US startup to offer free data in India, page-8

Competition is everywhere and as we pay more attention to tech stocks it was reported in the WA newspaper on last Tuesday Gold Coast based Guvera which is in the music streaming competition aims to raise 100million. The article states half of its 14million customers are in India and its initial public offering values the company as much as $1.3 billion. (That's 1.3 billion for a company showing losses )
Guvera which launched in 2008 is free and instead of offering a pay-for option like Apple and Spotify the company relies on brands advertising on its platform. The article also suggests that if the company is unable to raise sufficient capital under the prospectus there would be "significant uncertainty" whether it could continue as a going concern. This based on 1.2m in revenue for the 2015 financial year and booked a net loss $81.1 m - up from $29m loss the year before.
Guvera also claims the Indian market is primed for this model. They even use retired Cricket Star Brett Lee in an advertisement.
If Guvera actually succeeds with the prospectus were would that place Syntonic/PSF which has a much superior and broader offer.