The debut of the country's largest IPO in history is fast approaching. Shares of Jio Platforms, owned by billionaire and Chairman of Reliance Industries Mukesh Ambani, will be listed on the stock exchange at 10 am shortly.
The Jio Platforms IPO received a strong response from investors, signaling potentially high returns for those who invested in the process.
The Jio Platforms IPO became the largest issuance in the history of Indian IPOs. The total volume of this offering was 30,213 crore rupees. Between October 21 and 23, the company issued 270 million new shares with a face value of 10 rupees, setting a price band between 1065–1119 rupees.
The Jio Platforms IPO attracted enormous investor interest from the outset. Prior to this, anchor investors placed bids totaling 250 billion rupees. The billionaire Mukesh Ambani's IPO was subscribed approximately 22 times. The highest demand was recorded in the QIB category, which saw a 67-fold subscription, while the retail category was filled 2.76 times.
The Jio Platforms IPO also began setting records since its opening. Notably, the total demand for Jio Platforms shares exceeded 700 billion rupees and was fully subscribed in just 100 minutes after the start. Now, following the listing, the company is preparing to set new records, as it could become the second largest company by market capitalization in the country after Reliance Industries.
This share offering, launched only with new shares, is scheduled to debut on the stock market on Wednesday at 10 am. Jio Platforms shares will be traded on both stock market indices: the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
It is possible to estimate the potential profit that the Jio Platforms IPO may bring to investors after the exchange listing, based on the Grey Market Premium (GMP). At the time of listing, the GMP for Jio Platforms stands at 22.10%, indicating a growth of 247 rupees per share. With an assumed listing price of 1366 rupees, an investor could receive about 3000 rupees for one lot, based on this estimated premium.