Jio Platforms is all set to make its much-awaited debut in the stock market on October 28. According to grey market signals, allottees of this mega issue may get a handsome listing gain of more than 22 percent as the grey market premium stands at 247 rupees, which is 22 percent higher than the issue price.
The first public offering (IPO) of 30,213 crores by the company has broken several records. As a unit of Reliance Industries led by Mukesh Amabani, Jio Platforms is fully prepared for this market debut. Prior to listing, the unlisted shares of Jio Platforms were trading at 1,366 rupees per share in the unofficial grey market. 07 percent is being observed.
Assuming a lot size of 12 shares, this could result in a profit of approximately 2,964 rupees per lot. However, it's important to note that the grey market is an informal platform, and the GMP doesn't guarantee the performance on the listing day. The premium may fluctuate before listing, while the actual price of the shares will depend on demand and supply on the stock exchange.
Regarding when the shares will list on NSE and BSE, Jio Platforms shares will make their debut on October 28, which is a Wednesday. Prior to this, the share allotment for the IPO is expected to be finalized by October 26, which is a Monday, and refunds for those who didn't get shares will start from October 27, which is a Tuesday. According to National Stock Exchange data, Jio Platforms IPO received an overwhelming response from investors during the three-day public bidding and was subscribed over 22 times its offer size.
The demand from institutional investors was the highest. 55 times. 72 times bids compared to the shares reserved for them.
This is the biggest IPO in the country. The 30,213 crore first public issue of this telecom sector giant broke multiple records. It surpassed the 27,870 crore IPO of Hyundai Motor India launched in 2024, acquiring the title of India's largest IPO ever. This issue created new records in terms of fund raising, anchor investor demand, and applications, while Also, among India's five largest IPOs, it received the highest Qualified Institutional Buyers subscription. 4 crore applications.