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The grey market premium (GMP) of the proposed initial public offering of Jio Platforms Ltd, the digital services arm of Reliance Industries, has been moving higher in recent sessions, indicating strong investor interest in the issue. As of Monday, the GMP stood at ₹160, according to market sources. It was higher than the ₹145 and ₹120 traded in the last two sessions. It should be noted that grey market trends are unofficial and can change before the IPO opens. To be sure, grey market prices are unofficial and do not necessarily reflect the IPO’s final valuation, while the final price band is set by the merchant bankers after considering multiple factors. The higher GMP comes as Jio Platforms completes meetings with investors across the US, UK, Dubai, Hong Kong and Singapore. The issue is set to surpass Hyundai Motor India's $2.9 billion listing in 2024, while the National Stock Exchange of India made its market debut last month after a $2.3 billion IPO. The telecom major is set to launch its initial public offering (IPO) on October 21, seeking to raise about $3.8 billion in what is set to be India's biggest listing, Reuters reported, citing sources. Following the DRHP filing in June, Jio Platforms received a key regulatory clearance in August, when the Securities and Exchange Board of India (SEBI) issued its observation letter on the company's DRHP for the proposed IPO. The company plans to issue up to 27 crore fresh equity shares, representing about 2.9% of its post-issue paid-up equity capital. The issue price will be determined through the book-building process in accordance with SEBI regulations. The price band and other key details, including lot size and issue reservations, are yet to be announced. The shares are expected to be listed on both the NSE and BSE. The company is expected to seek a valuation of $143–146 billion, equivalent to at least ₹12 lakh crore, according to banking and other sources cited by PTI. The proposed listing of Jio Platforms would mark the first public offering by the Reliance Group in nearly two decades and the first consumer-facing business within the conglomerate to be taken public. Proceeds from the offering will largely be used to repay debt owed by its telecom division. Jio Platforms, which counts Meta and Google among its major foreign investors, also runs AI, cloud and enterprise network businesses. Disclaimer: We advise investors to check with certified experts before making any investment decisions. Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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