Jio Platforms IPO got subscribed 5.57 times on Day 2, with the QIB portion leading at 13.29x. The Rs 30,213 crore offer saw strong interest across all categories. Religare Broking said, "At the upper price band of Rs.1,119, Jio is valued at ~15x FY26 EV/EBITDA on a post-issue basis."

Jio Platforms IPO was subscribed 5.57x on Day 2, led by QIB demand at 13.29x; check details.

The Rs 30,213 crore offer is entirely a fresh issue of 27 crore shares of face value Rs 10 each. Its issue price band is fixed at Rs 1,065 to Rs 1,119.

Jio Platforms IPO: All categories oversubscribed on Day 2

While the Jio Platforms IPO was fully subscribed on its first day of bidding, the retail investor category was fully booked on Day 2. By the end of Day 2, the issue was subscribed 5.57 times, with the QIBs portion leading the demand.

Strong investor interest was also seen in the NII and Shareholders categories. More than 49 lakh shares have been reserved for the company's employees, who are also eligible for a discount of Rs 54 per share to the issue price.

📊 Day 2 Live Snapshot (As of 7:00 PM IST)

Jio Platforms IPO: GMP shows volatile trend

As per various trackers, the grey market premium for the Jio Platforms IPO has been trending volatile in the unlisted markets. Currently, its GMP stands at Rs 240, suggesting a likely listing price of Rs 1,359. This reflects gains of 21.45% per share and gains of Rs 2,880 per lot.

However, it is important to note that GMP is not an official metric to determine the listing price, is highly vulnerable to market volatility, and does not guarantee gains.

Jio Platforms IPO: Brokerage commentary

Giving the Jio Platforms IPO a 'Subscribed' rating, Religare Broking in a report said, "At the upper price band of Rs.1,119, Jio is valued at ~15x FY26 EV/EBITDA on a post-issue basis, implying a premium to industry peers," the brokerage said in its report.

Jio Platforms IPO: Subscription timeline

The Jio Platforms IPO will close its bidding window on October 23. The company's share allotment process is expected to be completed by October 26, and bidders are likely to be credited with shares in their demat account and receive refunds in their bank account by October 27.

Jio Platforms is expected to list on the BSE and NSE on October 28.