iWorld
Jio Platforms taps Morgan Stanley, Goldman for mega IPO push
MUMBAI: Jio Platforms Ltd. has picked Morgan Stanley and Goldman Sachs to steer its long-awaited public listing, setting the stage for one of India’s biggest IPOs and a valuation estimated between $133 billion and $182 billion. The digital arm of Reliance Industries Ltd. is expected to file draft papers once India’s finance ministry clears a SEBI proposal allowing a 2.5 per cent public float for large IPOs, according to media reports.
The offering is likely to comprise an even split between fresh shares and stock sold by existing private equity investors, including KKR & Co, Silver Lake and Vista Partners. Strategic shareholders such as Google LLC and Meta Platforms Inc. are expected to retain their stakes of 7.75 per cent and 9.99 per cent, respectively. Reliance chairman Mukesh Ambani first announced plans for the listing at the group’s annual meeting in September 2025.
Banker talks began in October for a potential first-half 2026 listing, with early proposals pegging Jio Platforms’ valuation as high as $170 billion: above Bharti Airtel Ltd.’s market capitalisation. Analysts estimate that a 2.5 per cent stake sale at around $180 billion could raise $4.5 billion, comfortably eclipsing Hyundai Motor India Ltd.’s $3.3 billion IPO in 2024.
MUMBAI: If cricket were a binge-worthy series, this one just dropped its most explosive pilot yet. The opening weekend of the 2026 edition of the Indian Premier League has come out swinging, smashing records across both television and digital platforms and reaffirming the tournament’s unmatched pull in India’s sporting and media landscape.
Backed by two high-octane matches featuring 200-plus run chases, the tournament delivered a combined reach of over 515 million viewers across linear TV and digital platforms via JioStar’s broadcast ecosystem, including Star Sports and JioHotstar. More tellingly, engagement surged alongside reach, with total watch-time hitting 32.6 billion minutes, a sharp 26 per cent jump over the opening weekend of the previous season.
The numbers reveal a deeper shift in how India watches cricket. Connected TV (CTV) consumption rose by 30 per cent, while peak concurrency on digital platforms jumped 61 per cent, signalling a growing appetite for shared, big-screen streaming experiences. On traditional television, the momentum held strong, with TV ratings (TVR) climbing 24 per cent compared to earlier seasons’ opening matches.
A key driver of this spike has been the evolution of the viewing experience itself. This season introduced differentiated feeds, most notably a Hindi CTV broadcast featuring cricketing voices such as Ravichandran Ashwin, Suresh Raina, Harbhajan Singh, Virender Sehwag and Irfan Pathan. Blending expert analysis with a watch-along format, the feed has added a conversational, almost second-screen feel without requiring viewers to leave their screens.
According to JioStar CEO for Sports Ishan Chatterjee, at the opening weekend underscores not just scale but also the depth of engagement that live cricket continues to command. He noted that the combination of large-screen viewing and digital interactivity is creating a more immersive and personalised experience, while also delivering tangible outcomes for brand partners.
From the league’s perspective, the early numbers point to a tournament that continues to reinvent itself. Arun Singh Dhumal, Chairman of the IPL, said the strong start reflects how high-quality cricket paired with enhanced viewing formats is resonating with audiences nationwide, while Board of Control for Cricket in India secretary Devajit Saikia highlighted the “quality of engagement” as a key takeaway, not just the scale.
Commercially too, the opening weekend signals robust advertiser confidence. The broadcast is led by co-presenting sponsors including Google (Search AI Mode), Campa Energy, and Havells & Lloyd, alongside co-powered partners such as Birla Opus, Hero Motocorp and Amazon. A long tail of associate sponsors from OpenAI and Asian Paints to Flipkart and Amul further reflects the league’s unmatched ability to aggregate advertiser interest at scale.
Taken together, the opening weekend numbers are less a spike and more a statement. With 515 million viewers, 32.6 billion minutes of watch-time, and double-digit growth across formats, IPL 2026 has not just started strong, it has set the tone for a season that looks poised to push the boundaries of both sport and spectacle.
