Jio Platforms' grey market premium has surged 84% in two weeks, signalling rising interest in the telecom and digital services company's upcoming initial public offering. The premium climbed to Rs 230 a share on October 16, from Rs 125 on October 3.
The latest grey market premium (GMP) represents a 20.6% premium over the IPO's upper price band of Rs 1,119 a share.
Interest is also building among institutional investors, with global funds including GIC Pte, Abu Dhabi Investment Authority and Qatar Investment Authority, as well as domestic fund houses such as SBI Mutual Fund, Motilal Oswal AMC and HDFC Mutual Fund, seeking allocations in the anchor book, according to sources.
Swastika Investmart said Jio's focus on structural industry health, pointing out that tariff
Jio Platforms, at the upper end of its IPO price band of Rs 1,119 per share, is valued at approximately Rs 10.3 lakh crore. Adding this to the existing market value of RIL and Jio Financial Services would take the Reliance group's aggregate listed market capitalisation to around Rs 28.3 lakh crore.