Jio Platforms IPO likely by October-November; AI and ARPU growth in focus: Piyush Pandey

Analyst Piyush Pandey expects Jio Platforms' IPO to launch in October-November, requiring another three to four months. The issue will involve a 2.9% fresh equity dilution, with current ARPU at Rs 214 per month expected to grow at around 10 percent annually over the next four to five years, driven by tariff hikes of 10-12 percent and 5G adoption. A 20-25 percent holding company discount is anticipated for parent Reliance Industries post-listing, though AI-based applications and the new energy business could offset part of the valuation impact.