Jio Platforms' IPO sees strong demand and grey-market premium of Rs 247 per share
Grey-market trading priced Jio Platforms shares at Rs 1,366 each, creating a premium of Rs 247 (about 22%) over the upper limit of the IPO price band.
Ahead of its debut, Jio Platforms' unlisted shares traded in the grey market at Rs 1,366 per share, implying a premium of Rs 247, or roughly 22%, above the top of the Rs 1,119 price band. The public offering was subscribed more than 22 times overall, with qualified institutional buyers (QIBs) showing the strongest appetite at a 70.55-times subscription. Non-institutional investors and retail participants also displayed robust demand, at 14-times and 2.72-times the respective allocations.
Valued at Rs 30,213 crore, the issue became India's largest IPO, surpassing Hyundai Motor India's earlier record. The offering was fully taken up within 100 minutes and attracted about 1.4 crore applications. For a standard lot of 12 shares, the grey-market premium suggests a potential profit of Rs 2,964 per lot, though actual listing prices will depend on market dynamics.
Why it matters
The IPO's scale and investor enthusiasm signal strong confidence in India's telecom sector and could reshape market valuations.
How this story developed
- Oct 18 Jio Platforms’ anchor book oversubscribed 30-plus times, drawing ₹2.5 trn in bids
- Oct 21 The overall subscription rate was reported at 1.01 times, with qualified institutional buyers bidding 3.25 times their quota.
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