The initial public offering for Jio Platforms, backed by Mukesh Ambani’s Reliance Industries Limited, is scheduled to open for subscription on Wednesday, October 21. The ₹30,213-crore offering will remain available to investors until Friday, October 23.
Ahead of the launch, the company has attracted attention in the unofficial market, where shares have commanded a premium. This public offering is poised to rank among India's largest, surpassing the ₹27,800-crore IPO completed by Hyundai Motor India Limited in October 2024.
According to data from Investorgain, the grey market premium stood between ₹148 and ₹250. Utilizing the upper price band of ₹1,119 and a grey market premium of ₹248, the estimated listing price is calculated at ₹1,368 per share, suggesting potential listing gains of approximately 22.16%.
Jio Platforms has established a price band ranging from ₹1,065 to ₹1,119 per share, with a face value of ₹10 per share. The firm intends to raise ₹30,213 crore through a fresh issue of 27 crore shares, representing roughly 2.93% of the post-issue equity capital.
Retail investors may apply for the public issue in lots of 12 shares. At the upper price band, a single lot requires an investment of ₹13,428.
The subscription period runs from October 21 to October 23. Share allotment is anticipated to be finalized on October 26, with a listing on the National Stock Exchange and the Bombay Stock Exchange expected on October 28.