# Jio IPO GMP at 20%: Grey market signals Rs 220 premium

> Jio Platforms IPO commands Rs 220 grey market premium, signaling 20% gain before listing.
- Title: Jio IPO GMP at 20%: Grey market signals Rs 220 premium
- Summary: Jio Platforms IPO commands Rs 220 grey market premium, signaling 20% gain before listing. Jio Platforms' IPO is expected to list at Rs 1,339 after grey…
- Keywords: jio platforms, ipo, grey market premium, rs 220, jio platforms ipo, emkay global, sbi securities, jio platforms valuation, jio platforms subscription, money, business, Jio
- Source: The Economic Times — https://economictimes.indiatimes.com/markets/stocks/news/jio-ipo-gmp-at-20-grey-market-signals-rs-220-premium-as-brokerages-say-subscribe/articleshow/134985658.cms
- Author: Nikhil Agarwal
- Published: 2026-10-16T07:03:00+00:00
- Read time: 1 min
- Topics: jio platforms, ipo, grey market premium, rs 220, jio platforms ipo, emkay global, sbi securities, jio platforms valuation, jio platforms subscription, money, business
## Jio Platforms IPO Details
Jio Platforms' mega Rs 30,200 crore initial public offering is priced at Rs 1,065 - Rs 1,119 per share and scheduled to open on Oct 21.
## Grey Market Premium
The grey market signals a Rs 220 premium, implying an indicative listing price of Rs 1,339 at the upper price band.
## Brokerage Recommendation
Emkay Global recommends subscribing to the IPO, citing Jio's market leadership and digital growth prospects.
## Jio's Market Position
Jio operates India's largest telecom network with 533.3 million customers as of June 2026.
## Financial Metrics
Jio's revenue grew at 15.8% CAGR between FY24 and FY26, with EBITDA and profit after tax rising 16.2% and 18.4%.
## 5G Leadership
Jio has the largest 5G customer base outside China with 284.9 million subscribers as of Q1 FY27.
## Technology Investments
Jio filed 7,220 patent applications as of Q1 FY27, including 2,655 in India and 4,565 overseas.
## Valuation Metrics
At the upper price band, Jio is valued at 31.7-33.3 times FY26 earnings and 15-15.6 times FY26 EBITDA.
## Risks and Concerns
Emkay flagged risks including spectrum costs, regulatory changes, and competitive pressure on ARPU and churn.
## Proceeds Allocation
Jio plans to use Rs 27,500 crore of IPO proceeds to repay or prepay borrowings.
## Key takeaway

Jio Platforms' IPO is expected to list at Rs 1,339 after grey market signals a Rs 220 premium over the upper price band.