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Jio Platforms Shares Indicated 22% Higher in India Gray-Market Trading

By ChordNews · First written (updated )

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Summary

Shares in Jio Platforms Ltd.'s $3.1 billion India-record initial public offering are indicated 22% higher in India's unofficial gray market, according to Bloomberg. Investors who received shares in the offering are seeing that unofficial trading fuel hopes of a big debut pop. A later Bloomberg newsletter says the gray-market premium of about 22% suggests investors are betting on a strong start, and frames the listing as a possible break from India's history of mega-IPO disappointments.

This continues an earlier story: Jio Platforms launches India's biggest-ever IPO amid a market downturn and rivalry with Elon Musk

Later: Jio shares surge more than 20% in market debut · Jio Platforms Completes India's Biggest-Ever IPO With Strong Trading Debut · Jio Platforms' Sparkling Debut Boosts Momentum for Mega Deals in India's IPO Pipeline

Timeline

  1. Bloomberg

    Source ↗

    Bloomberg reports that Jio Platforms Ltd.'s $3.1 billion India-record IPO has shares indicated 22% higher in India gray-market trading, fueling hopes of a big debut pop.

  2. Bloomberg

    Source ↗

    Bloomberg's newsletter reports that a gray-market premium of about 22% suggests investors are betting on a strong start for Jio's stock-market debut, which it says could break India's mega-IPO jinx.

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