Reliance Jio IPO Set for October 28 Listing with ₹248 GMP

Reliance Jio Platforms is poised for a significant debut on the stock market, with its initial public offering (IPO) concluding on a high note. The IPO, backed by Mukesh Ambani's Reliance Industries Limited, saw an overwhelming response, achieving full subscription within just 100 minutes of opening for bidding. Investors are now eagerly anticipating the listing of this mega IPO, which is scheduled for October 28, 2026.

The IPO has made headlines not only for its record fundraising but also for the impressive demand from anchor investors. As of October 24, the grey market premium (GMP) for Reliance Jio's IPO stood at ₹248 per equity share. With the upper price band set at ₹1119 per share, analysts predict that the shares may debut at around ₹1367, reflecting a potential gain of 22.16% on listing day.

On the subscription front, the Jio IPO recorded a remarkable 22.19 times subscription on its third day. This includes a staggering 70.55 times subscription in the qualified institutional buyers (QIB) category, alongside 14 times in the non-institutional investors (NII) segment. Retail investors showed a healthy interest as well, with a subscription rate of 2.72 times, while the employee reserved quota saw a 2.93 times bidding.

The IPO price band was established between ₹1,065 and ₹1,119 per share, with a lot size of 12 shares. Retail investors are required to invest a minimum of ₹13,428 for this lot. Additionally, the IPO includes a reservation of approximately 46,94,836 shares for employees, offered at a discount of ₹54 per share, making it an attractive option for those within the company.

Looking ahead, the listing process will commence with a special pre-open session starting at 9 am, allowing for order entry and modifications. Following this, the actual listing on NSE and BSE is set for 10 am. Investors will be keenly watching the market's response to this high-profile IPO as it seeks to establish its position in the stock market landscape.