Reliance Jio IPO RHP filing likely today; latest GMP jumps to ₹219 - check expected share price band, size, valuation
Jio Platforms IPO latest update: The Reliance Industries-backed Jio Platforms IPO RHP filing is likely today. The Reliance Jio is likely to file its Red Herring Prospectus (RHP) at the capital market regulator SEBI any time today, multiple media reports. The most awaited Reliance-backed Jio platforms IPO is touted to be the biggest-ever Indian IPO with size of around ₹30,000 crore. Jio Platforms IPO price band has already declared at ₹1,065 to ₹1,119 per equity share.
Touted as India's biggest IPO, the company aims to sell out 27 crore company shares, which is entirely fresh. This means the net proceed of the Jio Platforms IPO will go inot the balance sheet of the Reliance-backed Jio Platforms, which is an attractive offer for the primary market investors. The public issue is proposed for listing on the BSE and the NSE.
After the outbreak of RHP filing by the Reliance-backed company at SEBI, the grey market has gone highly bullish on the upcoming IPO. According to the market observers, shares of the company are available in the grey market a premium of ₹219. This means Jio Platforms IPO GMP today is ₹219, which is ₹10 higher from yesterday's GMP of ₹210, say market observers.
However, InvestorGain website is showing Jio Platforms IPO GMP today at ₹224.
So, the grey market is hinting at a listing gain of nearly 20%.
The Reliance-backed company has already declared the Jio Platforms IPO price band at ₹1,065 to ₹1,119 per equity share.
The company aims to sell out 27 crore company shares, which means the exat Jio platforms IPO size is ₹3,02,13,00,00,000 or ₹30,213 crore ( ₹1,119 x 27,00,00,000). The upcoming IPO is completely fresh in nature, which means the entire net proceeds will go into the balance sheet of Jio Platforms.
The company is valued at $106 billion, which falls around ₹10,000 crore in the Indian Rupee terms.
Out of the total shares offers, 50% is reserved for the QIB segment, 35% is reserved for the retail investors and the rest 15% is reserved for the NII segment. Reliance Industries shareholders will be able to apply in both retail and shareholder quota.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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HomeMarketsIPOReliance Jio IPO RHP filing likely today; latest GMP jumps to ₹219 - check expected share price band, size, valuation
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