New Delhi: ICICI Securities expects Jio Platforms Ltd’ (JPL) ensuing IPO to fetch ‘premium valuations’, as was the case in the high-profile equity raise of FY21, and has pegged the company’s equity value at $148 billion by September 2027.

The brokerage has also raised valuation estimates for Indian telecom operators under its coverage, citing ‘renewed optimism’ driven by stronger financial and business fundamentals across the sector. Friday’s report upgrading telcos takes into account an improved tariff structure and a renewed push for 5G adoption.