an email sent by the company said.
“Our SMBs will be the next wave in the next decade, which is a major shift from the previous phase, which was focused on consolidation and expansion of SMBs,” it added.
It said the SMB offering is the most sought after by Indian consumers.
The average revenue per user for Indian SMBs has risen from Rs 4,000 crore in 2014 to Rs 9,000 billion in 2021, it said.
According to the company, it has raised a total of Rs 12,000 crores from the IPO.