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Jio Platforms Share Price Today: Stock Rises 5%, IPO Investors Gain Over 32%

Posted on 29th Oct 2026 11:40 am by rohit kumar

Jio Platforms shares extended their post-listing rally on Thursday, October 29, rising around 5% to touch ₹1,482.70 on the National Stock Exchange (NSE). The stock's strong performance has rewarded investors who received shares in the company's initial public offering (IPO), with the price climbing more than 32.5% above its issue price of ₹1,119 at the reported intraday level.

 

The rally follows a strong stock market debut on Wednesday, October 28, when Jio Platforms shares listed at ₹1,358, a premium of 21.36% over the IPO price, and finished the session around 27% above the issue price.

 

Meanwhile, brokerages including Nomura, Motilal Oswal Financial Services and Elara Capital have initiated coverage with Buy ratings, highlighting the company's telecom market position, potential tariff increases, broadband expansion and improving cash generation. However, their published target prices are below the stock's reported second-day intraday level, making valuation an important consideration for investors.

 

Jio Platforms Share Price Today: How Much Have IPO Investors Gained?

 

Jio Platforms continued to attract buying interest on its second trading day. The stock touched ₹1,482.70 on the NSE, extending its gains after a strong debut.

 

Here is how the reported price movement compares with the IPO issue price:

 

IPO issue price: ₹1,119 per share

 

Listing price: ₹1,358 per share

 

First-day closing level: Around ₹1,417

 

Second-day intraday level: ₹1,482.70

 

Gain over the IPO price: Approximately 32.5% at ₹1,482.70

 

At the reported intraday price, an investor allotted one lot of 12 shares at ₹1,119 would have an investment value of approximately ₹17,792, compared with the original investment of ₹13,428. That represents an unrealised gain of around ₹4,364 before taxes and transaction charges.

 

These returns apply to investors who received shares at the IPO issue price. Investors buying shares in the secondary market at higher prices would have different returns. The ₹1,482.70 figure is an intraday level, not necessarily the closing price.

 

Jio Platforms IPO Subscription: Strong Demand From Institutional Investors

 

Jio Platforms' IPO attracted substantial demand during its three-day subscription window. The issue was subscribed approximately 22.19 times overall, while the portion reserved for Qualified Institutional Buyers (QIBs) received bids equivalent to 70.55 times the shares available in that category.

 

The strong institutional response reflected investor interest in the company's position across mobile connectivity, home broadband and digital services.

 

The IPO had an issue price of ₹1,119 per share and a total issue size of approximately ₹30,213 crore. The stock's post-listing performance has since brought investor attention to its valuation, growth prospects and the outlook presented by brokerage firms.

 

Jio Platforms Share Target Price: What Do Brokerages Say?

 

Nomura, Motilal Oswal and Elara Capital have initiated coverage on Jio Platforms with Buy recommendations. Their reports point to opportunities from tariff increases, rising average revenue per user (ARPU), broadband growth and the monetisation of digital services.

 

An important valuation point: These target prices were framed around the IPO issue price of ₹1,119. At the reported intraday market price of ₹1,482.70, all three targets were below the prevailing share price. Investors should therefore distinguish between the upside originally indicated relative to the IPO price and the potential return from buying at a higher market price.

 

Brokerage ratings reflect analysts' assumptions and estimates; they do not guarantee future share-price performance.

 

Tariff Hikes and ARPU Could Support Revenue Growth

 

Potential telecom tariff increases are one of the key factors in the bullish investment case for Jio Platforms. Brokerage commentary has pointed to a possible industry-wide tariff hike of around 12–15%, potentially during November–December 2026 or the second half of FY2027.

 

Higher tariffs could improve average revenue per user, provided subscriber retention and usage trends remain supportive.

 

Elara Capital expects Jio's ARPU to rise from approximately ₹214 in FY2026 to ₹257 by FY2029. Higher ARPU, together with subscriber growth and the expansion of home broadband, could support revenue and earnings over the medium term.

 

However, the timing and size of any tariff increase remain uncertain. Competition, customer affordability and subscriber churn could affect the eventual outcome.

 

Lower Capital Expenditure Could Improve Free Cash Flow

 

Another factor highlighted by analysts is the prospect of lower capital expenditure following the major phase of the company's 5G network rollout.

 

The brokerage estimates supplied for this outlook suggest that capital expenditure could decline from around 35% of revenue in FY2025 to 23% in FY2026. Lower spending relative to revenue could improve free cash flow and give the company greater flexibility to invest in digital services, broadband infrastructure and other growth opportunities.

 

The actual benefits will depend on future network investment requirements, operating costs and the pace at which new services generate revenue.

 

Debt Reduction and Digital Services Remain Key Growth Drivers

 

Jio Platforms' investment case also includes the potential for balance-sheet improvement. Nomura's estimates indicate that the net debt-to-equity ratio declined from 0.56 times in FY2024 to 0.37 times in FY2026, with the company projected to become net debt-free by FY2029.

 

This is a forecast rather than a confirmed future outcome. Execution, cash generation and investment requirements will influence whether the target is achieved.

 

Beyond telecom connectivity, analysts are also watching the company's expansion into areas such as cloud services, enterprise solutions, artificial intelligence-related offerings and digital platforms. These businesses could create additional revenue opportunities over time, although their financial contribution will depend on adoption and monetisation.

 

Jio Platforms Market Capitalisation and Industry Position

 

Jio Platforms' strong listing and subsequent rally have put its market valuation in focus. Reports have placed its initial market capitalisation at approximately ₹12.5 lakh crore, positioning it among India's most valuable listed companies.

 

Any comparison with Bharti Airtel or Reliance Industries should use market capitalisations calculated at the same point in time, as share-price movements can quickly change the rankings.

 

Jio's scale in wireless connectivity and its digital services ambitions are central to the long-term investment case. At the same time, investors need to assess whether the current valuation already reflects a substantial portion of the anticipated growth.

 

Should Investors Buy, Sell or Hold Jio Platforms Shares?

 

Jio Platforms has delivered strong listing gains, while brokerage firms have identified potential growth drivers in tariff increases, ARPU improvement, broadband expansion, digital services and lower capital expenditure.

 

However, a rising share price does not automatically make a stock attractive at every level. With the reported second-day intraday price above the initial targets published by Nomura, Motilal Oswal and Elara Capital, investors should reassess those estimates against the current market price rather than relying only on the original Buy ratings.

 

Existing IPO allottees may be sitting on substantial unrealised gains, while new investors face a different entry price and risk-reward profile. Investors should consider their time horizon, risk tolerance, valuation assumptions and the possibility of volatility before making a decision.

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