live The IPO of the platforms opened on 21 October and closed on 23 October. Jio Platforms IPO received a strong response from investors. According to NSE data, this IPO received 22.19 times subscription. Let us tell you that Jio Platforms, a subsidiary of Reliance Industries, is going to raise Rs 30,213 crore from its IPO. 27 crore new shares will be issued in this IPO.
Jio Platforms’ IPO is completely based on new shares
The IPO of Jio Platforms is entirely based on new shares. 27 crore new shares will be issued in the IPO. There is no OFS part in this IPO. That is, the existing shareholders of the company did not sell any part of their stake in this IPO.
Shares will be allotted to investors at the price of Rs 1119
Jio Platforms, under its IPO, had fixed the price band of Rs 1065-1119 for each share with a face value of Rs 10. However, since the IPO has been fully subscribed, now shares will be allotted to investors at the price of Rs 1119. Jio has given a discount of Rs 54 on each share to its employees, so shares will be given to the employees at a price of Rs 1065.
The company will be listed on BSE and NSE on October 28.
The allotment of shares will be done on Monday, October 26 after the closing of the IPO. The very next day, on October 27, the shares will be credited to the demat accounts of the investors. Investors who will not be allotted shares will get the refund only on October 27 and finally on Wednesday, October 28, the company will be listed on the domestic stock exchanges BSE and NSE.
GMP price reached Rs 250
According to investorgain.com, a website that tracks GMP price of IPO, on October 24, Jio Platforms IPO shares are trading in the gray market with a GMP (grey market premium) price of Rs 250 (22.34 percent). Let us tell you that on October 20, Jio shares were trading with a GMP of Rs 273. However, there may still be a lot of fluctuations in it at the time of listing.
Disclaimer: This article has been written for information purposes only. Always consult your financial advisor before making any kind of investment or taking any financial risk. India TV will not be responsible for any kind of risk.
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SK Sharma is a content writer who writes on news, entertainment, and lifestyle topics. She has over four years of experience and is known for conveying information in simple and clear language.
