Jio IPO a week away: Here's what GMP indicates before opening on October 21

Reliance Industries-backed Jio Platforms is just a week away from opening its much-awaited initial public offering (IPO), with the grey market premium (GMP) indicating strong unofficial demand ahead of what could become India's biggest-ever public issue.The IPO is expected to open for subscription on October 21 and close on October 23, according to market reports. The Economic Times reported on Wednesday that Jio Platforms was poised to file its red herring prospectus (RHP), with the issue expected to raise around Rs 30,000 crore.The latest GMP reading in the data shared for this story stood at Rs 211 per share on October 14 at 12:37 pm, down from Rs 218 on October 13. However, other grey-market trackers reported different readings, underlining that the premium is unofficial and can vary across sources.WHAT IS JIO IPO GMP TODAY?GMP, or grey market premium, is the amount by which a share is reportedly trading in the unofficial market before its stock market listing. It is often tracked as an indicator of investor sentiment ahead of an IPO, but it is not an exchange-verified price or a guarantee of listing gains. The latest figures shared show Jio Platforms' GMP rising from Rs 156 on October 5 to Rs 218 on October 13 before easing to Rs 211 on October 14.Other trackers reported a premium of around Rs 215 on October 14. The difference reflects the informal nature of grey-market trading, where quotes can vary by source and time of update.WHEN WILL JIO IPO OPEN? The Jio Platforms IPO is expected to open for public subscription on October 21 and close on October 23, with listing expected on October 28, according to market trackers. These dates should be treated as expected until confirmed in the company's final offer documents.Reuters reported last week that Jio Platforms was targeting a valuation of around $106 billion and a price band of Rs 1,065 to Rs 1,119 per share. The proposed issue could raise up to Rs 30,213 crore, making it larger than Hyundai Motor India's Rs 27,800-crore IPO in 2024.Jio Platforms has grown from a telecom-focused business into a broader digital services company spanning mobile connectivity, broadband, cloud, entertainment, enterprise technology and artificial intelligence. It had nearly 524.4 million subscribers as of March, Reuters reported.The IPO is also significant for Reliance Industries, whose investors are watching how the listing could unlock value in its digital and telecom business. However, the final valuation, issue terms and investor response will be clearer once the offer documents and price details are formally announced.SHOULD INVESTORS RELY ON GMP?The GMP suggests that unofficial market participants are willing to pay a premium for Jio shares ahead of the IPO. But it should not be treated as a reliable prediction of the listing price.Grey-market quotes can change quickly as the issue approaches, and the actual listing price will depend on demand, valuation, market conditions and the final offer terms.Investors should read the company's offer documents and assess its financial performance, risks and valuation before making a decision.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends