Jio IPO GMP today: All eyes on telecom major’s mega listing this week. What is grey market premium signalling?
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AgenciesStrong subscription and a double-digit grey market premium put Jio Platforms’ listing in focus.
Ahead of listing, the unlisted shares of Jio Platforms were trading at Rs 1,366 apiece in the unofficial grey market. This marks a grey market premium (GMP) of Rs 247 per share or 22.07% over the upper end of the price band of Rs 1,119 apiece.
Also read | Jio IPO ends with over 22X oversubscription; QIB portion booked 70 times
Assuming a lot size of 12 shares, this would translate into an indicative gain of Rs 2,964 per lot. However, it is important to note that the grey market is an unofficial platform, and the GMP does not guarantee listing-day performance. Premiums can fluctuate before listing, while the actual share price will depend on demand and supply on the stock exchanges.
Jio IPO listing date: When will shares list on NSE, BSE?
Shares of Jio Platforms will make their much-awaited market debut on October 28 (Wednesday). Prior to that, the share allotments for the IPO will likely be finalised by October 26 (Monday), and the refunds for the unallotted shares will be initiated by October 27 (Tuesday).
Also read | Jio IPO breaks multiple records: From fundraising to investor demand, how the mega issue rewrote India’s IPO history
This comes after the Jio Platforms IPO saw strong investor interest during its three days of public bidding, being subscribed over 22 times its offer size, according to data from the National Stock Exchange (NSE).
Institutional investors led the demand, with the qualified institutional buyers (QIB) category was subscribed 70.55 times by the close of bidding. The non-institutional investor (NII) segment was subscribed 14 times, while the retail individual investor (RII) category received bids equivalent to 2.72 times the shares reserved for it.
The Rs 30,213-crore maiden public issue for the telecom giant broke several records, including the title of India’s largest-ever IPO by surpassing Hyundai Motor India’s Rs 27,870-crore offering in 2024. The issue set records across fundraising, anchor investor demand and applications, while attracting the highest qualified institutional buyer (QIB) subscription among India’s five largest IPOs. It was fully subscribed within 100 minutes of opening and received nearly 1.4 crore applications, according to figures compiled for the issue.
Also read | Can Jio IPO unlock hidden value in Reliance Industries shares?