Jio Platforms Finalizes IPO Share Allotment Today, Trading Starts October 28

Jio Platforms Limited is finalizing the allotment of shares for its ₹30,200-crore initial public offering (IPO) today, October 26. This follows a subscription period that saw overwhelming demand, leading to a historic total of over one crore applications, a global record for an IPO.

The IPO was oversubscribed 22.19 times, with significant participation from various investor categories. Qualified institutional buyers (QIBs) dominated the demand, subscribing to their allotted shares 70.55 times, while non-institutional investors (NIIs) subscribed 14 times, and retail investors participated 2.72 times.

According to reports, the allotment will be confirmed today, with shares expected to begin trading on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 28. Investors who do not receive shares will see refunds processed on October 27, while those allotted shares will have them credited to their accounts on the same day.

KFin Technologies serves as the official registrar for the IPO. Investors can check their allotment status on KFin’s website, as well as on the NSE and BSE websites by providing their PAN or application number.

Market analysts predict that the listing of Jio Platforms shares will significantly impact market sentiment, especially amidst a busy week of IPO activity. Other companies like Paras Healthcare are also set to list their shares on the same day, with its own IPO subscribed 2.23 times.

Following the record-breaking Jio IPO, analysts are closely monitoring market developments, including global factors such as interest rates and crude oil prices, which may influence stock market dynamics this week.