New Delhi, Oct. 28 -- New Delhi: Jio Platforms Ltd's stock-market debut has put it among the world's most valuable listed telecom companies, alongside Bharti Airtel Ltd. But with a market capitalization of about $137 billion (about Rs.13 trillion) and annual revenue of just $15.5 billion ( Rs.1.47 trillion) Jio faces a key test: turning its premium valuation into sustainable earnings growth and higher returns on capital.

Jio's shares posted strong listing gains on Wednesday, closing at Rs.1,417.50 apiece on the National Stock Exchange, 26.7% above the issue price of Rs.1,119. The focus now shifts to monetization and growth beyond mobile connectivity.

Jio Platforms, the digital services arm of Reliance Industries Ltd (RIL), houses its te...