Jio IPO sparks investor buzz: GMP hits 20% as Reliance’s telecom arm announces price band, dates

Reliance Industries' telecom arm Jio Platforms filed its RHP on October 14, fixing the price band at Rs 1,065-1,119 per share for an entirely fresh issue of 27 crore equity shares, potentially raising around Rs 30,213 crore at the upper end. This would make it India's largest-ever IPO, surpassing Hyundai Motor India's Rs 27,900 crore issue, with an expected valuation of about Rs 10.3 lakh crore. Grey market premium stood at Rs 220 over the upper price band (around 20%), with the IPO opening on October 21, closing on October 23, and listing tentatively on October 28.