Jio Platforms IPO listing today: Check exact time of shares trading; expected debut stock price at NSE, BSE
Jio Platforms IPO listing today: The much-awaited Reliance's Jio Platforms IPO is all set to make its stock market debut on Wednesday, 28 October, bringing one of the year's biggest public issues into focus. The shares of the Jio Platforms IPO will be listed on the National Stock Exchange (NSE) and the BSE after successful allotment on Monday, 27 October.
The ₹30,213-crore public issue attracted strong investor interest during its subscription window from 21 October to 23 October.
Jio Platforms shares are scheduled to list on the NSE and BSE on Wednesday, 28 October at 10:00 am. Under the regular equity-market listing process, the stock is expected to undergo a special pre-open session before normal trading begins.
For a newly listed stock, the pre-open session helps determine the equilibrium opening price by matching buy and sell orders. The session generally runs from 9:00 am to 10:00 am, with the order-entry period followed by order matching and transition to regular trading. Normal equity-market trading typically begins at 10:00 am for a stock on its listing day.
Shares of the Jio Platforms IPO are trading at a significant premium in the grey market ahead of their stock market debut. According to IPO tracking websites, the issue's grey market premium (GMP) stood at ₹248 per share on 28 October, ahead of listing.
The IPO's GMP trend over the past 25 sessions has been volatile, fluctuating within a ₹125 range without establishing a clear upward or downward trend. The latest premium of ₹248 reflects changing grey market expectations ahead of the company's listing.
It is worth noting that GMP is based on unofficial market transactions ahead of a stock market debut and is not an exchange-recognised price. It can fluctuate depending on investor demand, market sentiment and broader market conditions. Therefore, the actual listing price may vary considerably from the GMP-based estimate.
The expected listing price of Jio Platforms shares will depend on the latest GMP and the IPO's final issue price.
At the latest reported GMP of ₹248, Jio Platforms shares could list at an indicative price of around ₹1,367 per share, implying a potential premium of 22.16% over the IPO price. This estimate is calculated by adding the GMP to the upper end of the IPO price band of ₹1,119 per share.
At the latest reported grey market premium (GMP) of ₹244 per share, investors allotted one lot of 12 shares could see an indicative gain of ₹2,976 if Jio Platforms shares list at ₹1,367 apiece.
The ₹30,213-crore Jio Platforms IPO was launched with a price band of ₹1,065– ₹1,119 per share and a minimum lot size of 12 shares. Retail investors had to invest ₹13,428 to apply for one lot at the upper end of the price band.
The public issue was subscribed 22.19 times overall. Qualified institutional buyers (QIBs) led the demand, with their portion subscribed 70.55 times, followed by the non-institutional investor (NII) category at 14 times. The retail individual investor segment received bids for 2.72 times the shares reserved for it.
The IPO comprised a fresh issue of 27 crore equity shares, with no offer-for-sale (OFS) component. Jio Platforms plans to use up to ₹27,500 crore of the proceeds to repay borrowings of its subsidiary, Reliance Jio Infocomm Ltd. The company also reserved up to 46,94,835 shares for eligible employees, who were offered a discount of ₹54 per share on the issue price.
Kotak Mahindra Capital Company Ltd. served as the book-running lead manager for the issue, while KFin Technologies Ltd. was appointed as the registrar.
Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.
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