Jio Platforms IPO concluded the second day (October 22) of bidding on a high note with 5.25 times subscription, receiving bids for 1,03,72,80,192 shares as compared to 19,75,25,934 total offered shares. Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) categories led the subscription drive on the second day as well. Meanwhile, the Jio IPO GMP declined a bit in the evening.
Jio IPO Day 2 Subscription Status
According to NSE data, India's biggest initial share sale was subscribed 5.25 times till 5:30 PM.
- Overall Subscription- 5.25 times
- Qualified Institutional Buyers Category- 12.45 times
- Non-Institutional Investors quota- 5.59 times
- Retail Individual Investors segment- 1.50 times
- Shares reserved for employees- 2.04 times
- Shareholders quota - 3.88 times
Jio IPO GMP Today
Jio Platforms IPO GMP was Rs 243, last updated at 05:02 PM on Investorgain, a grey market tracking platform. The current Jio GMP suggest a potential listing of shares at Rs 1,362, up 21.72 per cent from the upper price band of Rs 1119.
Earlier in the morning, Jio's IPO GMP was recorded at 22 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.
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 |