Jio IPO debuts, delivering 21% gains to investors, becomes India’s largest listed telco

Jio Platforms shares made their debut on the BSE and NSE on 28 October at ₹1,358, up ₹239, or 21.36%, from the issue price of ₹1,119. The listing delivered a gain of ₹2,868 for investors holding one 12-share lot.

The company’s ₹30,213 crore IPO was entirely a fresh issue of 27 crore shares. Its price band was ₹1,065–₹1,119, with the final issue price set at the top end. At that price, the minimum investment for a 12-share lot was ₹13,428.

The offer opened on 21 October and closed on 23 October. It attracted more than 1.38 crore applications and bids worth ₹4.9 lakh crore, rising to ₹7.5 lakh crore when the anchor book was included. The QIB portion was reportedly subscribed 67 times, the NII portion about 14 times and the retail portion 2.76 times. The issue was reported as fully subscribed within 100 minutes, with the QIB quota reaching full subscription in 10 minutes.

The grey-market premium was reported at ₹245 a share on the morning of 28 October, or about 21.89% above the issue price. The listing broadly matched that indication.

Share allotment took place on 26 October, with shares credited to successful applicants’ demat accounts on 27 October. Refunds for unsuccessful applicants were also initiated on 27 October.

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Pavan Bandari

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I am content writer with six years of experience in entertainment and politics besides other modules as well.