Jio Platforms is scheduled to make its market debut on October 28, following a successful IPO that garnered a grey market premium (GMP) of Rs 247, suggesting a potential listing gain of approximately 22.07%. The Rs 30,213-crore IPO was oversubscribed by more than 22 times, largely driven by strong institutional interest.
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In the grey market, unlisted shares of Jio Platforms are trading at Rs 1,366 each, based on the upper price band of Rs 1,119 per share. For IPO allottees, this implies an indicative gain of Rs 2,964 for a lot size of 12 shares. However, as the grey market operates unofficially, this premium does not guarantee actual performance on listing day, with prices subject to fluctuations driven by supply and demand dynamics on the exchanges.
The share allotment process is expected to be finalized by October 26, with refunds for unallocated shares processed by October 27.
During its three-day subscription period, the IPO saw a remarkable response, with the qualified institutional buyers (QIB) category being subscribed 70.55 times, while the non-institutional investors (NII) and retail individual investors (RII) segments were subscribed 14 times and 2.72 times, respectively. This offering has not only set a record as India's largest-ever IPO, surpassing Hyundai Motor India's previous record of Rs 27,870 crore in 2024, but also achieved notable milestones in application volume and demand from anchor investors. The IPO was fully subscribed within 100 minutes of opening, receiving nearly 1.4 crore applications.