Jio Platforms made a powerful stock market debut, recording turnover of ₹26,571 crore across NSE and BSE, almost equal to its IPO proceeds of ₹30,200 crore. Shares surged 27% to close at ₹1,417.50, lifting its market capitalisation to ₹13.1 lakh crore. This achievement positioned Jio as India’s second most valuable listed company, just behind Reliance Industries.
On NSE, turnover stood at ₹24,276 crore, while BSE contributed ₹2,295 crore. The debut accounted for nearly 88% of Nifty 50 turnover, which touched ₹30,152 crore. Jio outperformed Bharti Airtel and Reliance Industries, which recorded turnovers of ₹2,827 crore and ₹2,565 crore respectively.
Brokerages including Nomura and Motilal Oswal set price targets between ₹1,340 and ₹1,435, reflecting confidence in Jio’s growth prospects. Analysts highlighted Jio’s strong 5G coverage, higher data usage compared to rivals, and low customer churn as key strengths.
Industry experts expect a 15% tariff hike in November or December, which could boost average revenue per user. Jio is also planning tiered pricing, premium 5G services, and broadband expansion. Nomura projects EBITDA growth at 13.5% CAGR between FY26 and FY29.
Globally, Jio now ranks as the fifth most valuable telecom company, ahead of Deutsche Telekom and Bharti Airtel. Its debut underlines investor confidence and reinforces Jio’s dominance in India’s telecom sector.
