Jio Platforms IPO: Is RIL’s telecom arm set for listing gains? Check subscription, GMP

Most people open the Jio app many times a day. This week, millions are also wondering whether they should own a piece of the company behind it.

The Jio Platforms IPO, the biggest public issue India has seen, is in its second day of bidding, with investors tracking subscription figures, the grey market premium and the expected listing price. Jio Platforms’ Rs 30,213-crore public issue has attracted bids across investor categories, with the issue fully subscribed within the first 100 minutes of bidding on Day 1.

With bidding continuing until October 23, investors may want to check how demand is building across retail and institutional categories. Here is a look at the latest subscription figures, the grey market premium (GMP), the price band, minimum investment and other important details of the Jio Platforms IPO.

The Jio IPO was subscribed over 4 times so far on the second day of bidding, according to the latest figures provided.

The qualified institutional buyers (QIB) category saw subscription of 9.69 times so far its allotted quota, indicating strong demand from institutional investors.

The non-institutional investors (NII) category was subscribed 3.85 times, while the retail investor portion received bids for 1.30 times the shares reserved for it.

Bidding for the issue remains open. Investors can follow the subscription figures during the day as applications continue to come in.

Investors can check the latest subscription figures on the National Stock Exchange (NSE) and BSE websites by visiting their public issue or IPO sections and searching for Jio Platforms.

Apart from this, financial websites such as Chittorgarh and IPO Watch also track overall and category-wise subscription data.

It is important to check the time attached to the figures, as subscription levels can change throughout the bidding period.

In the unofficial market, the grey market premium (GMP) for Jio Platforms stood at Rs 246 per share, or 21.98%. At the upper end of the IPO price band of Rs 1,119, this translates into an indicative listing price of Rs 1,365 per share.

However, the grey market is unofficial. Its premium can change before listing and does not guarantee the price at which the stock will begin trading on the exchanges.

Jio Platforms has fixed its IPO price band at Rs 1,065-1,119 per share. The minimum application size is 12 shares, putting the minimum investment at Rs 13,428 for retail investors applying at the upper price band.

The issue also reserves up to 46,94,836 shares for eligible employees, with a discount of Rs 54 per share to the issue price.

Kotak Mahindra Capital Company is the book-running lead manager for the issue, while KFin Technologies is the registrar.

The allotment is expected to be finalised on October 26. The shares are scheduled to list on the NSE and BSE on October 28.

Investors should check the final subscription figures, allotment updates and official exchange announcements as the process moves forward. While the grey market premium may offer an indication of sentiment, it should not be treated as a guaranteed listing return.

Disclaimer: This article provides factual analysis only and is not, and should not be construed as, an offer, solicitation, or recommendation to buy or sell securities. Investors must conduct their own independent due diligence and seek advice from a SEBI-registered financial advisor.