Jio Platforms to List Shares After Rs 30,188-Crore IPO

Jio Platforms will list its shares on the National Stock Exchange and Bombay Stock Exchange on October 28 following a Rs 30,188-crore initial public offering. The IPO, which took place from October 21 to October 23, saw an overall subscription rate of 22.19 times, with qualified institutional buyers bidding 71 times their reserved allocation.

The company set the final issue price at Rs 1,119 per share for a fresh issue of 27 crore shares. If current grey-market premiums of 20-22% hold, Jio Platforms could become the second-most valuable company in India, trailing only its parent company, Reliance Industries Ltd.

Some market experts predict a more modest listing premium of 8-10% because of the size of the issue. Analysts suggest that short-term traders book partial profits upon listing, while long-term investors should hold based on the company's market dominance and proprietary technology stack.