Investors who applied for the Jio Platforms IPO can check their share allotment, finalised on Monday, 26 October. The allotment will decide who gets shares in one of India’s biggest public issues of the year.
The Rs 30,213-crore initial public offering opened for subscription on 21 October and closed on 23 October. It received an overall subscription of 22.19 times, with strong demand from institutional investors and a record number of retail applications.
Applicants can check their allotment status online using their Permanent Account Number, application number or demat account details. The status is available on the websites of the registrar, KFin Technologies, and the two stock exchanges, BSE and NSE.
The shares are expected to list on the BSE and NSE on Wednesday, 28 October, according to the tentative schedule. Refunds and the credit of shares to successful applicants are expected on Tuesday, 27 October.
How to check allotment
Investors can check their allotment status through KFin Technologies, the registrar to the issue. They should visit the official KFin Technologies IPO status website and select Jio Platforms Ltd from the IPO selection menu, once it is available.
They then choose PAN as the identification option, enter their PAN details in the field and submit the information. The allotment status will appear on the screen once the results are published.
Applicants can also check their status through the BSE IPO application status portal. They need to select Equity as the issue type, choose Jio Platforms Limited from the issue name dropdown, and enter their application number or PAN, along with the captcha code.
The NSE offers a third route through its IPO bid verification portal. Investors select Equity and SME IPO Bid Details, choose the symbol JPL for Jio Platforms, and enter their application number or PAN before submitting.
The result will show whether shares have been allotted or not. Investors may need to revisit the portal if the result has not yet been published, because the allotment is finalised through the day.
Issue at a glance
The Jio Platforms IPO was structured entirely as a fresh issue of 27 crore shares, with no offer for sale. The price band was Rs 1,065 to Rs 1,119 per share, and the final issue price was fixed at Rs 1,119 per share.
One lot was 12 shares, so the minimum investment for a retail investor was Rs 13,428. Employees of the company got a discount of Rs 54 per share.
Total demand, including anchor investors, topped Rs 7.4 lakh crore. The public issue alone drew bids worth more than Rs 4.9 lakh crore, excluding the anchor portion.
Small investors turned up in force too. Retail demand crossed Rs 25,867 crore, and nearly 1.39 crore applications poured in, an unprecedented response for a digital services company.
The grey market premium stood at about Rs 247 on Monday morning, which points to a listing price of about Rs 1,366. The grey market is unofficial and unregulated, and the premium changes several times a day, so it is only a rough guide to market mood and never a promise of the listing price.
Listing on Wednesday
The listing on Wednesday will be watched closely across the market. Jio Platforms is the digital arm of Reliance Industries, and its public debut is one of the largest Indian IPOs of the year.
Paras Healthcare, whose IPO also opened on 21 October and closed on 23 October, is also due to finalise its allotment today. That issue was subscribed 1.92 times, far below the demand seen for Jio Platforms.
For investors who do not get shares, the money blocked in their bank accounts will be released. The refund and unblocking of mandates is scheduled for Tuesday, 27 October, along with the credit of shares to those who were allotted.
Investors are advised to check only the official websites of KFin Technologies, BSE and NSE for their allotment status. Links shared on social media or messaging apps may be fake, and applicants should never share their PAN or bank details with anyone who claims to help with allotment.
