Jio IPO Listing Date and Time, Share Price Live Updates: The markets are all excited for the big listing of the month. On Oct 28, Mukesh Ambani-backed Jio Platforms lists on Dalal Street. The debut unlocks value for the RIL group adds another player to the telecom battle, alongside Bharti Airtel and others.
Jio’s book-build issue was worth Rs 30,187.65 crore and was subscribed 22.19 times. On day one, it was fully subscribed in just 100 minutes. The first 10 minutes were enough for big institutions such as mutual funds and insurers to claim their entire share.
A decade ago, the company set out as a disruptor in the telecom space. Remember when Jio gave you a free SIM? Its entry into Dalal Street marks a brand new milestone in that journey.
Follow our live blog for the latest updates on Jio Platforms’ IPO listing, live share price, listing gains or losses, and other key developments as the stock makes its debut on Dalal Street.
Large institutional investors, including mutual funds and insurance companies, subscribed to their entire allocated portion of the Jio Platforms IPO within the first 10 minutes of bidding on day one. Within 100 minutes, the entire issue had been subscribed, well before the close of the three-day bidding window.
By the time bidding closed on Friday, October 23, demand had reached 22.19 times the shares on offer, translating to roughly 22 bids for every share available.
Most market participants expect Jio Platforms shares to list at a premium of around 10%. However, they believe the stock's performance after listing will be equally important to watch.
Many view Jio Platforms as a key player in the telecom sector, trading at a significant discount to its closest peer, Bharti Airtel, with scope for further upside.
Sneha Poddar, Vice President of Research at wealth management firm Motilal Oswal, expects Jio Platforms to deliver a strong listing-day performance, supported by institutional demand, limited share availability and expectations of telecom tariff hikes.
Poddar stated, “a strong listing-day performance for Jio Platforms, underpinned by robust institutional interest and a tightly constrained initial free float of around 3%, which creates favourable supply-demand dynamics. Furthermore, anticipation of imminent telecom tariff revisions provides positive near-term momentum.”
Poddar also considers Jio Platforms a strong long-term investment opportunity, citing its valuation, operating margins, market share in wireless and broadband, and potential for sustained cash flow growth.
She pointed out that, “Jio is a compelling long-term accumulation, priced at roughly 11.2x FY28E EV/EBITDA, its valuation is well-supported by industry-leading operating metrics, including 50% plus EBITDA margins, dominant market share in wireless and broadband, and a structural path toward robust cash-flow compounding.”
Dipan Mehta, Director of Elixir Equities, echoed the positive outlook on Jio Platforms' listing prospects, saying the IPO is attractively priced compared with its closest competitor, Bharti Airtel. He expects the stock to see a listing gain of Rs 150 to Rs 250 per share.
“The price at which the issue has been done is very well priced, in fact slightly underpriced as well at a discount to its closest competitor and peer-to-peer company, Bharti Airtel by at least about 20 to 25 percent. You could expect anywhere from Rs 150 to Rs 250 pop on listing.”
Market veteran Arun Kejriwal expects Jio Platforms shares to list at around Rs 1,330 to Rs 1,380 apiece, citing strong investor demand for the IPO.
“The subscription tells you that the demand that has been generated is far greater than what people were talking about. Very clearly, this means that people have liked the story of Jio, and therefore they have subscribed. If I were to hazard a guess, the price on listing day may move within a band of Rs 1,330 to 1,380 a share.”
On the broader prospects of the telecom sector and his top stock picks, Kejriwal said Jio and Bharti Airtel would compete for investor interest, while Bharti Hexacom and Vodafone Idea would remain distant third and fourth choices. He added, “from a comparable perspective with Airtel, which is the competitor, it has a larger subscriber base or user base, and they are the youngest telecom company in the country, having finished the first decade. So Jio and Airtel would be vying for investors’ money, and of course the other two stocks, Bharti Hexacom and Vodafone Idea, would be a distant third or fourth, respectively.”
Deven R Choksey, Founder and Managing Director of DRChoksey Finserv, believes Jio Platforms could see its market capitalisation double over the next four-and-a-half to five years. However, he cautioned investors against getting carried away by the excitement around the listing and said long-term investment decisions should be based on conviction in the company's prospects.
“We will have to be careful about the hype which is getting created during the listing and post listing. I think for long-term investment, you have to be completely convincing. I maintain that in 4.5 to 5 years, the market cap of 10 lakh crore at the IPO is expected to double. So, Jio in most likelihood, I think, would be the second company after Reliance as far as the market cap size is concerned. So, if number one is Reliance industry, number two would be Jio as far as market capitalisation is concerned, post listing.”
Sandip Sabharwal of Asksandipsabharwal.com believes Jio Platforms’ IPO pricing played an important role in attracting investors. He said the issue was not priced too aggressively, which helped it receive a strong response. “Given that it was not very aggressively priced, it got a very good response. I think the main reasons are that investors believe that going forward there will be greater pricing discipline once Jio gets listed and ARPUs for the entire industry are likely to move up.” ARPU, or average revenue per user, measures how much revenue a telecom company earns per customer. An increase in ARPU could support revenue growth across the telecom industry.
Sabharwal also believes Jio Platforms shares are attractively valued compared with their historical valuations and potential earnings growth. He said, “the stock is cheap relative to historic valuations as well as what they are doing and the kind of earning growth potential that’s there. Obviously if the listing is good and the stock does well post-listing, it will have a positive rub-off effect on the Reliance Industries stock too.” His view suggests that a strong performance by Jio Platforms after listing could also improve investor sentiment towards its parent company, Reliance Industries.
Market veteran Arun Kejriwal believes Jio Platforms could list in the range of Rs 1,330 to Rs 1,380 per share, citing strong investor demand for the IPO. Explaining his view, he said, “the subscription tells you that the demand that has been generated is far greater than what people were talking about. Very clearly, this means that people have liked the story of Jio, and therefore they have subscribed. If I were to hazard a guess, the price on listing day may move within a band of Rs 1,330 to 1,380 a share.” However, this is an estimate, and the actual listing price will depend on market conditions and investor sentiment.
On the broader telecom sector, Kejriwal sees Jio and Bharti Airtel competing for investors’ attention, given their subscriber bases and market positions. He said, “from a comparable perspective with Airtel, which is the competitor, it has a larger subscriber base or user base, and they are the youngest telecom company in the country, having finished the first decade. So Jio and Airtel would be vying for investors' money, and of course the other two stocks, Bharti Hexacom and Vodafone Idea, would be a distant third or fourth, respectively.”
Mukesh Ambani-backed Jio Platforms is set to make its stock market debut on Dalal Street on October 28. After attracting strong investor demand during its IPO, the focus now shifts to the listing price and the stock’s performance on its first trading day. We will keep you updated on the opening price, market movements and other important developments throughout the session.
Welcome to our live blog for the Jio Platforms IPO listing. We will bring you the latest updates on the grey market premium (GMP), share price, listing gains or losses, and key developments as they unfold. Stay tuned to get real-time updates on the stock’s market debut and investor reactions.