A record-breaking(破纪录的) initial public offering is heading for the stock market. Retail investors are expected to pile in(蜂拥而入). The company’s prospects depend upon a single influential businessman, trusted by his devotees(虔诚的追随者) to come good, but reviled by his detractors.
一场破纪录的首次公开募股即将登陆股市。散户投资者预计将蜂拥而入。公司的前景取决于一位有影响力的商人，他被崇拜者信任能成功，但被批评者唾弃。
This is not America and SpaceX(① 背景资料：SpaceX由埃隆·马斯克...) but India and Jio, a company that brought hundreds of millions of Indians online and may soon list. It is a thrilling story of the new Indian economy, featuring a tech entrepreneur hoping to get rich and ordinary Indians using the stock market to get a stake in(股份；利益) his success. Yet beside all the reasons to celebrate sits one big reason to worry: India’s corporate governance is dismal.
这不是美国和SpaceX，而是印度和Jio，一家将数亿印度人接入互联网的公司，可能很快上市。这是一个激动人心的印度新经济故事，一位科技企业家希望致富，普通印度人则通过股市参与他的成功。然而，在所有的庆祝理由之外，有一个巨大的担忧：印度的公司治理糟糕透顶。
Problems dog(困扰，纠缠) India’s family-run conglomerates. As we report, the Tata Group, long the gold standard(黄金标准；最高标准) of corporate probity, has been consumed by a boardroom drama. The regulator may force it to list, too. Gautam Adani, perhaps India’s best-connected infrastructure mogul, has spent years battling allegations that have cast a pall over(使…蒙上阴影) his business success. Reliance, the parent company of Jio and much else, has an issue with succession. The three children of its boss, Mukesh Ambani, are on the board and in prominent operating roles. Yet the empire still seems to depend on Mr Ambani.
问题困扰着印度的家族企业集团。正如我们报道的，长期以来作为企业诚信金标准的塔塔集团，正陷入一场董事会闹剧。监管机构可能也强制其上市。高塔姆·阿达尼，也许是印度人脉最广的基础设施巨头，多年来一直在与指控作斗争，这些指控给他的商业成功蒙上阴影。Jio及其众多业务的母公司信实集团面临继承问题。其老板穆克什·安巴尼的三个子女都在董事会并担任重要运营职务。然而，这个帝国似乎仍然依赖安巴尼先生。
