The company established itself as India's largest listed telecom operator after shares surged almost 27% from their issue price. Trading activity was exceptionally heavy, generating a combined turnover exceeding ₹26,500 crore across the NSE and BSE. Brokerage firm Elara Securities initiated coverage with a buy recommendation, citing the group's integrated technology stack and projecting a 23% compound annual growth rate for profit after tax between FY26 and FY29E.
Key points
Allotted investors secured an immediate return of ₹300 per share by the close of the list…: Allotted investors secured an immediate return of ₹300 per share by the close of the listing session.
Heavy market participation drove combined stock exchange turnover past ₹26,500 crore on t…: Heavy market participation drove combined stock exchange turnover past ₹26,500 crore on the first trading day.
Growth projections from Elara Securities model a 16% EBITDA CAGR over the FY26 to FY29E t…: Growth projections from Elara Securities model a 16% EBITDA CAGR over the FY26 to FY29E timeframe.
Sources checked by our analysis pipeline: 1
Jio Platforms share price will remain in focus on Thursday, October 29, after making a strong debut on the stock exchanges. The shares surged nearly 27% above their IPO price, while the combined trading turnover on the NSE and BSE crossed ₹26,500 crore.
Jio Platforms shares listed at ₹1,358, marking a premium of 21.36% over the issue price of ₹1,119. The stock extended its gains during the session to close at ₹1,419, up 26.81% from the IPO price. This translated into a gain of ₹300 per share for investors who were allotted shares at the upper end of the price band.
At the opening price, Jio Platforms commanded a market valuation of approximately ₹12.5 lakh crore, making it India's second-most valuable listed company and the country's largest listed telecom operator. Its market capitalisation climbed further to around ₹13.1 lakh crore by the end of the trading session.
Brokerage firm Elara Securities has initiated coverage on the newly listed Jio Platforms share price with a ‘buy’ rating. The brokerage firm has given the target price of ₹1,367 per share, seeing an…
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