Jio IPO Listing: In the stock market, the wait for the moment, on which crores of investors were waiting, came to an end on Wednesday. Shares of Jio Platform have started their explosive innings on the stock exchange. Company’s Rs. This mega IPO of 30,200 crore has filled the pockets of investors as soon as it was listed. The lucky investors who were allotted shares in this IPO made huge profits on the first day. The stock listing was stronger than expected from the informal market.

Listing at Rs 1358, how much to earn on one lot?

The company for its IPO raised Rs. An upper price band of 1119 was fixed. When the market opened on Wednesday, shares of Jio Platform traded at a handsome premium of 21.35 percent at Rs. 1358 was listed. That is, the investors directly get Rs. 239 has made a huge profit.

The lot size of this IPO was 12 equity shares. According to this, the investors who were allotted a single lot along with the listing will get Rs. 2,868 in direct profit. Before listing, its gray market premium (GMP) was Rs. 247 was around, leading to a listing of Rs. Expected to be around 1366. Actual listings are also very close to this estimate.

Beating Airtel to the No. 2 position.

This strong listing has also changed the equations of the Indian stock market. Jio Platforms has now become the second most valuable company in India after its parent company Reliance Industries Limited. The market capitalization of Jio platform is Rs. 12.61 lakh crore has been crossed. On Tuesday, Bharti Airtel shares closed at ₹1,978.80 on the NSE and the company’s market cap was approximately ₹12.35 lakh crore. Bharti Airtel Limited has now slipped to the third position due to Jio’s surge.

A historical record was created in Lajam

This IPO of Jio Platform was open for subscription between October 21 and 23. In this three-day bidding process, the company raised Rs. 1,065 to Rs. 1,119 price range offered the shares. The issue was entirely of 27 crore new equity shares. There was no offer-for-sale (OFS) involved in this.

During the subscription, this IPO broke all the old records of the Indian market. It was subscribed a total of 22.19 times. Around 1.4 crore applications were received in this issue, through which over Rs 4.9 lakh crore was bid. From the number of applications to the total bid amount, this is a new record in Indian IPO history. Institutional investors played the biggest role in this tremendous demand, with their stake being overfilled at over 70.55 times.

Take profits now or hold shares for the long term?

Rs. After the spectacular listing at 1358, the biggest question on investors’ minds now is whether they should cut their profits or hold on to the stock. Varun N Joshi, founder of Nirivantes Research, has suggested a very clear strategy on this. He advised investors to book their profits on the day of listing.

Varun N Joshi believes that at the level at which the stock is listed, its valuation is over (fairly valued). After this, there is no possibility of any major volatility in the stock. Therefore, it is wise for investors to collect their profits once. After this, when the stock is seen at a low price of Rs 1200 or Rs 1250 amid fluctuations in the market, it can be bought again.