Jio Platforms opens ₹30,213 cr IPO as GMP suggests 22.25%
Business
Jio Platforms is rolling out its much-awaited IPO from October 21-23, aiming to raise a massive ₹30,213 crore.
If the gray market premium (GMP) is any hint, shares could list at around ₹1,368, about 22.25% higher than the issue price, when trading starts on October 28.
Jio IPO offers 27 cr shares
The IPO offers 27 crore fresh shares in a price band of ₹1,065-₹1,119 each.
Retail folks need to apply for at least one lot (12 shares), which comes to ₹13,428 minimum.
Allotment results drop by October 26.
If all goes well, this could even top Hyundai Motor India's IPO listing held in October 2024.