00:0050 years after Dhirubhai Ambani took Reliance to the public,
00:05the Ambani empire is now preparing for another landmark moment.
00:10Jio Platforms is gearing up for what could become India's biggest ever IPO.
00:16And according to Bloomberg, Reliance is actually reaching out
00:20to its nearly 4.2 lakh strong workforce to build investor participation.
00:27So with a 30,000 crore rupee plus offering on the horizon,
00:32the spotlight very clearly now is on Mukesh Ambani's next generation
00:37and whether Jio's market debut can reshape India's corporate pecking order.
00:5150 years after Dhirubhai Ambani began transforming ordinary Indians
00:56into shareholders, the Reliance empire is preparing for another landmark moment.
01:02And this time Mukesh Ambani is reportedly mobilising the group's vast workforce
01:08to help build momentum for India's biggest ever IPO.
01:15According to Bloomberg, Reliance has reached out to employees
01:19across its nearly 4.2 lakh strong workforce,
01:22encouraging them to consider investing in Jio Platforms,
01:27while October salaries have reportedly been released around 15 days early,
01:32although employees were not given a reason for the early payment.
01:37The outreach, according to the report,
01:39has even extended to checking whether employees and their families
01:42have DMAT and trading accounts
01:44in what appears to be an unusually wide effort
01:48to build investor participation
01:50ahead of the 30,200 crore rupee offering.
01:56Jio's own eligible employees have a reserved quota
01:59and a 5% discount,
02:01while eligible Reliance Industries shareholders
02:03have a separate reservation,
02:06giving the group's existing investor base
02:08a direct stake in this new chapter.
02:12The numbers are as ambitious as the strategy,
02:15with Jio seeking to raise as much as 30,213 crore rupees
02:20at a price band of 1,065 to 1,119 per share,
02:26potentially valuing the business at more than 10 lakh crore.
02:30With anchor investors getting their first opportunity
02:33on October 19th and public subscriptions
02:35opening on October 21st,
02:37the countdown has begun.
02:41But this is more than a fundraising exercise,
02:43because Jio's stock market debut is also emerging
02:46as a defining moment
02:48for the third generation of the Ambani family,
02:51with Akash and Isha Ambani stepping forward
02:54to explain how Reliance's digital business intends to grow.
03:00We built a technology platform for India, from India,
03:06but leads global standards in just the last 10 years.
03:10Our father.
03:11And while Akash is selling the scale and future
03:14of India's digital connectivity,
03:16his twin, Isha, is emphasising the financial discipline
03:19that must support that ambition.
03:22You bring out the best in others and hopefully the best in the world.
03:25Financial prudence is embedded in our DNA.
03:27In 2019, my father made a commitment
03:30to all Reliance shareholders.
03:32He said that in 2021,
03:34Reliance Industries would be net debt free.
03:372020 came, COVID came along with it,
03:40and along with that came a global slowdown.
03:43And yet, nine months ahead of schedule,
03:46that promise was delivered on.
03:49And the implications could go well beyond Jio itself.
03:53With the listing of the company likely to make the Reliance Group
03:56India's largest business conglomerate,
03:59potentially overtaking the Tata Group.
04:04The RIL Group,
04:08after Jio's listing,
04:11will be India's largest conglomerate,
04:15basis-listed market cap.
04:18There is a powerful historical parallel here.
04:21Because in 1977,
04:24Dhirubai Ambani took Reliance Textile Industries to the public,
04:28attracting tens of thousands of shareholders
04:31and helping bring equity,
04:33investing out of the exclusive clubs of Dalal Street,
04:36and into ordinary Indian households.
04:39That issue was oversubscribed more than seven times.
04:43And nearly five decades later,
04:45the family is once again looking to India's investing public
04:48to help write its next growth story.
04:52Bureau Report, Business Today Television.
