Jio Platforms’ Rs 30,200 crore initial public offering (IPO) is attracting a grey market premium of Rs 221, implying a potential listing gain of nearly 20% over the upper end of its price band. The strong demand ahead of the issue has also been 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 1,340 per share.
