Jio IPO’s GMP rises to 22% as India’s largest ever issue set to open on October 21. Should you subscribe?
The IPO is priced at Rs 1,065-1,119 per share and will open on October 21, closing on October 23. At the upper end of the price band, the grey market premium points to an indicative listing price of Rs 1,364 per share.
Jio Platforms’ Rs 30,200 crore initial public offering (IPO) is generating significant interest with a grey market premium of Rs 245, indicating a potential listing gain of 22% over the top end of its price range. Brokerages are recommending the IPO, citing Jio’s dominant market position, pricing power, and growth opportunities in various sectors. The company plans to use the raised funds to repay existing debts following an IPO priced between Rs 1,065-1,119 per share and set to open on October 21, closing on October 23.
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