Shares of Jio Platforms will start trading on the BSE and NSE on Wednesday, October 28, after India's biggest IPO drew bids worth 22 times the shares on offer, The Economic Times reported.
The IPO at a glance
- Size: about ₹30,200 crore, all fresh shares (27 crore shares), with no sale by existing shareholders.
- Price: ₹1,119 a share, the top of the ₹1,065–1,119 band, valuing the company at about ₹10.3 lakh crore.
- Demand: 22.19 times overall. Institutions bid 70.55 times their quota, non-institutional investors 14 times and retail investors 2.72 times.
- Anchor investors: ₹8,110 crore raised on October 19, from investors including LIC, BlackRock and Fidelity.
- Use of money: up to ₹27,500 crore to repay debt of its subsidiary, Reliance Jio Infocomm.
What the grey market says
Unlisted Jio shares were trading at a premium of about ₹246, or 22%, in the grey market, pointing to a listing price of about ₹1,365. The grey market is unofficial and does not guarantee the listing price.
What analysts advise
Fundamental analyst Ambareesh Baliga said institutional demand was "much more than what most of us would have expected", but given the issue's size he expects a smaller listing gain of 8-10%. He advised those who missed out not to chase the stock: "If the stock opens about 8-10% higher and starts correcting, that could be the time to buy."
Avinash Gorakshakar of Avinash Mentor Research Services also advised patience. "Better to buy once the price stabilises, as initially after listing the stock may move up swiftly but later on can see some profit booking," he said.
Jio's numbers
- Revenue from operations: ₹1.46 lakh crore in FY26, up from ₹1.28 lakh crore.
- Net profit: ₹30,049 crore, up from ₹26,109 crore.
- Average revenue per user: ₹215.6 in the June quarter, up from ₹181.7 in FY24.
- Customers: 533.3 million as of June 30, 2026.
This article is for information only and is not investment advice.