Jio Platforms share price up 28% from IPO price. Here’s what these 4 brokerages are saying
Jio Platforms shares have surged 28% since their recent IPO, outperforming market expectations and establishing the company as a major player in the Indian telecom sector. Four major brokerages have issued bullish ratings, citing the company's strong 5G infrastructure and improving debt profile.
Why it matters
The successful listing and rapid growth of Jio Platforms signal significant shifts in the Indian telecommunications market and investor confidence in large-scale digital infrastructure.
Jio Platforms shares gained over 1% to Rs 1,435 on Friday, extending their strong post-listing rally. The stock made its market debut on Wednesday at Rs 1,359, marking a 21.36% premium above its IPO price. With the latest gains, the shares have climbed more than 28% in their first three trading sessions.Jio Platforms emerged as India's second-largest listed company by market capitalisation on its debut, after listing at Rs 1,358. The listing valued the company at around Rs 12.5 lakh crore, placing it ahead of rival Bharti Airtel.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.
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