Jio Platforms, backed by Reliance Industries Limited, is launching a ₹30,213 crore initial public offering (IPO) with subscription opening on October 21 and closing on October 23. The IPO comprises 27 crore fresh shares priced in a band between ₹1,065 and ₹1,119 per share. Retail investors must apply for a minimum of 12 shares, requiring an investment of at least ₹13,428, according to livemint.com.
The IPO's grey market premium (GMP) has shown strong upward momentum, standing between ₹245 and ₹249 as of early October 19. This GMP suggests an expected listing price of around ₹1,368 per share, combining the upper price band with the premium. Such a figure points to potential listing gains of approximately 22.25%, reflecting robust market interest ahead of the public subscription window.
This offering represents one of the largest fresh equity issues in recent times, underscoring Jio Platforms’ strategy to raise capital for expansion and technology investments. The price band and GMP indicate strong investor confidence, positioning the IPO among significant market events this year. The minimum application size aligns with retail participation trends seen in comparable large-cap technology IPOs in India.
The IPO allotment is scheduled to be finalized on October 26, with the shares expected to debut on the NSE and BSE on October 28. Market participants will closely watch the listing performance to gauge investor sentiment in the technology sector.