Jio IPO allotment likely today: GMP indicates 22% listing gain for investors

The allotment status for Jio Platforms’ ₹30,213-crore initial public offering (IPO) is expected to be finalised today, after the country’s largest-ever issue garnered an overwhelming response from investors. The grey market premium (GMP) also remains elevated, signalling a potential listing gain of around 22% over the issue price.

The Jio IPO, which was open for bidding from October 21 to 23, was subscribed 22.19 times, with investors bidding for 438.26 crore shares against 19.75 crore shares on offer, according to BSE data. At the upper end of the price band of ₹1,119 per share, bids during the three-day public subscription period were worth around ₹4.90 lakh crore.

The issue attracted 1.38 crore applications, making it the first IPO not only in India but also in the world to cross the one-crore mark. Combined bids were estimated at around ₹7.4 lakh crore, including nearly ₹2.5 lakh crore in demand from anchor investors.

The grey market premium for Jio Platforms stood at ₹254 on October 23. At the upper end of the price band, this implied an estimated listing price of ₹1,373 per share, representing a potential gain of 22.70% over the issue price.

The GMP is an unofficial indicator of sentiment in the unlisted market and does not guarantee the listing price or actual investor returns. It can fluctuate before the shares begin trading.

The shares of Jio Platforms, a subsidiary of Reliance Industries, are set to make their debut on the BSE and NSE on October 28. Ahead of the listing, shares are likely to be allotted to eligible applicants today. Investors can check their allotment status through the BSE, NSE or KFin Technologies websites, the registrar to the issue.

How to check Jio Platforms IPO allotment status

• Visit the BSE IPO allotment status page, or the relevant IPO pages on the NSE or KFin Technologies websites.

• Select Jio Platforms from the list of issues.

• Follow the instructions for checking the IPO application.

• Enter the required application or PAN details and submit them to view the status.

• Investors should use the official portals to confirm their allotment rather than relying on unofficial messages or screenshots.

What happens after the allotment?

Investors who receive shares are expected to see them credited to their demat accounts on October 27, ahead of the scheduled listing on October 28. Those who do not receive an allotment can expect the refund or release of blocked funds to be initiated on October 27, subject to the applicable process.

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