New Delhi, Oct. 19 -- The upcoming issue of Jio Platforms Ltd, the digital services arm of Reliance Industries, is valued at approximately Rs.10.3 lakh crore at the upper end of its issue price, with brokerage firm Anand Rathi recommending a 'Subscribe - Long Term' rating, citing the company's market leadership, integrated digital ecosystem, and long-term growth opportunities.

At the upper issue price, the company is valued at 34.3 times its FY26 price-to-earnings (P/E) ratio and 14.8 times its FY26 enterprise value to EBITDA (EV/EBITDA) ratio, according to Anand Rathi.

The brokerage said the valuation appears reasonable relative to Jio Platforms' long-term growth potential, supported by its profitability, scalable technology platform, ...