- Jio Platforms IPO was 3.48 times subscribed by Day 2.
- All investor categories, including retail, are fully subscribed.
- Strong GMP indicates a potential 22% listing gain.
Jio Platforms IPO entered the second day, October 22, after setting a historic record of getting fully subscribed within the first 100 minutes of opening on Day 1, the fastest among other recent mega IPOs. According to NSE data, shares allotted for all investor categories are now fully subscribed after the retail portion achieved 100 per cent bidding against total issued shares on Thursday.
Last seen, the overall subscription stood at 3.48 times. Meanwhile, the GMP for the mega IPO remained in the range of 22-24 per cent for the second day as well.
Jio Platforms IPO Subscription Status
The first day was dominated by qualified institutional buyers (QIBs) as they subscribed their quota in the first 30 minutes of opening, playing a key role in setting a record for the fastest oversubscription. The QIB category was subscribed over 7 times on day 1. Non-Institutional Investors quota also got decent bids on day 1. However, the retail category remained undersubscribed, only getting fully subscribed on day 2.
Day 2- Subscriptions Data
- Overall Subscription- 3.48 times (till 11:03 AM, as per NSE)
- Qualified Institutional Buyers (QIBs) - 9.42 times
- Non-Institutional Investors- 2.37 times
- Retail Individual Investors - 1.01 times
- Employees - 1.62 times
- Shareholders - 2.09 times
Jio IPO GMP Today
Jio Platforms IPO GMP on October 22 was Rs 247-- last updated at 10:37 AM on Investorgain, a grey market tracker. With this, Jio shares are showing a potential listing gain of 22.07 per cent to Rs 1,366, up from the upper price band of Rs 1119.
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Earlier, on Wednesday, the GMP was at 24 per cent.
The grey market premium, or GMP, is an indication of what price investors are willing to pay for unlisted shares in the unofficial market. It does not guarantee an exact listing gain or loss.
Also read: Fully Subscribed In Just 100 Minutes: 4 Major Records Jio's Historic IPO Set On Day 1
Jio Platforms IPO Details
Jio Platforms' initial public offering (IPO) opened for public subscription on Wednesday, October 21. Reliance Industries' digital and telecom arm aims to raise approx. Rs 30,213 crore at the upper limit of the price band, making it India's largest-ever share sale. The price band for the share sale was fixed at Rs 1,065 to Rs 1,119 per share.
Earlier, on Monday, October 19, Jio Platforms allotted shares worth Rs 8,109.85 crore to 212 anchor investors at the top end of its price band. Institutional demand exceeded Rs 2.5 lakh crore, more than 30 times the amount available in the anchor book.
The issue offers 27 crore fresh equity shares with no offer-for-sale component. The bidding will remain open till October 23, Friday.
Key Dates And Details
Details / Event | Information |
|---|---|
Subscription Window | October 21 – October 23 |
Price Band | Rs 1,065 to Rs 1,119 per share |
Issue Type & Size | Fresh issue of up to 27 crore equity shares (Rs 10 face value each) |
Anchor Investor Bidding | Monday, October 19 |
Expected Listing Date | October 28 |
Lot Size & Minimum Investment | 12 shares (multiples of 12 thereafter); minimum investment of Rs 13,428 |
Employee Discount | Rs 54 per share |