For retail investors who applied for the Jio Platforms IPO, the overwhelming demand the issue attracted last week has heightened interest in the share allotment process. The record-breaking response has left applicants keenly awaiting confirmation on whether they will receive shares.
The allotment for the country’s biggest-ever IPO is likely to be finalised today, October 26, while the stock is expected to list on the exchanges on Wednesday, October 28.
Retail investors who receive an allotment of one lot could see their investment generate a potential gain of over 22% on listing day, based on the current grey market premium (GMP). Jio Platforms’ GMP stood at ₹250 per share on Monday, according to the latest available data.
Considering the upper end of the IPO price band at ₹1,119 per share, the stock is projected to list at around ₹1,369, implying a potential premium of 22.34%.
An investor who applied for one lot of 12 shares at ₹1,119 per share would have invested ₹13,428.