Jio IPO GMP today: Grey market signals over 22% listing gains; check allotment, listing date

The grey market continues to signal favourable trends for Jio Platforms ahead of its stock market debut, with unofficial market indicators pointing to potential listing gains of over 22% for investors allotted shares in the company’s Rs 30,213-crore initial public offering (IPO).

The issue, which closed for subscription on October 23, received an overwhelming response from investors, with the overall subscription reaching 22.19 times the shares on offer. The offering has also become India’s largest-ever IPO, surpassing Hyundai Motor India’s Rs 27,870-crore issue in 2024.

With the bidding process now complete, investor attention has shifted to the finalisation of the basis of allotment, the credit of shares into demat accounts and the company’s anticipated market debut on October 28.

Jio IPO GMP today

According to sources tracking unofficial market activity, Jio Platforms shares were quoted at a grey market premium (GMP) of Rs 250 per share over the upper end of the IPO price band of Rs 1,119. This translates into an indicative premium of 22.34%, taking the implied grey market price to Rs 1,369 per share.

At the prevailing premium, investors who secure an allotment could potentially see gains of Rs 250 per share. Assuming a lot size of 12 shares, this would translate into an indicative gain of Rs 3,000 per lot.

However, the grey market is unregulated, and the GMP does not guarantee listing-day performance. Premiums can fluctuate before listing, while the actual share price will depend on demand and supply on the stock exchanges.

Jio IPO subscription status

The Jio Platforms IPO attracted bids for 4,38,26,15,568 shares against 19,75,25,934 shares on offer, translating into an overall subscription of 22.19 times, according to data from the National Stock Exchange (NSE).

Institutional investors led the demand, with the qualified institutional buyers (QIB) category subscribed 70.55 times by the close of bidding. The non-institutional investor (NII) segment was subscribed 14 times, while the retail individual investor (RII) category received bids equivalent to 2.72 times the shares reserved for it.

Jio IPO Allotment Date: When will shares be credited?

The allotment of Jio Platforms shares is tentatively scheduled to be finalised on October 26. Successful applicants can expect their shares to be credited to their demat accounts by October 27, subject to the final issue schedule.

Investors will be able to check their allotment status through the official registrar and the BSE and NSE once the details are made available.

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Jio IPO listing date: Shares to debut on Oct 28

Jio Platforms shares are tentatively scheduled to list on the BSE and NSE on October 28. The market debut will be closely watched following the IPO’s record-breaking fundraising and strong subscription figures.

At the prevailing grey market premium, investors who receive an allotment could potentially see listing gains of Rs 250 per share, or Rs 3,000 per lot of 12 shares. The implied premium of 22.34%, however, remains an unofficial indicator rather than a confirmed return.

While the current GMP points to the possibility of listing gains exceeding 22%, investors should not treat the premium as a reliable forecast of the stock’s debut price. Grey market quotes can change rapidly, and actual listing performance will depend on market conditions and buying and selling interest on the exchanges.

Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here