Jio IPO opens with 22% GMP: Check brokerage views, allotment chances and other details
Mukesh Ambani’s Jio Platforms IPO opens for public subscription on today with shares commanding a grey market premium (GMP) of around 22%, indicating strong investor interest ahead of India’s largest-ever public offering. Brokerages are positive on the issue, citing the company’s dominant telecom position, improving profitability and growth opportunities in broadband and artificial intelligence.
The Rs 30,213 crore IPO, priced between Rs 1,065 and Rs 1,119 per share, will remain open until October 23. At the upper end of the price band, Jio Platforms is seeking a valuation of Rs 10.3 lakh crore, making it one of India’s most valuable companies.
