Jio IPO opens with 22% GMP: Check brokerage views, allotment chances and other details
The Rs 30,213 crore IPO, priced between Rs 1,065 and Rs 1,119 per share, will remain open until October 23. At the upper end of the price band, Jio Platforms is seeking a valuation of Rs 10.3 lakh crore, making it one of India's most valuable companies.
Mukesh Ambani's telecommunications company, Jio Platforms, launched its initial public offering (IPO) on October 20 with a grey market premium (GMP) of about 22%. This indicates a strong demand for the shares ahead of the company's largest-ever public offering. Brokerages have expressed positive views on the IPO, citing Jio's dominant position in India's telecom market, improving profitability, and the growth opportunities in broadband and artificial intelligence sectors.
The IPO, priced between Rs 1,065 and Rs 1,119 per share, seeks a valuation of Rs 10.3 lakh crore, positioning Jio Platforms among India's most valuable companies.
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