# Jio Platforms IPO: 34x P/E Band for Rerating?

> Jio Platforms' IPO price band of Rs 1,065-1,119 per share could justify a 34x P/E multiple for rerating.
- Title: Jio Platforms IPO: 34x P/E Band for Rerating? | Shortify
- Summary: Jio Platforms' IPO price band of Rs 1,065-1,119 per share could justify a 34x P/E multiple for rerating. Jio Platforms' IPO at Rs 1,065-1,119 per share may…
- Keywords: jio platforms, ipo, reliance, mukesh ambani, akash ambani, isha ambani, uday kotak, sbi securities, centrum, rs 10 lakh crore, 34x pe, rerating
- Source: Financialexpress — https://financialexpress.com/market/ipo-news-the-rs-10-lakh-cr-digital-giant-is-jio-platforms-34x-pe-band-built-for-a-rerating-4363033
- Author: Oliviya Kunjumon
- Published: 2026-10-16T10:49:01+00:00
- Read time: 1 min
- Topics: jio platforms, ipo, reliance, mukesh ambani, akash ambani, isha ambani, uday kotak, sbi securities, centrum, rs 10 lakh crore, 34x pe, rerating
## Jio Platforms IPO Price Band
Jio Platforms has fixed its IPO price band at Rs 1,065-1,119 per share, potentially raising Rs 30,213 crore.
## IPO Valuation Context
This issue could become India’s largest-ever IPO, surpassing Hyundai Motor India’s Rs 27,858.75 crore issue in 2024.
## Akash Ambani on Debt Reduction
Akash Ambani stated all IPO proceeds will reduce debt, aiming for a net debt-free company.

> All our IPO proceeds go towards reducing our debt
## Akash Ambani on 6G Timeline
Akash Ambani mentioned Jio Platforms is in the pre-standard phase of 6G, with commercial rollout expected in early 2030s.
## Isha Ambani on Pricing Strategy
Isha Ambani emphasized pricing to attract investors for long-term value creation with Jio’s growth.

> For us, it is most important to be able to price this attractively so that shareholders who come in can create long-term value along with the growth of Jio Platforms
## Uday Kotak on Valuation
Uday Kotak noted Jio Platforms is valued at 34x FY25-FY26 earnings, compared to 41x for close peers.

> The RIL group, after Jio’s listing, will be India’s largest conglomerate, based on listed market cap.
## SBI Securities Assessment
SBI Securities reports Jio Platforms has 15.8% revenue CAGR, 16.2% EBITDA CAGR, and 18.5% PAT CAGR.

> The company delivered Revenue/EBITDA/PAT CAGR of 15.8%/16.2%/18.5%, respectively, during FY24-FY26 period
## SBI Securities on Growth Drivers
SBI Securities highlights 5G, tariff hikes, broadband expansion, and enterprise cloud services as key growth drivers.

> SBI Securities pointed to tariff rationalisation, the shift from 2G to 4G and 5G, higher data usage, home broadband expansion and growing demand for enterprise cloud services.
## SBI Securities Valuation
SBI Securities values Jio Platforms at 34.4x FY26 earnings and Rs 20,117 per subscriber.

> At the upper price band, SBI Securities values the issue at a post-issue price-to-earnings (P/E) multiple of 34.4 times FY25-26 earnings and an enterprise value per subscriber of Rs 20,117
## Centrum on Debt Repayment
Centrum reports Rs 27,500 crore of IPO proceeds will repay debt, reducing leverage and financing costs.

> Of the proceeds, Rs 27,500 crore is earmarked for debt repayment or prepayment
## Centrum on Tariff Hike
Centrum expects a 12% tariff hike in the next 3-4 months, boosting average revenue per user.

> Centrum expects average revenue per user (ARPU) to improve through tariff hikes, a better subscriber mix and increased adoption of premium services.
## Centrum Valuation
Centrum values Jio Platforms at Rs 11.5 trillion using 12x FY27-28 EBITDA multiple.

> On valuation, Centrum assigns Jio Platforms an equity value of Rs 11.5 trillion, based on an enterprise value-to-earnings before interest, taxes, depreciation and amortisation (EV/EBITDA) multiple of 12 times estimated FY27-28 EBITDA
## Key takeaway

Jio Platforms' IPO at Rs 1,065-1,119 per share may be priced for a rerating to 34x P/E multiple.