Mukesh Ambani led Reliance Jio Infocomm Ltd created a new company called Jio Platforms Ltd in Dec 2019 which houses the Telecom Business along with the App ecosystem (Jio Cinemas, Jio TV, Jio Sawaan, etc) This was created to raise global funds with businesses that can command high premium like that of FAANG (Facebook, Amazon, Netflix and Google) companies in the global market. FAANG global tailwind, the very best global partners and a prized opportunity.
On the Ground, it is a flip-flop a complete U-turn over the past four years. At one stage, prior to Jio’s mobile telephony launch, investors were discounting invested capital by 30–50%, effectively valuing Jio at a negative equity value. The market is now extrapolating that Reliance can endlessly create value by doing more of the same and is incrementally ignoring