Reliance Jio IPO GMP today: The countdown to India’s largest initial public offering (IPO) has begun. Jio Platforms IPO, backed by billionaire Mukesh Ambani’s Reliance Industries Limited, is garnering heightened investors’ interest ahead of the opening of its subscription period. Jio IPO’s latest grey market premium (GMP) hints at 19.75% listing gains.
Jio Platforms is offering 27 crore new equity shares in the price band of between ₹1,065 and ₹1,119 per share to investors. Which makes the Jio IPO a ₹30,213 crore issuance at the upper end of the price band. As all eyes are now on India’s biggest ever IPO, let’s understand whether the Jio IPO will be more than a listing day jackpot and long-term bet for investors.
Jio Platforms latest IPO GMP was recorded at ₹221 at 2:02 pm on Saturday, October 17, as per media reports. With an upper price band of ₹1,119 per share, the estimated listing price for the Jio Platforms IPO is ₹1,340 (which is the sum of the upper price band and latest IPO GMP today). Considering the grey market premium of Jio Platforms IPO, the issue is likely to see 19.75% listing gain.
Investors must note that the grey market premium indicates demand for an issue in the unregulated market and is not an accurate representation of an IPO's listing day performance.
The IPO is a book-build issue of ₹30,213 crores and an entirely fresh issue of 27 crore shares of ₹30,213 crore. The IPO has fixed issue price band at ₹1,065 to ₹1,119 per share. The lot size for an application is 12 shares. The minimum amount a retail investor can put in Jio IPO is ₹13,428 for 12 shares.