The stock opened at ₹1,417.50 on the NSE and closed at ₹1,419, a 26.81% jump that catapulted the company’s market capitalisation beyond ₹13 lakh crore, making it India’s second‑largest listed firm after Reliance Industries—
Jio Platforms’ IPO was priced at ₹1,119, yet the first‑day premium of 21.36% reflected an eagerness that saw 22.19× total subscription and over ₹7.4 lakh crore in bids, including ₹2.5 lakh crore from anchor investors and nearly ₹4.9 lakh crore from the public. The three‑day auction attracted more than 1 crore applications, the first global IPO to cross that threshold.
Motilal Oswal Financial Services launched coverage with a 'Buy' rating and a ₹1,350 target price, citing the company’s telecom leadership, tariff‑setting power and a free‑float under 3%. Nomura followed suit with a ₹1,340 target. Both brokerages project a compound annual growth rate of 13.5% in EBITDA and a 20% CAGR in profit after tax for FY26‑FY29, driven by subscriber growth, tariff hikes and expansion of digital services.
Analysts point to a projected 15% rise in smartphone tariffs from March 2027 and the potential discontinuation of unlimited 5G plans, both of which could lift average revenue per user. Jio’s digital ecosystem—broadband, gaming, music and cloud—adds further monetisation avenues, while its 42% share of wireless subscribers and 60% share of data traffic position it to influence industry pricing.
The market’s immediate reaction—over 26% first‑day return—may set the stage for a near‑term rally, but investors will watch fiscal guidance and ARPU trajectories for true long‑term upside.