This week its Rs. Ahead of the 30,213 crore IPO, multiple brokerage firms say that after completing the 5G rollout largely in its telecom unit, Jio Platforms is now focusing on AI, home broadband, enterprise services and exporting its in-house technology for the next phase of its growth. This mega IPO, in which per share Rs. The new shares will be issued at a price of 1,065-1,119, it will open on October 21 and close on October 23. At the same time, the bidding process for anchor investors is scheduled for October 19.

According to sources, large institutional investors from India and abroad have invested around Rs. 2.5 lakh crore interest has been shown. Sources said Abu Dhabi Investment Authority (ADIA), which has already invested in Jio Platforms, has also shown interest in participating in the institutional portion of the IPO, although this has not been independently confirmed yet. According to sources, Jio Platforms held another round of pre-IPO meetings with brokers and analysts on Saturday. Meanwhile, the company’s managing director Akash Ambani and his sister Isha Ambani (who is a director on the company’s board) presented the development roadmap to the participants. Before this, a round of meetings was held on Thursday as well.

Sources said retail investors and employees have also shown interest in the IPO and the pre-IPO application process has started on some brokerage platforms. He further informed that investors having demat accounts can participate in the application process through their respective brokers. Employees have also started inquiring about this, which shows their keen interest in this offer. Meanwhile, brokerage firms believe the company’s next growth will come from AI, home broadband, enterprise services and licensing of its technology overseas.

MK Global Report

Amk Global said the company’s own in-house technology prepares it for the next phase of growth. He said Jio has developed strong in-house technology capabilities, including a ‘Made in India’ end-to-end 5G stack. This includes a 4G+5G combination core, 5G devices and the company’s own ‘Operations Support System’ (OSS) and ‘Business Support System’ (BSS). Its own ‘Point-to-Multipoint Unlicensed Band Radio’ (UBR) technology makes it the first company in India to offer ‘Fixed Wireless Access’ through UBR. Jio Platforms aims to implement these technologies in select international markets in collaboration with local operators, Emke said.

Given the company’s market leadership, pricing power, growth opportunities and excellent track record of execution, the brokerage firm recommends subscribing to the issue. According to MK Global, the main risks include spectrum costs and changes in regulations. Additionally, intense competition in the market can affect average revenue per user (ARPU) and customer churn. Dependence on other Reliance Group companies, high reliance on idle infrastructure and equipment vendors and foreign exchange risks are also included.

What is in a GEPL report?

GEPL said in its report that the company’s own indigenous standalone 5G technology, ‘JioBrain AI’ platform, investments in 6G research, cloud-native architecture and AI-based network automation give it a technological edge. This could give the company new opportunities to monetize its capabilities through enterprise solutions and overseas markets.

Overall, Jio platforms are positioned to benefit from growing 5G adoption, fixed broadband expansion, enterprise digitalization and AI-based services, the report said. The company has its technology, economies of scale, diverse digital ecosystem and strong profitability, which will support its continued growth.

According to GEPL, by partnering with telecom operators and expanding internationally by monetizing its 5G core technology, cloud-native RAN, OSS/BSS and fixed wireless access technologies, the company can create new revenue streams beyond home connectivity services. It further said that Jio Platforms plans to extend its ‘JioBrain AI’ platform and autonomous network capabilities to global telecom operators and other industries.

For this, it will use its extensive network and operational data to develop technical solutions that can be implemented at scale. According to the report, investments in satellite connectivity and renewable energy can also be good opportunities to increase network reach and improve operational efficiency.

What does SMC say?

The SMC said Jio’s strengths include “unparalleled scale” (533.3 million subscribers and nearly 60 percent share of wireless data traffic), in-house technology stack, distribution reach from Reliance Retail and a broad portfolio of spectrum (including low-, mid- and high-frequency bands—such as network capacity, balance and balance cover, ancillary capacity). data speed). It also said that cash capital expenditure fell to 23.27 per cent of revenue in FY26, indicating lower investment intensity relative to the company’s revenue base.

In terms of risk factors, the SMC said any adverse change by the Department of Telecom in telecom licensing conditions, calculation of Adjusted Gross Revenue (AGR) or Spectrum Usage Charge (SUC) rules could significantly increase financial liabilities. Other risks include over 87 percent revenue dependence on Reliance Jio Infocomm (RJIL), distribution through Reliance Retail only, competition and cyber security.

SBI Securities Report

SBI Securities noted that Jio is positioning itself as a technology platform. Its own in-house stack, leadership in 5G and vast spectrum availability give it an edge beyond just connectivity. They expect growth from tariff rationalization, subscriber migration to 2G, home broadband and enterprise adoption. Apart from this, new earning opportunities can also be found through AI, satellite and overseas expansion. He said that the capital expenditure (capex) incurred for 5G will help in strong cash flow. Also, they identified capex overruns, infrastructure dependencies, cyber security, spectrum renewal and network disruption as potential risks.