Reliance Industries shareholders hoping to participate in the Rs 2,500 crore reserved portion of Jio Platforms' mega IPO had to buy RIL shares by October 13 even though the company fixed October 14 as the eligibility cut-off date. The difference comes down to India's stock market settlement rules, which require shares to be settled before investors can qualify for such benefits.
With Jio's IPO scheduled to open on October 21, investors who bought Reliance Industries shares on October 14 or later will miss the shareholder reservation. They can still apply for Jio shares through the regular IPO categories, but they will not be eligible for the separate quota reserved for existing RIL shareholders.
