Stories
Jio Platforms IPO: GMP surges up to 22% as anchor book opens
- •The grey market premium for Jio Platforms IPO has increased to Rs 251 per share, indicating potential listing gains of up to 22.43 percent.
- •The public issue will open for subscription on October 21 and close on October 23, with anchor investor bidding starting on October 19.
- •The price band for the IPO is set between Rs 1,065 and Rs 1,119 per share, aiming to raise Rs 30,213 crore at the upper band.
- •Global and domestic institutional investors including GIC Pte, Abu Dhabi Investment Authority, and SBI Mutual Fund have shown strong interest in the anchor book.
Key Questions Answered
The Jio Platforms IPO features a price band of Rs 1,065 to Rs 1,119 per share and a fresh issue of 27 crore shares, aiming to raise Rs 30,213 crore. Anchor investor bidding opens on October 19, with the public subscription running from October 21 to October 23.
As of October 19, the grey market premium stands at Rs 251 per share, indicating a potential listing gain of about 22.43% over the upper price band. This points to an estimated listing price of Rs 1,370 per share, though grey market figures are unofficial and non-guaranteed.
The anchor book received a massive response, drawing roughly Rs 2.5 lakh crore in bids against an 8,110 crore issue size, reflecting about 30 times demand. Major global entities like BlackRock and GIC alongside domestic giants like SBI Mutual Fund participated.
