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Jio Platforms IPO GMP Today: Jio Platforms' initial public offering (IPO), India's biggest IPO, is set to list on the stock exchanges on October 28, following a subscription of 22.19 times during its three-day bidding window. The Rs 30,187.65 crore issue attracted strong demand from institutional investors, with the allotment status finalised in the previous trading session.
According to various websites tracking the unlisted market, the grey market premium (GMP) for Jio Platforms IPO stands at Rs 245. At this premium, the shares are expected to list at Rs 1,364 against the issue price of Rs 1,119, implying a potential listing gain of 21.89 per cent.
Jio Platforms IPO Subscription Status
Jio Platforms IPO was open for subscription from October 21 to October 23. The issue received bids for 4,38,26,15,568 shares against 19,75,25,934 shares on offer, taking the overall subscription to 22.19 times.
The Qualified Institutional Buyers (QIBs) category led the subscription, followed by the Non-Institutional Investors (NIIs). Here is the category-wise subscription breakdown:
- Qualified Institutional Buyers (QIBs): 70.55x
- Non-Institutional Investors: 14.00x
- Retail Individual Investors (RIIs): 2.72x
- Employees: 2.93x
- Shareholders: 7.60x
Jio Platforms IPO GMP Today
The grey market premium for Jio Platforms IPO stands at Rs 245, according to various websites tracking the unlisted market. Based on the upper issue price of Rs 1,119, the estimated listing price works out to Rs 1,364 per share.
At the current GMP, a retail investor could potentially make an estimated profit of Rs 2,940 on a lot of 12 shares.
The GMP has remained elevated over the past two weeks. After touching a high of Rs 273 on October 20, the premium has largely remained in the Rs 240-250 range, indicating a potential listing gain of 21-24 per cent over the upper end of the price band of Rs 1,119.
However, the GMP is an unofficial indicator of the premium at which shares are being traded in the unlisted market.
Jio Platforms IPO Allotment Status
The allotment status for Jio Platforms IPO was finalised in the previous trading session after the completion of the three-day subscription window.
Investors can check their allotment status through the official websites of the NSE, BSE or the IPO registrar, KFin Technologies.
Jio Platforms IPO: A record-breaking issue
Jio Platforms IPO has set records ahead of its stock market debut. With a book-built issue of Rs 30,187.65 crore, it is India's biggest IPO. The issue comprises an entirely fresh issue of 27 crore shares.
Additionally, Jio Platforms became the world's first IPO to receive over 1 crore applications during its three-day subscription window.
Jio Platforms IPO: Usage of proceeds
According to the company's Red Herring Prospectus (RHP), the proceeds from the issue will be used for the following purposes:
- Prepayment, in full or in part, of certain outstanding borrowings availed by the Material Subsidiary, namely, Reliance Jio Infocomm Limited (RJIL).
- General corporate purposes.
- Issue expenses.
Jio Platforms shares are scheduled to list on the NSE and BSE on October 28, following the finalisation of the IPO allotment and the completion of the subscription process.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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