The trading surge lifted shares past Rs 1,482 on the NSE, marking a gain of more than 32.5% over the initial offer price. Analysts from Nomura, Motilal Oswal, and Elara Capital established positive outlooks based on anticipated tariff hikes and expanding average revenue per user. The company's completion of core 5G investments is expected to lower capital outlays, improving cash flow alongside ongoing digital services expansion. Furthermore, the strong market debut reflected robust primary demand, as the initial offering had concluded with total bids reaching 22.2 times the available shares.
Key points
Leading brokerages initiated Buy ratings on the telecom firm with price targets ranging b…: Leading brokerages initiated Buy ratings on the telecom firm with price targets ranging between Rs 1,340 and Rs 1,367.
A dominant 41.7% wireless subscriber market share as of August 2026 underpins the company…: A dominant 41.7% wireless subscriber market share as of August 2026 underpins the company's competitive standing.
Decreasing capital expenditure following the 5G network rollout is expected to strengthen…: Decreasing capital expenditure following the 5G network rollout is expected to strengthen future cash flows and reduce leverage.
Sources checked by our analysis pipeline: 1
The telecom major's shares jumped to Rs 1,482.70 apiece on NSE. The stock is currently more than 32.5% up from the IPO price.
Jio Platforms Ltd. became India’s second-largest listed company by market capitalisation on its debut, after its shares listed at Rs 1,358. The listing valued the company at around Rs 12.5 lakh crore, putting it ahead of Bharti Airtel, with a market capitalisation of roughly Rs 12.1 lakh crore, and behind only its parent, Reliance Industries, valued at about Rs 15.95 lakh crore.
Investor demand for the IPO was strong, with the issue fully subscribed within 100 minutes of opening. The Rs 5,500 crore portion reserved for qualified institutional buyers (QIBs) was subscribed within the first 10 minutes. By the close of the third day, the IPO had received subscriptions of 22.2 times the shares on offer, while the QIB portion was subscribed 70.55 times.
Also read: No. 2 on Day 1: How Jio Platforms broke India’s market cap hierarchy in debut trade
Buy, sell or hold the stock?
Jio Platforms received three Buy recommendations on the day…
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