Jio Platforms IPO Listing | Jio Platforms is set to make its stock market debut on Wednesday, October 28, following its ₹30,213-crore initial public offering (IPO).
Investors are watching the opening share price and potential listing gains ahead of trading on the BSE and NSE.
The company fixed its IPO price at ₹1,119 per share. The issue attracted subscriptions of 22.19 times the shares on offer, reflecting strong demand across investor categories. Qualified institutional buyers subscribed to their allotted portion 70.55 times.
The listing ceremony is scheduled ahead of the market debut at 10 am. Investors are tracking the stock’s expected valuation and early trading performance as Mukesh Ambani’s telecommunications and digital services business enters the public markets.
Jio Platforms IPO Listing: Brokerage Targets and Grey Market Premium
Brokerages have issued positive recommendations ahead of the listing. Nomura initiated coverage with a Buy rating and a target price of ₹1,340 per share. Elara Capital also assigned a Buy rating, setting a target of ₹1,367. These are brokerage estimates, not guaranteed returns.
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Investors are also tracking the grey market premium (GMP), which has indicated a potential premium of around 22% over the IPO price. Based on the ₹1,119 issue price, that would suggest an indicative price of approximately ₹1,365.
However, the grey market is unofficial and unregulated. Its premium does not guarantee the price at which shares will trade after listing. The actual opening price will become clear once exchange trading begins.
The IPO attracted bids worth approximately $77 billion, making it one of India’s most closely watched public offerings. Jio Platforms serves more than 530 million customers and has backing from investors including Meta and Google’s parent company, Alphabet.
The listing is also significant for Reliance Industries, which owns Jio Platforms. Market participants will assess the company’s valuation, growth prospects and ability to monetise its digital services following the debut.
Although strong subscription figures and brokerage targets have raised expectations, the stock’s actual performance will depend on market demand and investor sentiment after trading opens.
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