Three brokerages have started coverage of Jio Platforms with Buy ratings on its listing day, setting targets roughly 20% to 22% above the ₹1,119 issue price. Elara Securities has the highest target at ₹1,367, followed by Motilal Oswal at ₹1,350 and Nomura at ₹1,340. Nomura called Jio a scale leader moving into a phase of higher monetisation and valued it at 12 times December 2028 rolling EBITDA, the same multiple it applies to Bharti Airtel’s India wireless arm. All three point to home broadband as a key second growth driver after mobile.

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