Reliance Industries Share Price: Shares of Reliance Industries (RIL), led by Mukesh Ambani, are expected to remain in focus on Thursday, October 15, after Jio Platforms filed its Red Herring Prospectus (RHP) for its initial public offering (IPO), which is scheduled to open for public subscription on October 21.
The Nifty 50 constituent settled 0.7 per cent, or Rs 7.9, higher at Rs 1,174 in the previous trading session. Reliance Industries had a market capitalisation of Rs 15,89,532 crore, as per official data available on the NSE.
RIL Share Price: Jio Platforms IPO to open next week
Jio Platforms IPO: Price band, issue size and dates
On Wednesday, Jio Platforms Limited fixed the price band for its proposed IPO at Rs 1,065-Rs 1,119 per equity share. According to the company’s RHP, eligible employees will receive a discount of Rs 54 per share, while the minimum bid lot has been set at 12 equity shares. Bids can be placed in multiples of 12 shares thereafter.
Jio Platforms aims to raise Rs 30,213 crore through the IPO. The public offering consists of a fresh issue of up to 27,00,00,000 (27 crore) equity shares, each with a face value of Rs 10.
Jio IPO Key Dates
According to the RHP, the Jio Platforms IPO will open for public subscription on Wednesday, October 21, and close on Friday, October 23. The bidding for anchor investors is scheduled for Monday, October 19, while the shares are expected to list on October 28.
Jio Platforms IPO: Employee and Reliance shareholder reservations
The Jio Platforms IPO includes reserved portions for eligible employees and Reliance Industries shareholders.
According to the details provided, up to Rs 500 crore has been reserved for eligible employees, while up to Rs 2,500 crore has been earmarked for eligible Reliance Industries shareholders.
Eligible employees will also receive a discount of Rs 54 per share, as specified in the IPO details.
Jio Platforms IPO GMP at Rs 206
Following the filing of its RHP, the unlisted premium for Jio Platforms shares stood at Rs 206.
At the upper end of the IPO price band of Rs 1,119 per share, the grey market premium (GMP) reflects an unlisted premium of about 18 per cent. Based on the prevailing GMP, the IPO is expected to list at Rs 1,325.
Reliance Industries Share Price: Jio Platforms IPO impact
The filing of the Jio Platforms RHP on Wednesday could keep Reliance Industries shares in focus during Thursday’s trading session, as the proposed IPO moves closer to its subscription period.
Jio Platforms is a subsidiary of Reliance Industries and one of its most valuable businesses. Progress towards the listing could influence investor sentiment around RIL amid expectations of potential value unlocking.
With the Jio Platforms IPO scheduled to open on October 21, the company’s upcoming public offering remains a key development for Reliance Industries shares.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)