Jio Platforms Limited (JPL) is set to launch its Rs 30,213 crore Initial Public Offering (IPO) on October 21. Ahead of this event, brokerage firms are issuing positive assessments, highlighting multiple growth drivers for the company.
Jio Platforms is already recognized as India's largest digital connectivity company. Research from various brokerages suggests that its upcoming phase of growth could be even more substantial.
IPO notes from GEPL Capital, Ventura Securities, and SMC Global point to several growth engines. These include upgrades from 2G to 4G/5G, expansion in home broadband services, advancements in enterprise cloud and AI, and the sale of Jio's proprietary technology to international telecom operators.
The company has demonstrated strong financial performance, with average revenue per user (ARPU) increasing from Rs 181.7 in FY24 to Rs 215.6 in Q1FY27. Additionally, monthly data usage per customer has climbed to 43.7 GB.
Home broadband is identified as another growth area. JioFiber and JioAirFiber are positioned to capitalize on India's relatively low fixed broadband penetration.
GEPL projects that fixed broadband penetration, which was approximately 21 percent in FY26, is expected to reach around 46 percent by FY31. SMC Global adds that the expansion of JioAirFiber, its fixed wireless access service, will further support broadband adoption in various locations.
