Reliance Jio Platforms IPO draws massive demand and heads for stock market debut

Reliance Jio Platforms closed its initial public offering on Friday after drawing huge overall demand of 22.19 times by the final day of bidding. Qualified institutional buyers led the charge with a massive 70.55 times subscription rate. Non-institutional investors subscribed 14 times, while the retail segment saw 2.72 times bidding. The employee reserved quota received 2.93 times bids, and the shareholder reservation portion was subscribed 7.60 times.

Listing and GMP

The issue was offered in a price band of ₹1,065 to ₹1,119 per share, with a lot size of 12 shares. Retail investors needed a minimum investment of ₹13,428. The public issue also reserved up to 4,694,836 shares for employees at a discount of ₹54. Media reports on Saturday evening noted the grey market premium at ₹248 per equity share. Based on the upper price band, the estimated listing price stands at ₹1,367 per share, pointing to a potential gain of 22.16 percent.

Schedule

The shares are scheduled to list on the National Stock Exchange and the Bombay Stock Exchange on October 28, 2026. Trading will officially begin at 10 am. The morning schedule starts with a special pre-open session from 9 am to 9:45 am for order entry and modifications, followed by order matching and price discovery until 9:55 am, and a five-minute transition period before the opening bell.

Context

Initial public offerings allow private companies to raise capital by issuing shares to the public and listing them on recognized stock exchanges. The grey market premium is an unofficial indicator tracked by market participants to gauge potential listing gains before shares officially start trading.