Jio Platforms debuts on the stock exchange with a 21% increase, becoming the second-largest company in the country

The IPO of Jio Platforms, owned by Mukesh Ambani, is open to investors who can apply until October 23. On Wednesday, the opening day, the IPO received a very strong response from investors, making it the fastest-subscribed mega-IPO.

The qualified institutional buyer (QIB) category played the biggest role in this. The IPO was fully subscribed in just 100 minutes, at which point the QIB category had achieved more than triple subscription, and this figure continued to rise. By noon, at 3:30 PM, the category reached a subscription rate of 8.01 times.

Thanks to this rapid full subscription, the Jio Platforms IPO set a historical record and entered the list of the fastest-subscribed mega-IPOs launched in India to date. Previously, the largest IPO in India by issue price was Hyundai Motor India, with a volume of 27,870 crore rupees, but it yielded to Jio in terms of subscription metrics. Furthermore, the reaction to Mukesh Ambani's company IPO was significantly faster compared to the IPOs of Bajaj Housing Finance Limited and LG Electronics India Limited.

Regarding the first-day subscription, by approximately 3:30 PM, the QIB category was subscribed 8.01 times, while the NII category received a 1.41-fold subscription. The retail investor category showed a rate of 0.64 times. Employee quotas were also subscribed at 1.21 times, and shareholder quotas at 1.23 times.

The Jio Platforms IPO attracted funds amounting to 30,213 crore rupees in the primary market. The price band was set at 1065–1119 rupees, and the lot size is 12 shares. This offering does not include an Offer for Sale; instead, 270 million new shares are issued to investors.

The company plans to use up to 27,500 crore rupees of the raised funds to repay or prepay debts of its telecommunications subsidiary, Reliance Jio Infocomm. The remaining amount will be allocated to general corporate purposes.

The digital and telecommunications company Jio Platforms, owned by Mukesh Ambani's Reliance Industries, is preparing for its Initial Public Offering (IPO). This offering is set to be the largest in the country's history, with a size exceeding 30,000 crore rupees. All details have been published, and active discussions are underway among investors. Therefore, it is crucial for investors to know all the specifics, including the price band, lot size, and employee discounts.

When will the Jio IPO take place?

For investors awaiting the Jio Platforms IPO from Mukesh Ambani's company, the answer to the first question is that the IPO will open to anchor investors on October 19. For retail investors, it will be available starting October 21, and applications can be submitted for three days, until October 23.

What is the size and price band?

The company has announced the size of the offering and the price band. Through the Jio Platforms IPO, the company plans to raise 30,213 crore rupees in the primary market. According to the offering size, this will be the largest IPO in the country to date. As for the price band, it is set at 1065–1119 rupees per share.

Is the Jio IPO the largest offering in the country?

The size of the Jio Platforms IPO is 30,213 crore rupees at the upper end of the price band, which unequivocally makes it the largest IPO in the country's history. Previously, Hyundai Motor India (27,870 crore rupees), NSE IPO (22,569 crore rupees), LIC IPO (20,557 crore rupees), and Paytm IPO (18,300 crore rupees) were listed on the stock market.

How many shares will the company issue?

Reviewing the details of the Jio Platforms IPO shows that within this offering, Mukesh Ambani's company will issue only 270 million new shares to investors. The face value of these shares is 10 rupees. The Jio IPO is a book-built issue.

How much money must investors invest?

Now, the most important question is how much money investors must invest in the Jio IPO. The company has set the lot size for retail investors at 12 shares. This means an investor must apply for at least this number of shares. Calculating based on the upper end of the price band, one lot will cost the investor 13,428 rupees. Retail investors can apply for a maximum of 13 lots.

Is there a quota for Jio-Reliance employees and shareholders?

The Jio IPO includes a reserved quota for company employees, and participating in the offering grants them a significant discount. According to the DRHP, the company offers employees a discount of 54 rupees per share. Thus, while the upper limit for retail investors is 119 rupees, for employees, it will be 1065 rupees. Additionally, there is a reserved quota for Reliance Industries shareholders.

When will the listing happen on the stock market?

After the opening on October 21 and closing on October 23, the allotment of shares to applicants will take place on October 26, and the date for fund refund and share credit is set for October 27. The Jio IPO listing itself on BSE-NSE is scheduled for October 28.

What profit can this IPO bring?

Signals regarding potential profits from the Jio Platforms IPO show positive momentum even before its opening. On Thursday, during the stock market closing, the GMP for the Jio IPO was around 20 percent. Based on the Jio GMP, a return of 218 rupees per share is currently projected.

What is the quota for retail investors?

Within the Jio Platforms IPO, the company has allocated 50 percent of the quota for Qualified Institutional Buyers (QIB) and 15 percent for NII. As for the retail investor quota, it is set at 35 percent.

How long has Ambani's company been issuing an IPO?

This group's IPO after Reliance Industries by Mukesh Ambani comes after a long time. No company from the Reliance group has gone public for listing on the stock exchange since 2008.