Jio Platforms IPO allotment finalizes today with strong demand and high grey market premium

The share allotment for the Jio Platforms initial public offering will be finalized on Monday, 26 October, following massive investor interest. The public issue received bids for 22.19 times the shares on offer, with total demand across the public issue and anchor placement crossing ₹ 7.4 lakh crore. The offering attracted nearly 1.39 crore applications in total. The public issue alone brought in bids worth more than ₹ 4.9 lakh crore, while retail investor demand crossed ₹ 25,867 crore.

Allotment And Listing

Investors can check their share status through the official registrar portal of Kfin Technologies Ltd, or via the websites of the BSE and NSE. For those who did not receive shares, the refund process starts on Tuesday, 27 October. Investors who secured shares will see them credited to their demat accounts on the same day. The stock is scheduled to list on the stock exchanges on Wednesday, 28 October.

Grey Market Trends

The grey market premium stands at +247. Based on the upper end of the IPO price band of ₹ 1,119 and the current market premium, the estimated listing price is indicated at ₹ 1,366 per share, pointing to a potential listing gain of about 22.07%. Trading activity over the last 22 sessions shows the grey market premium has moved between ₹ 148 and ₹ 273.

Context

Initial public offerings allow private companies to raise funds from the public by issuing new shares. The grey market premium is an unofficial indicator of how a stock might perform when it officially starts trading on the stock exchanges.