New Delhi, Nov. 4 -- Investors in diversified conglomerates often grapple with what is known as the holding-company discount: the tendency for markets to value a parent company at less than the combined worth of its individual businesses. Reliance Industries Ltd (RIL) is a case in point, with its massive oil-to-chemicals business, digital powerhouse and sprawling retail operations all housed under one corporate umbrella.

The public listing of Jio Platforms Ltd (JPL) on 28 October now gives investors a choice: those seeking exposure to telecom and digital services can invest directly in Jio without having to take exposure to RIL's other businesses. In fact, analysts expect JPL's listing to trigger a re-rating of RIL shares.

"With Jio now...