Jio Platforms, the digital and telecom business of Reliance Industries, has announced the price band for its much-awaited initial public offering (IPO). The company aims to raise up to ₹30,213 crore, which would make it India’s biggest-ever IPO. The price band is ₹1,065 to ₹1,119 per share.
How much money is needed?
Investors must apply for at least 12 shares. At the upper price of ₹1,119, one lot will cost ₹13,428. At the lower price of ₹1,065, the cost will be ₹12,780, excluding any applicable charges.
Important dates
- October 19: Bidding opens for anchor investors
- October 21: IPO opens for public applications
- October 23: IPO closes
- October 26: Expected allotment finalisation
- October 27: Shares expected to reach demat accounts
- October 28: Expected stock market listing
Who gets special benefits?
Eligible Reliance Industries shareholders have a reserved portion worth up to ₹2,500 crore. Employees have a reserved portion worth up to ₹500 crore and a ₹54-per-share discount. Shareholder eligibility and the record date should be checked in the official offer document.
What if you do not have a demat account?
Open an account with a registered broker or depository participant, complete the required verification and link your bank account before applying through an available IPO application method.
Remember: Grey Market Premium (GMP) is unofficial and does not guarantee listing gains. This article is for information, not investment advice; IPOs involve market risk.
