Ambani bluechip bet gets bigger: Investors mark 82% of traded Jio shares for holding beyond listing

Jio Platforms' stock market debut on Wednesday saw investors showing a strong appetite for holding the telecom giant's shares, with nearly 82% of the traded volume marked for delivery, indicating substantial interest in owning the stock beyond intraday trading.According to NSE trading data, 81.88% of the shares traded were marked for delivery, with total traded volume standing at 13.02 crore shares.

This translates into nearly 10.66 crore shares marked for delivery, while the remaining 2.36 crore shares represented non-delivery trading volume.Catch all the Jio IPO listing day action live hereThe stock recorded a traded value of Rs 17,700 crore, while its market cap stood at Rs 12.53 lakh crore at the time of the exchange data snapshot.The high delivery percentage suggests that a large proportion of trading activity involved investors retaining shares beyond the session.

However, delivery transactions do not necessarily indicate long-term investment, as these shares can also be sold in subsequent sessions.Live EventsJio makes a healthy market debutShares of Mukesh Ambani-led Jio Platforms listed at Rs 1,358 on the BSE and NSE, a premium of 21.36% over the IPO price of Rs 1,119. The listing delivered an immediate gain of Rs 239 per share to investors who received allotment in India's biggest public offering.Jio's Rs 30,188 crore IPO attracted overwhelming demand from investors, receiving bids worth Rs 4.9 lakh crore in the public book.

The offering was subscribed 22.19 times, with qualified institutional buyers bidding for 70.55 times their reserved portion.38 crore applications, setting a new benchmark for participation in India's primary market.Jio's debut propelled it into the ranks of India's most valuable listed companies, giving public market investors direct exposure to Reliance Industries' telecom and digital services business.Three brokerages initiate coverage with Buy ratingsThe strong listing coincided with positive recommendations from three brokerages, although their price targets suggest that much of the expected near-term upside has already been captured in the debut.Japanese brokerage Nomura initiated coverage with a Buy rating and a target price of Rs 1,340, implying 19.7% upside from the IPO price.

Nomura highlighted Jio's leadership in wireless subscribers, data consumption and home broadband, expecting tariff hikes and improving free cash flow to support future earnings.The brokerage expects Jio's capital expenditure requirements to moderate as the company completes its major 5G network investments.Motilal Oswal also initiated coverage with a Buy rating and a target price of Rs 1,350, indicating nearly 21% upside from the issue price.

The brokerage sees Jio's consolidated revenue to grow at a compound annual rate of 14% between FY26 and FY29, while EBITDA and net profit are projected to increase by 15% and 20%, respectively.It identified subscriber additions, higher average revenue per user (ARPU), home broadband expansion and digital services as key growth drivers.Elara Securities assigned a Buy rating with a target price of Rs 1,367, representing 22% upside from the IPO price.

Elara expects the scaling up of Jio's digital services business to strengthen profitability over the coming years, alongside continued growth in its core mobile operations.What does the high delivery percentage indicate?Jio's near 82% delivery percentage stands out given the substantial trading activity surrounding its debut. A high delivery proportion generally indicates that a large share of market transactions resulted in ownership being carried into settlement, rather than being squared off during the trading session.For Jio, the figure suggests meaningful delivery-based participation even after investors received listing gains exceeding 21%.However, trading volumes alone cannot establish how long investors intend to hold their shares.

The delivery percentage may also change as the session progresses.Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication.

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