Jio Platforms IPO subscribed 85% within 5 mins on Day 1; GMP hits fresh highs
Reliance Industries moved higher in an ipo & listings development with October 21-23 in focus.
· Business Today Mkts
Jio Platforms is selling its shares in the price band of Rs 1,065-1,119 apiece, applied for a minimum of 12 shares and its multiples to raise Rs 30,213 crore between October 21-23.
Key facts
- Dates in focus
- October 21-23
The analysis
Reliance Industries reported Rs 1,065 and Rs 30,213 crore, with movement of 85% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +1.9% on the day at ₹1,224.30, and has returned -6.3% over three months. It sits 23% below its 52-week high. The oil & energy sector has moved -4.7% over the same period, so Reliance Industries is running 1.6 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Why it matters
- Listing activity is a read on risk appetite — a hot primary market usually means a confident secondary one.
Market context
- The company directly in focus is RELIANCE.
- Sector exposure: Oil & Energy.
In this story
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