Mumbai, October 28, 2026 (Yes Punjab News)
Jio Platforms Ltd shares traded nearly flat on Wednesday after making a strong stock market debut, listing at ₹1,358 apiece on the NSE and BSE, a premium of 21.36 per cent over the initial public offering (IPO) price of ₹1,119.
The digital and telecom subsidiary of Reliance Industries had raised ₹30,213 crore through its IPO, which was described as India’s largest public issue. Following the listing, the company’s market capitalisation crossed ₹12.5 lakh crore, placing it among the country’s largest listed companies.
Investor demand for the offering was strong, with the IPO subscribed 22.19 times overall. Qualified institutional buyers led the response, subscribing to 70.55 times their allotted portion.
Market attention is now turning to Jio Platforms’ ability to sustain revenue growth, improve profitability and execute its expansion plans while maintaining healthy cash flows.
Brokerage firms Nomura, Motilal Oswal Financial Services and Elara Securities have initiated coverage on the shares with ‘Buy’ ratings.
Nomura said Jio had evolved from a market disruptor into an industry leader, accounting for 42 per cent of India’s wireless subscribers, 60 per cent of data traffic and 43 per cent of home broadband. It expects the listing to strengthen Jio’s influence over industry tariffs and projects a 13.5 per cent compound annual growth rate in earnings before interest, taxes, depreciation and amortisation (EBITDA) between FY26 and FY29.
Nomura set a target price of ₹1,340, while Motilal Oswal assigned a target of ₹1,350.
Motilal Oswal expects rising profitability and capital expenditure remaining within a limited range to generate cumulative free cash flow of ₹1.46 lakh crore over FY26–FY29, potentially enabling Jio Platforms to achieve a net cash position by FY29.
The brokerage also sees scope for the company to trade at a premium to Bharti Airtel’s India business, citing market leadership, influence over tariffs and a free float of less than 3 per cent.
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