Jio IPO opened for subscription on Wednesday, October 21. The IPO will close for subscription on Friday, October 23. Its allotment will be finalised on Monday, October 26. Here are all the details about Jio IPO subscription and listing day expectations.
Jio IPO’s grey market premium (GMP) stood at ₹250 per share, at 11:37 am on Wednesday, October 21. Considering its upper price band was fixed at ₹1,119, the IPO is estimated to be listed at ₹1369 per share (sum of IPO GMP and upper price band). It indicates an expected listing gain of 22.34%.
Jio IPO’s strong subscription response has set the stage for its upcoming listing, while also drawing attention to its long-term growth prospects.
“The quick success of the initial public offering of Jio Platforms is an indication of the strength of institutional faith in the company's market presence, its solid telecom operations and its digital growth story,” explained Siddharth Maurya, Founder & Managing Director, Vibhavangal Anukulakara Pvt. Ltd, while highlighting that strong subscription does not ensure successful listing of the company.
The expert also highlighted that Jio’s growth story is well-supported by its large customer base and profitability.