Jio Platforms' Rs 30,213 crore initial public offering (IPO) was fully subscribed within the first hour of bidding on the back of massive interest from Qualified Institutional Buyers (QIBs). According to NSE data, the Reliance Industries Telecom arm's initial share sale was subscribed 1.36 times till 11: 24 AM. Meanwhile, Jio IPO GMP inched up as well, reaching to 24 per cent above the upper end of the IPO price band.
Jio IPO Day 1 Subscription Status
India's biggest-ever initial share sale was fully subscribed in the first hour after it opened for subscription at 10:00 AM. According to NSE data, the IPO was subscribed 1.26 times till 11:24 AM.
- Overall subscription: 1.26 times 126 per cent
- Qualified Institutional Buyers quota was oversubscribed (3.86 times)
- Non-Institutional Investors Category was subscribed 0.41 times
- Retail Individual Investor quota got 0.33 times bids
- Employees section was subscribed 0.76 times
- Existing Reliance Industries quota was subscribed 0.61 times
Expect from the QIBs, shares reserved for other investors are still to be fully subscribed.
Jio IPO's Opens Today
Jio Platforms IPO GMP
Jio Platforms IPO GMP moved up as the share sale opened for public subscription. According to Investorgain, a grey market tracker, the Grey Market Premium (GMP) of Jio Platforms was Rs 273-- last updated at 10:02 AM. With this, Jio shares are showing a potential listing gain of 24.40 per cent to Rs 1,392, up from the upper price band of Rs 1119.
Earlier, on Tuesday, the GMP fell to 21 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
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 |