Synopsis

Jio Platforms will list on October 28, with a grey market premium of Rs 247 indicating a potential 22.07% listing gain. The Rs 30,213-crore IPO was subscribed over 22 times, led by strong institutional demand.

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Strong subscription and a double-digit grey market premium put Jio Platforms’ listing in focus.

Jio Platforms is all set to make its much-awaited market debut this week, with the grey market continuing to signal decent listing gains of a little over 22% for the IPO allottees of the mega issue of the Mukesh Ambani-led Reliance Industries arm.

Ahead of listing, the unlisted shares of Jio Platforms were trading at Rs 1,366 apiece in the unofficial grey market. This marks a grey market premium (GMP) of Rs 247 per share or 22.07% over the upper end of the price band of Rs 1,119 apiece.

Also read | Jio IPO ends with over 22X oversubscription; QIB portion booked 70 times

Assuming a lot size of 12 shares, this would translate into an indicative gain of Rs 2,964 per lot. However, it is important to note that the grey market is an unofficial platform, and the GMP does not guarantee listing-day performance. Premiums can fluctuate before listing, while the actual share price will depend on demand and supply on the stock exchanges.

Jio IPO listing date: When will shares list on NSE, BSE?

Shares of Jio Platforms will make their much-awaited market debut on October 28 (Wednesday). Prior to that, the share allotments for the IPO will likely be finalised by October 26 (Monday), and the refunds for the unallotted shares will be initiated by October 27 (Tuesday).

Also read | Jio IPO breaks multiple records: From fundraising to investor demand, how the mega issue rewrote India’s IPO history

This comes after the Jio Platforms IPO saw strong investor interest during its three days of public bidding, being subscribed over 22 times its offer size, according to data from the National Stock Exchange (NSE).

Institutional investors led the demand, with the qualified institutional buyers (QIB) category was subscribed 70.55 times by the close of bidding. The non-institutional investor (NII) segment was subscribed 14 times, while the retail individual investor (RII) category received bids equivalent to 2.72 times the shares reserved for it.

The Rs 30,213-crore maiden public issue for the telecom giant broke several records, including the title of India’s largest-ever IPO by surpassing Hyundai Motor India’s Rs 27,870-crore offering in 2024. The issue set records across fundraising, anchor investor demand and applications, while attracting the highest qualified institutional buyer (QIB) subscription among India’s five largest IPOs. It was fully subscribed within 100 minutes of opening and received nearly 1.4 crore applications, according to figures compiled for the issue.

Also read | Can Jio IPO unlock hidden value in Reliance Industries shares?

Disclaimer: This article has been written by Debaroti Adhikary, who is not a SEBI-registered Research Analyst or an Investment Adviser. Debaroti Adhikary and his/her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.

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