Edit India's biggest ever share offer
6/19/20269 min
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First 90 secondsBisi Adebayo· Host0:00
[intro music] Could India's biggest ever IPO become a test of global investor confidence? It's World Business Express from the BBC World Service. I am Bisi Adebayo. [intro music] A new report suggests Brexit has left the UK economy smaller than it otherwise would have been, and why haggis is getting a surprise welcome in America during the World Cup. [intro music] So what could become India's biggest ever stock market listing is moving a step closer. Reliance Jio, the telecoms and digital services giant controlled by billionaire Mukesh Ambani, is preparing for an initial public offering that could raise as much as four billion dollars, while the company is also ramping up its artificial intelligence ambitions, announcing plans to deploy NVIDIA's latest AI chips. I've been speaking to our India correspondent, Arunima Mukherjee.
Arunoday Mukherjee0:55
Well, this is big, just the sh-sure scale of the intended IPO and just because of the company that we're talking about. So this could be India's biggest stock offering, coming from one of Asia's richest men, Mukesh Ambani. He owns Reliance Industries, and this is the company's telecom arm, Jio platforms. It could fetch as much as four billion dollars, according to some estimates, so it is being seen as one of its biggest offerings in the country. This is a company that stormed India's telecom market in the year twenty sixteen, offering users the cheapest mobile data network in the world.