Jio IPO becomes first public issue globally to cross 1 crore applications; record puts spotlight on depth of India’s retail investor base
Reliance Industries moved higher in an ipo & listings development with October 28 in focus.
· Economic Times Markets
Jio Platforms has achieved a remarkable milestone, garnering over one crore applications for its upcoming initial public offering. This surge signifies a burgeoning interest from India's retail investors in technology sectors. With the IPO set to debut on October 28, maintaining this enthusiasm is crucial.
Key facts
- Dates in focus
- October 28
The analysis
Against that, the stock is +0.5% on the day at ₹1,190.00, and has returned -8.1% 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 -5.7% over the same period, so Reliance Industries is running 2.4 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, Financial Services, Consumer & Retail.
- The immediate tone of coverage reads positive.
In this story
Related coverage
Reliance Jio IPO creates history with fastest-ever full subscription - Will listing set more records? Check latest GMP
Stock Market LIVE: Sensex down 500 pts; Jio IPO subscribed 3.3 times on 2nd day so far
Vodafone Idea zooms 12% after FPO sees 6x subscription; focus shifts to allotment, listing
Reliance Jio IPO Global Record: Another feather in cap! History created - 1st IPO worldwide to cross 1 cr applications
Retail investors fully subscribe Jio IPO on second day