BusinessPhoto: Mint MarketsReliance Jio IPO Subscribed 7.64x with 21.88% GMP Listing Gains
Reliance Jio's IPO, backed by Mukesh Ambani's Reliance Industries, is subscribed 7.64 times as of October 23 afternoon. The Qualified Institutional Buyers category saw 16.27x subscription, Non-Institutional Investors 10.45x, and Retail Investors 2.14x. The grey market premium stands at ₹245 per share, indicating a likely listing price of ₹1354 and expected gains of about 21.88%.
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