Jio IPO Allotment: The wait of millions of investors who invested money in the stock market is over. Allotment of shares of Reliance’s Jio platform IPO has been finalized. This process of allocation was completed on Monday, October 26. The shares will now be transferred to the demat accounts of those investors whose fortunes have opened on Tuesday, October 27. Those who didn’t get shares this time also need not worry. The money blocked in their bank accounts will also be unblocked or refunded on October 27 itself. A day after that, i.e. on Wednesday, October 28, Jio platform shares will be listed on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

How much profit on one lot?

Before the listing, the question on every investor’s mind is at what price Jio shares will open in the market. There are many good indications for this from the gray market. According to data from InvestorGain, the gray market premium (GMP) of Jio Platform IPO on Tuesday was Rs. Running on 245. The company has fixed the upper price band of this IPO at Rs. 1119 was determined. If today’s GMP is added to this, the estimated listing price of the shares is Rs. Comes around 1364.

This figure shows that investors can get a direct profit (listing gain) of about 21.89 percent on the day of listing itself. If we understand in simple language then on each share Rs. 245 expected profit. One lot of this IPO was 12 shares, for which retail investors invested Rs 13,428. If the listing is done as per the current GMP, an investor who buys a lot will have to pay Rs. 2939 will be a direct profit.

Check your status like this

If you have also invested in this IPO, you can check your allocation status online at home. For this, the official website of KFin Technologies, BSE or NSE can be used.

By KFin Technologies

1. First of all go to its official portal.
2. There select ‘Jio Platforms Ltd’ from the dropdown menu of IPO.
3. To verify your identity, tick any one option like Application Number, PAN or Demat Account Number.
4. Enter your number, then click submit and your result will appear on the screen.

Through BSE website

1. Go to the application status page of BSE.
2. Here select ‘Equity’ in ‘Issue Type’ option.
3. After this, select ‘Jio Platforms Ltd’ from the dropdown menu of ‘Issue Name’.
4. Enter your IPO Application Number or PAN Number.
5. After completing the captcha verification, click on the ‘Search’ button.

Through NSE Portal

1. Investors should visit the bid verification page of NSE.
2. Here select ‘Equity and SME IPO Bid Details’ option.
3. Go to the dropdown menu and select ‘Jio Platforms’ or the symbol ‘JPL’.
4. Enter required information like PAN or Application Number.
5. Finally click submit to check your status.

The IPO received an overwhelming response

This IPO of Jio platform was worth Rs 30,213 crore. For this price per share Rs. 1,065 to Rs. 1,119 were kept between. Retail investors had to apply for a minimum of 12 shares i.e. one lot. This issue was immediately accepted in the market. Overall it got 22.19 times subscription.

Among these, the most enthusiasm was shown by large institutional investors ie Qualified Institutional Buyers (QIB), whose quota was filled 70.55 times. While the non-institutional investors (NII) category received 14 times the bid. General investors i.e. retail share also received 2.72 times subscription.

The money from the IPO will be used to repay the loan

The special thing about this IPO was that all 27 crore equity shares were newly issued. There was no ‘offer-for-sale’ (OFS) component, meaning old shareholders did not sell their stake. Therefore, all the money raised from the IPO will go directly to the company. The company has clarified that out of this amount Rs. 27,500 crore will be used to repay the debt of its subsidiary company ‘Reliance Jio Infocomm Limited’. With this, the balance sheet of the company will become much stronger than before.