Archive photo: Reliance Industries media kit (cropped).
Jio Platforms’ shares were admitted to trading in India effective Wednesday, October 28, following an initial public offering priced at Rs 1,119 a share, according to the BSE’s listing notice. The listing gives investors a separately traded stake in the Reliance Industries subsidiary.
The exchange notice lists Jio under the symbol JPL and scrip code 545004 in its ‘A’ group of securities. It admits 9,209,030,830 fully paid shares with a face value of Rs 10 each. That figure is the total shares admitted, not the number sold in the IPO.
Rs 301.876 billion public issue
The basis-of-allotment announcement filed with the NSE confirms a public issue of 270 million shares totaling Rs 301.876 billion. The issue represented 2.93% of Jio’s post-issue paid-up equity capital.
The total includes an employee reservation of 4,694,835 shares priced at Rs 1,065 each, a Rs 54 discount to the main issue price. The discount means the stated issue proceeds should not be calculated by simply multiplying all 270 million shares by Rs 1,119.
First results meeting follows Friday
In a filing to the exchanges, Reliance said Jio completed allotment on October 26 and received final listing and trading approvals on October 27, with trading to start October 28.
Jio’s board is scheduled to meet Friday, October 30, to consider its unaudited standalone and consolidated results for the quarter and half year ended September 30. The company also plans an analyst meeting after the board meeting.
The Rs 1,119 figure is the IPO issue price, not an opening-market quotation. This report does not state a debut share price or a first-day percentage gain.
JBizNews Desk | Mumbai
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