Jio Platforms’ mega Rs 30,200 crore initial public offering (IPO) is already commanding a Rs 220 premium in the grey market, signalling an indicative gain of nearly 20% over the upper end of its price band even before the issue opens. The strong pre-listing sentiment comes as brokerages recommend subscribing to India’s largest-ever offering, citing Jio’s market leadership, pricing power and multiple growth levers.
The IPO is priced at Rs 1,065 - Rs 1,119 a share and is scheduled to open on Oct. 21 and close on Oct. 23. At the upper price band, the grey market premium of Rs 220 implies an indicative listing price of about Rs 1,339.
