Retail investors fully subscribe Jio IPO on second day
Reliance Industries is in focus in an ipo & listings development.
· LiveMint Markets, Business Today Mkts
The Jio Platforms IPO has been subscribed 3.64 times on second day of bidding, and the retail portion is now fully subscribed.
The analysis
Against that, the stock is -1.7% on the day at ₹1,188.30, and has returned -7.3% over three months. It sits 25% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -5.1% over the same period, so Reliance Industries is running 2.2 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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