Jio Platforms IPO GMP Soars 22%: Check Expected Listing Price, Potential Returns

The week between October 19-october 23 is going to be a historic week in the history of India's equity market, as Jio Platforms IPO (initial public offering), which is the biggest-ever initial share sale, is all set to open for public subscription on October 21, Wednesday. Earlier, the digital and telecom arm of Reliance Industries announced a price band of Rs 1,065 to Rs 1,119 per share.   

Meanwhile, the grey market premium of Jio Platforms IPO stood at Rs 253--last updated at around 12:02 PM on Monday. The GMP shows an expected listing at Rs 1,372 per share, reflecting a potential premium of 22.61 per cent on debut against the upper price band of Rs 1119.00. 

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.

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Biggest IPO In India's History  

Jio Platforms Ltd, the digital and telecom arm of Reliance Industries, will raise approx. Rs 30,213 crore at the upper limit of the price band, making it India's largest-ever share sale. 

The issue is an offering of 27 crore fresh equity shares with no offer for sale component. This means all proceeds would go to the company instead of promoters or other stakeholders, making it different from other big IPOs of Hyundai Motors India, LIC and the recently listed NSE.  

Hyundai India’s Rs 27,858.75 crore IPO was a 100 per cent Offer for Sale of 14.22 crore shares by South Korea-based promoter Hyundai Motor Co.  LIC’s share sale was an offer for sale worth 20,557 crore by the Government of India, and NSE’s  Rs 22,562.71 crore IPO was an entire OFS from existing stakeholders. 

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Jio Platforms IPO Key Dates And Details

• The IPO will remain open for subscription between October 21 and October 23. 
• The price band has been set at  Rs 1,065 to Rs 1,119 per share. 
• It is entirely a fresh issue of up to 27 crore equity shares of Rs 10 face value each. 
• Bids for anchor investors will be on Monday, October 19
• Jio Platforms IPO is expected to be listed on October 28.
• The lot size should be 12 shares and in multiples of 12 thereafter, meaning a minimum investment of Rs 13,428 is needed to place a bid.
• Eligible employees will get a discount of Rs 54 per share.