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The Economic Times
The Economic Times
Business
Veer Sharma

Jio IPO’s GMP rises to 22% as India’s largest ever issue set to open on October 21. Should you subscribe?

Jio IPO Mutual Funds Jio Platforms India Emkay Abu Dhabi Investment Authority BlackRock Fidelity HDFC Mutual Fund

Jio Platforms’ Rs 30,200 crore initial public offering (IPO) is attracting a grey market premium of Rs 245, implying a potential listing gain of 22% over the upper end of its price band. Strong demand ahead of the issue is accompanied by subscription recommendations from brokerages, which cite the company’s market leadership, pricing power and multiple avenues for growth.

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.

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