Reliance Jio Platforms is set to open its initial public offering (IPO) for subscription on October 21, aiming to raise ₹30,213 crore through a fresh issue of 27 crore shares. The IPO price band is fixed between ₹1,065 and ₹1,119 per share, with shares expected to list on the NSE and BSE on October 28, according to livemint.com.
The IPO subscription window will remain open until October 23, with share allotment scheduled for October 26. Retail investors can apply for a minimum of one lot, comprising 12 shares, requiring an investment of at least ₹13,428 at the upper price band. The grey market premium (GMP) for the IPO currently stands at ₹253, indicating strong demand ahead of the subscription period, as reported by Investorgain and cited by livemint.com.
The estimated listing price for Jio Platforms shares is projected at ₹1,372, representing a 22.61% premium over the upper price band. This IPO is set to surpass Hyundai Motor India's ₹27,800-crore public issue, making it one of the largest in recent times. The strong GMP and expected listing gains reflect robust investor interest in the telecom and digital services sector, highlighting Jio's market position.
The IPO allotment will be finalized on October 26, with shares scheduled to debut on the NSE and BSE on October 28. The public issue size and subscription timeline position Jio Platforms' IPO as a major capital market event this month.