0:00 Lot one this morning: Jio Platforms.0:02 The anchor book is closed, and the bids are in.0:05 A cool ₹8,110 crore from the likes of BlackRock, Fidelity, and Capital Group.0:10 All this before the public even gets a look.0:13 We talked about big moves last time, but this auction is set to break the record for the entire country.0:20 Now for the rest of the room.0:22 A few other lots on the block today that you need to see.0:25 First, the India-New Zealand Free Trade Agreement just went live.0:30 That means New Zealand is committing to facilitate $20 billion of investment into India, with startups named as a key sector.0:38 It also opens the door for Indian services companies—including IT—across about 118 sectors.0:44 That’s not just a trade deal; that’s new fuel for the engine.0:48 Next up, a piece of hardware.0:50 Even Realities just put its G2 smart glasses on the block.0:53 The twist?0:54 No camera.0:55 It uses the lens itself as a display for translations, AI prompts, or even a teleprompter.1:01 A very different bet on what augmented reality should be for.1:05 And finally, a warning shot from inside one of the biggest houses.1:09 Microsoft’s CEO Satya Nadella just said that powerful AI models cannot be trusted and should be treated as an INSIDER risk.1:17 That’s right.1:18 Not an outside threat, but a risk you willingly bring inside your own walls.1:23 Now, let's go back to that first lot.1:25 The big one.1:26 Jio Platforms.1:27 The anchor round was just the warm-up.1:29 The public offering opens tomorrow, and they are looking for a valuation of up to ₹10.3 lakh crore.1:36 Let me run that for you.1:38 I’m bid 10 lakh crore, do I hear 10.1, 10.2, 10.3 on the book, yep, 10.3 lakh crore, looking for more...1:44 Hammer's down.1:45 Now let me tell you what that actually was.1:48 This isn’t just an IPO.1:50 This is the culmination of a decade-long plan.1:53 Remember back in 2020, during the pandemic?1:55 Jio raised over one and a half lakh crore from thirteen global investors.2:00 Facebook took a piece.2:02 Google took a piece.2:03 KKR, Silver Lake, the Saudi Public Investment Fund… they all bought in.2:08 They saw what was coming.2:09 This isn't a startup.2:11 This is a platform with 524.4 million customers as of March.2:15 They’re not just selling phone plans; they’re building the digital infrastructure a huge part of the country runs on.2:22 It’s exactly what Anand Mahindra was talking about when he said the Indian ecosystem is "on steroids" with "hardcore hardware." This is what it looks like at scale.2:33 A price is just the last person who wanted it more.2:36 And for years, the biggest names in global finance have wanted a paddle in this auction.2:42 Now, the public gets its turn.2:44 And remember, I call the numbers in the ring, but this is general information, not financial advice.2:51 The paddle's in your hand now.
