Jio IPO shares to list on Wednesday; analysts recommend a 'buy-and-hold strategy for long-term wealth creation'

He said opportunities in artificial intelligence (AI), enterprise digital services and fixed broadband also offered scope for long-term growth. At the final issue price, Jio Platforms is valued at 34.3 times its FY2026 price-to-earnings ratio and 14.8 times its FY2026 enterprise value-to-EBITDA ratio, implying a market capitalisation of around Rs 10.3 lakh crore, Solanki said. "On listing, investors may continue to hold the shares for the long term," adding that the company has a dominant position in India's mobile broadband market, with 533.3 million customers and around 49.8 percent share of the wireless broadband market.

Its proprietary technology stack, extensive distribution network and strong brand franchise provided competitive advantages and created high entry barriers. However, telecom regulation, spectrum requirements, technological disruptions and cybersecurity threats remained key concerns, he said. The telecom and digital services arm of Reliance Industries was fully subscribed within 100 minutes of opening, according to subscription figures, making it the fastest fully subscribed public issue in Indian history.

The qualified institutional buyers portion, worth Rs 5,500 crore, was fully subscribed within the first 10 minutes. By the close of bidding, the IPO had been subscribed 22.2 times, with total demand across the public issue and anchor placement exceeding Rs 7.4 lakh crore. Mahesh M Ojha, Vice President of Research and Business Development at Kantilal Chhaganlal Securities, said Jio Platforms' proprietary technology stack, backed by 7,220 patent applications, helped it avoid third-party vendor fees and supported an EBITDA margin of 51.91 percent.

He said the company's capital allocation strategy had reduced net leverage to 0.36 times in FY2026, indicating a shift from heavy infrastructure spending towards higher free cash flow generation. Future growth would be driven by tariff hikes, rising per-capita data usage and the expansion of fixed broadband services such as JioFiber and JioAirFiber, which cater to higher average revenue per user (ARPU), Ojha said.

"The firm's robust compounding potential justifies a definitive buy-and-hold strategy for long-term wealth creation," he added. Jio Platforms listing is also expected to make Reliance Group India's largest listed business group by aggregate market capitalisation.