Post the recent price correction, impact of Jio's offer is already built in to some extent. We build the impact of Jio's Hello Postpaid offer and revise our TP for Bharti to Rs 460 (from Rs 487 earlier) and for Idea to Rs 70 (vs. Rs 86) Reliance Jio (RJio) has introduced postpaid plan @ Rs 199/month (vs. ~Rs 299-499 for Bharti/Voda/Idea) with unlimited voice, 25GB data and lower tariffs on ISD calls and international roaming. Postpaid is small segment of industry customer base (5% or ~50mn customers), but high ARPU (~Rs 350) and contributes ~20% of revenues.