On the second day of public bidding, Jio Platforms' initial public offering (IPO) continues to draw heavy investor demand.
As per the official website of the National Stock Exchange (NSE), Jio IPO has been subscribed 5.20 times overall, with Qualified Institutional Buyers bidding 12.32 times, Non Institutional Investors subscribing 5.52 times and l Individual Investors bidding 1.49 times.
When does Jio IPO subscription window close?
The official period for investors to opt to subscribe for Jio Platforms IPO was open from October 21 and will end on October 23. With an issue size of Rs 30,213 crore, the shares of Jio are proposed to be listed on the BSE and NSE.
For those who are interested in applying for the IPO, a minimum investment amount of ₹12,780 is required for a minimum lot of 12 shares. The price range is fixed at ₹1065-₹1119 per share.
Investors who have applied for the IPO will get a confirmation of their allotment status by October 26, with the listing expected to take place on October 28. If you are not allotted the shares, the amount that was blocked for the IPO will be transferred in due course.
What is the latest GMP?
The grey market premium (GMP) for Jio IPO, as per various market analysts, is around ₹243 per share, corresponding to an approximately 21-22 per cent listing gain for investors who are alloted the shares.
About Jio Platforms:
Jio Platforms is a technology company offering digital connectivity across the country. Its subsidiary, Reliance Jio Infocomm Limited, offers mobile connectivity, fixed broadband and digital services.
This IPO is a fresh issue of shares, which means the net proceeds will go to the company and are expected to be utilised for the prepayment, in full or in part, of certain outstanding borrowings availed by the material subsidiary, as per Groww.
