Leader's Premium: The math behind Jio Platforms' price (opens original article in a new tab)

Jio Platforms' IPO is priced at a premium over listed peers, reflecting its market leadership and scale in telecom and digital services. The company's valuation multiples are higher than global telecom giants, despite smaller revenue and profit figures. Jio's revenue and Ebitda margins show growth, while Bharti Airtel has higher ARPU and operating margins.

• Jio Platforms' IPO is priced at a premium compared to listed peers due to its market leadership and scale in telecom and digital services.
• Jio's P/E multiple ranges from 40 to 46, while its EV/Ebitda is 16-19 times, higher than global telecom giants like T-Mobile and Verizon.
• Jio's revenue grew 16% annually to ₹1.5 lakh crore, with a 50-52% Ebitda margin, while Bharti Airtel's revenue grew 19% to ₹2.1 lakh crore with a 57% operating margin.