Jio’s next decade starts with an IPO

Ten years after entering the telecom market with free calls and ultra-cheap data, Reliance Jio is preparing to take the scale it built through that disruption to public markets. The company’s proposed initial public offering, estimated to be around Rs 37,700-crore, cleared by Sebi last week, could become the largest IPO and mark a turning point for a business that has spent its first decade chasing subscribers and building infrastructure.

The question for Jio is no longer whether it can disrupt telecom. It has already done that. The bigger test now is whether it can monetise the network,