Reliance Jio IPO listing on Oct 28: Will Mukesh Ambani's firm be in top 5 m-cap? RIL to hold top spot
As Jio Platforms Initial Public Offering (IPO) closed with bumper subscription, investors are now eagerly awaiting the share allotment results ahead of its scheduled listing next week.
Backed by Mukesh Ambani’s Reliance Industries Limited (RIL), the IPO generated huge buzz during its subscription period. But where could the telecom giant be bound to stand post listing in terms of market capitalisation? Let’s find out.
Jio IPO listing countdown begins! Where would it stand in terms of market capitalisation
Based on the IPO’s upper price band and post-issue share count, Jio Platforms is estimated to hold post issue market capitalisation of ₹10.30 lakh crore. With this, Jio can comfortably stand in the list of top five companies in terms of market capitalisation on BSE. Investors must note that market capitalisation of companies fluctuate, and Jio Platforms’ actual ranking would depend on listing price and other stocks’ price.
As per BSE data (as on October 23), Reliance Industries Limited (RIL) has a market capitalisation of ₹16.10 lakh crore, Bharti Airtel has an Mcap of ₹11.79 lakh crore, HDFC Bank has an Mcap of ₹10.67 lakh crore, ICICI Bank’s Mcap stood at ₹10 lakh crore, TCS’s MCap stood at ₹9 lakh crore.
Reliance Industries Limited Group to hold top spot
Post Jio IPO listing, Reliance Industries Group will also become India’s largest listed business group by aggregate listed MCap.
Jio IPO subscription status on day 3, other details
Jio IPO was subscribed 22.19 x on the final day of its subscription. The total subscription consisted of 70.55 times subscription in the qualified institutional buyers (QIB) category, 14x subscription in non institutional investors (NII) category, 2.72x subscription in the retail investors segment, 2.93 x bidding in employee reserved quota, and 7.60x subscription in the reservation portion shareholder.
The issue opened for subscription on Wednesday, October 21 and concluded on Friday, October 23. Its allotment is likely to be finalised on Monday, October 26. The issue is likely to be listed on NSE and BSE on October 28. India’s largest IPO created history on the first day of its subscription after it was fully subscribed within 100 minutes of the opening of the issue.