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Jio Platforms IPO grey market premium rises to ₹160
The grey market premium was ₹145 and ₹120 in the prior two sessions, and Jio Platforms is expected to list on Oct. 21.
Jio Platforms Ltd, the digital services arm of Reliance Industries, saw its IPO grey market premium rise to ₹160, indicating stronger investor interest in the proposed share sale, according to LiveMint Markets. The GMP was higher than ₹145 and ₹120 traded in the last two sessions, though grey market pricing is unofficial and can change before the IPO opens.
LiveMint Markets said Jio Platforms received regulatory clearance in August and is aiming to raise about $3.8 billion. The company is expected to list on Oct. 21.
The report also said Jio Platforms has been holding investor meetings across the US, UK, Dubai, Hong Kong, and Singapore. It added that the planned IPO size would surpass Hyundai Motor India’s $2.9 billion listing in 2024.