00:00Reliance Industries, the flagship company of billionaire Mukesh Shambani, has submitted draft papers for a share sale in Jio platforms.
00:08The offering could become the largest IPO in India's history, setting the stage for a test of investor appetite for
00:15the country's most closely watched listing.
00:18Jio is no ordinary business.
00:20The digital crown jewel of Mukesh Shambani Semper, it operates India's largest wireless network, serving nearly 525 million subscribers.
00:30The listing would also mark the first major Reliance unit to go public in almost two decades.
00:36If successful, it could surpass Hyundai Motor India's $3.3 billion IPO in 2024 and inject fresh momentum into market
00:45where fundraising has slowed after two record years.
00:49Jio's rise has already reshaped India.
00:53In 2016, it stormed the telecom market with free calls and ultra-cheap data, triggering a brutal price war that
01:00forced rivals to merge, exit or collapse.
01:03Today, India is left with just three private sector wireless players.
01:07Global investors have already placed their bets, Meta, Alphabet, KKR, General Atlantic, A, DIA and TPGR among Jio's shareholders after
01:17a massive fundraising round in 2020.
01:19For Ambani, it is more than a listing.
01:22It is the next act in India's digital revolution, offering everything from internet connectivity to entertainment through a single platform.
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