business
India's biggest share sales tell the story of a country glued to its phones
Key takeaways
- India's largest stock exchange and its biggest telecoms operator will both go public by the end of this year in what experts say could be landmark listings for the country's capital markets.
- Jio is expected to mop up around $4bn (£3.02bn) from the market at an estimated valuation of $120-160bn, while NSE's issue will reportedly offer 6% equity for $3.3bn, valuing the bourse at $57bn.
- "These are unique businesses which don't get built often.
Nur Photo via Getty Images Image caption, Jio is expected to raise around $4bn (£3.02bn) with an estimated valuation of $120-160bn
India's largest stock exchange and its biggest telecoms operator will both go public by the end of this year in what experts say could be landmark listings for the country's capital markets.
Jio Platforms, the digital arm of billionaire Mukesh Ambani's Reliance Industries, and the National Stock Exchange (NSE) - the world's largest derivatives exchange and among the top three equity exchanges by trading volume - filed draft papers for their initial public offerings just days apart last month.
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