MumbaiJio Platforms listed 25% above issue price at $137.1 billion.
Mukesh Ambani now controls India’s two most valued companies.
Reliance Industries keeps over 64% of Jio, and 3% dilution wiped out nearly 300 billion rupees of debt, an analyst said.
Analysts say most of the value is already priced in, at 34 times earnings.
Angel One’s Vaqarjaved Khan says returns now hinge on higher revenue per user and AI services.
How each outlet framed it
drawn from 150+ reports worldwide
- CNBC leans favorable
- compares Jio's $137B market cap to AT&T and Verizon and notes Reliance owns over 64% of Jio, making Ambani owner of India's two most valuable firms
Sources: CNBC