Mumbai: Jio Platforms’ initial public offering (IPO) entered its second day of bidding on Thursday after receiving 3.04 times subscriptions on the opening day, according to media reports.
The Rs 30,213-crore issue received strong demand from institutional investors, while retail participation remained subdued. The qualified institutional buyers’ (QIB) category was subscribed 9.04 times, excluding anchor investors, while the non-institutional investor segment received 1.61 times bids. The retail portion was subscribed 0.73 times on October 21.
GMP indicates potential listing gains
The grey market premium (GMP) stood at Rs 246 as of 7.37 am on October 22, according to media reports. Against the upper price band of Rs 1,119, this indicates an estimated listing price of Rs 1,365, representing a potential gain of around 22%.
However, the grey market is unofficial, and the premium does not guarantee listing gains.
The IPO opened on October 21 and will close on October 23, with a price band of Rs 1,065 to Rs 1,119 per share.
Brokerages, including Motilal Oswal Wealth Management, Geojit Investments and Religare Broking, have highlighted Jio’s growth prospects, subscriber base and opportunities in 5G, broadband, artificial intelligence and enterprise services.
The company’s revenue from operations rose from Rs 1,09,558 crore in FY24 to Rs 1,46,885 crore in FY26, while profit after tax increased to Rs 30,049 crore.
Disclaimer: This report is for informational purposes only and does not constitute investment advice. GMP is speculative, and actual listing prices may differ. Investors should assess their risk appetite, conduct independent research and consult a qualified financial adviser before investing.
