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As Mukesh Ambani took the stage at Reliance’s annual shareholder meeting, its telecom rivals would’ve looked on nervously.

At 11:10 am, Ambani started his speech.

At 1.17 am, he announced that Jio’s 4G network covers 18,000 cities and 200,000 villages.

At 11.30 am, he announced free voice calls for all Jio customers.

At 11:33, he announced data charges at Rs. 50/gb. (lowest in the world)

BOOOM!!!

By 11:40 am, Airtel and Idea lost Rs. 13,800 crore of their market values.



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