{"id":313411,"date":"2026-10-16T12:46:33","date_gmt":"2026-10-16T07:16:33","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=313411"},"modified":"2026-10-16T12:46:33","modified_gmt":"2026-10-16T07:16:33","slug":"reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/","title":{"rendered":"Reliance Jio IPO: Should Investors Chase Listing Gains or Focus on Long-Term Value? Experts Weigh In"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>The Jio IPO opens on Wednesday 21 Oct 2026 and closes on 23 Oct, with a price band of Rs 1,065 to Rs 1,119 and an issue of up to 27 crore fresh shares worth up to Rs 30,213 crore. Reliance Industries owns 66.43% of Jio Platforms. Experts split on listing gains versus long-term value: one report warns that shares can list below the issue price. My calculation puts the upper band at about 33 times FY26 earnings. Educational, not advice.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The Jio IPO opens on 21 October 2026 at a price band of Rs 1,065 to Rs 1,119 per share, and Reliance Industries owns 66.43% of Jio Platforms. Experts say the real question is whether the valuation of about Rs 10.3 lakh crore is justified by earnings growth, because a listing gain is not guaranteed and shares can list below the issue price. Nomura puts Jio&#8217;s implied enterprise value at 10.5 to 10.9 times FY28 EBITDA, below the 12 times it sees for Jio and Bharti Airtel. An investor chasing a quick listing gain from the Jio IPO takes more risk than one with a long-term view, and the choice depends on your time frame.<\/p>\n<\/p><\/div>\n<p>The Jio IPO is set to be one of the largest issues in India, about 8% above Hyundai Motor India&#8217;s Rs 27,858.75 crore offer in 2024. Because the Jio IPO is a fresh issue with no offer for sale, the money goes to Jio Platforms to repay borrowings of Reliance Jio Infocomm and for general corporate purposes.<\/p>\n<p>This guide sets out what experts say about listing gains and long-term value in the Jio IPO, the key terms, the valuation numbers, the shareholder quota and the risks. It is educational and not a recommendation to apply or avoid the issue.<\/p>\n<p style=\"margin-top:24px;\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#Jio_IPO_Key_Terms\" title=\"Jio IPO Key Terms\">Jio IPO Key Terms<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#Jio_IPO_Listing_Gains_Versus_Long-Term_Value_What_Experts_Say\" title=\"Jio IPO Listing Gains Versus Long-Term Value: What Experts Say\">Jio IPO Listing Gains Versus Long-Term Value: What Experts Say<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#Jio_IPO_Valuation_Is_the_Price_Fair\" title=\"Jio IPO Valuation: Is the Price Fair?\">Jio IPO Valuation: Is the Price Fair?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#Grey_Market_Premium_and_the_Jio_IPO\" title=\"Grey Market Premium and the Jio IPO\">Grey Market Premium and the Jio IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#Jio_IPO_Listing_Gain_Maths_What_One_Lot_Can_Gain_or_Lose\" title=\"Jio IPO Listing Gain Maths: What One Lot Can Gain or Lose\">Jio IPO Listing Gain Maths: What One Lot Can Gain or Lose<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#Jio_IPO_Risks_to_Weigh\" title=\"Jio IPO Risks to Weigh\">Jio IPO Risks to Weigh<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#What_to_Watch_Next\" title=\"What to Watch Next\">What to Watch Next<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#When_does_the_Jio_IPO_open_and_close\" title=\"When does the Jio IPO open and close?\">When does the Jio IPO open and close?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#What_is_the_Jio_IPO_price_band_and_lot_size\" title=\"What is the Jio IPO price band and lot size?\">What is the Jio IPO price band and lot size?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#Should_I_chase_listing_gains_in_the_Jio_IPO\" title=\"Should I chase listing gains in the Jio IPO?\">Should I chase listing gains in the Jio IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#What_do_experts_say_about_the_long-term_value_of_the_Jio_IPO\" title=\"What do experts say about the long-term value of the Jio IPO?\">What do experts say about the long-term value of the Jio IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#What_is_the_Jio_IPO_valuation\" title=\"What is the Jio IPO valuation?\">What is the Jio IPO valuation?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#What_is_the_grey_market_premium_for_the_Jio_Platforms_IPO\" title=\"What is the grey market premium for the Jio Platforms IPO?\">What is the grey market premium for the Jio Platforms IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#What_are_the_risks_of_the_Jio_IPO\" title=\"What are the risks of the Jio IPO?\">What are the risks of the Jio IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/reliance-jio-should-investors-chase-listing-gains-or-focus-on-long-term-value-experts-weigh-in\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Jio_IPO_Key_Terms\"><\/span><strong>Jio IPO Key Terms<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Detail<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Subscription<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">21 to 23 October 2026; anchor book on 19 October<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price band<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 1,065 to Rs 1,119 per share<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Lot size<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">12 shares (Rs 12,780 to Rs 13,428); an earlier tentative report said 13<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Issue size<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up to 27 crore shares as a fresh issue, Rs 28,755 crore to Rs 30,213 crore; no offer for sale<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Reservations<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Up to Rs 500 crore for employees (discount Rs 54) and up to Rs 2,500 crore for Reliance shareholders<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Allotment and listing<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Allotment around 26 October; listing expected 28 October on NSE and BSE<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Use of funds<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Prepaying borrowings of Reliance Jio Infocomm and general corporate purposes<\/td>\n<\/tr>\n<\/table>\n<p>The issue size range is 27 crore shares multiplied by the lower and upper price band (my calculation). The dates after the subscription are expected dates, so check the RHP and exchange notices.<\/p>\n<p style=\"margin-top:24px;\"><strong>Screen large cap stocks on the Univest Screener<\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Jio_IPO_Listing_Gains_Versus_Long-Term_Value_What_Experts_Say\"><\/span><strong>Jio IPO Listing Gains Versus Long-Term Value: What Experts Say<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Expert or source<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Date<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">View<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Equentis<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">14 Oct 2026<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">The key question is whether Jio&#8217;s telecom and digital businesses justify the valuation, not whether it lists at a premium; those seeking quick listing gains should be careful since shares can trade below the issue price<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Ambareesh Baliga, independent analyst<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">19 Jun 2026<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">If enough value is left on the table and the issue performs well after listing, it could act as a catalyst for the market<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Chokkalingam G, Equinomics<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">19 Jun 2026<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Lower debt could lift Jio&#8217;s profitability and may re-rate Reliance Industries<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">U R Bhat, Alphaniti Fintech<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">19 Jun 2026<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">A listed Jio could set a valuation benchmark and improve price discovery<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Harshal Dasani, INVasset PMS<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">12 Oct 2026<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Called the shareholder quota essentially a lottery ticket; do not buy Reliance only to chase it<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Kranthi Bathini, WealthMills Securities<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">12 Oct 2026<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Applying in two categories improves the odds, but only for investors positive on Jio for the long term<\/td>\n<\/tr>\n<\/table>\n<p>The June comments on the Jio IPO came when the DRHP was filed and before the price band was known, so they are older than the October views. I did not find named expert calls on listing day gains for the Jio IPO, and the experts who spoke about value did not give targets.<\/p>\n<p><strong>Risk:<\/strong> Without a disclosed target, the long-term case for the Jio IPO rests on your own view of tariffs and growth.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Jio_IPO_Valuation_Is_the_Price_Fair\"><\/span><strong>Jio IPO Valuation: Is the Price Fair?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Item<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Figure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Source or calculation<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Equity value at the price band<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 9.8 lakh crore to Rs 10.3 lakh crore ($101 to $107 billion)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nomura, via Business Today, 12 Oct<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Enterprise value<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 10.9 lakh crore to Rs 11.4 lakh crore ($113 to $118 billion)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nomura<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Implied FY28 EV\/EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">10.5 to 10.9 times, against 12 times for Jio and Bharti Airtel<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nomura<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Bharti Airtel India business<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">9.2 times FY28 EV\/EBITDA<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nomura<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">FY26 diluted EPS and NAV per share<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 33.59 and Rs 373.66<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Offer document, via Kotak Neo<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to earnings<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">31.7 times at Rs 1,065 and 33.3 times at Rs 1,119<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">My calculation<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to book value<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 2.9 to 3.0 times<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">My calculation<\/td>\n<\/tr>\n<\/table>\n<p>Nomura sees Jio&#8217;s enterprise value at 11% to 15% below its $133 billion target, which is based on 12 times June 2028 EBITDA. That points to some room at the price band, but Nomura also expects tariff hikes in the third quarter of FY27, and it notes that after the July 2024 hike Jio lost 0.3% of subscribers while Airtel added 2% over three quarters.<\/p>\n<p>Jio&#8217;s FY26 numbers are strong: revenue of Rs 1,46,885 crore, EBITDA of Rs 76,255 crore at a 51.9% margin and profit after tax of Rs 30,049 crore. Return on average net worth was 9.42%, which is modest for a company valued at three times book.<\/p>\n<p><strong>Risk:<\/strong> A valuation based on future tariff hikes can disappoint if subscribers downgrade or competition holds prices.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the Univest iOS App or Univest Android App to track the Jio IPO and Reliance stock and set price alerts.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Grey_Market_Premium_and_the_Jio_IPO\"><\/span><strong>Grey Market Premium and the Jio IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Grey market premium (GMP) is an unofficial, unregulated indicator for the Jio Platforms IPO that is not endorsed by SEBI, NSE, or BSE. Investors looking for indicative GMP data can go through other relevant sources, though such figures should never be the sole basis for an investment decision.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Jio_IPO_Listing_Gain_Maths_What_One_Lot_Can_Gain_or_Lose\"><\/span><strong>Jio IPO Listing Gain Maths: What One Lot Can Gain or Lose<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Scenario at the upper band (my calculation)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">One lot of 12 shares<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Note<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Cost of one lot<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 13,428<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">12 x Rs 1,119<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Listing 5% above the issue price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Gain of about Rs 671<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Before charges and tax<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Listing 5% below the issue price<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Loss of about Rs 671<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Before charges and tax<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Maximum lots within a Rs 2 lakh retail cap<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">14 lots (168 shares) costing Rs 1,87,992<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">15 lots would cost Rs 2,01,420<\/td>\n<\/tr>\n<\/table>\n<p>The figures show how small a typical listing gain in the Jio IPO is in rupees for a retail lot, while a drop is the same size. For an issue this large, allotment may be partial and the listing price depends on demand from institutions, which together make a listing gain an uncertain goal.<\/p>\n<p>The Reliance shareholder quota is up to Rs 2,500 crore for individuals and HUFs holding Reliance shares on 14 October, with a bid cap of Rs 2 lakh. Shares bought after that date do not qualify, and allotment is not guaranteed.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Jio_IPO_Risks_to_Weigh\"><\/span><strong>Jio IPO Risks to Weigh<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Risk<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Why it matters<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Valuation<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 33 times FY26 earnings at the upper band, with growth tied to tariff hikes<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Competition and pricing<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Bharti Airtel and Vodafone Idea can affect tariffs and retention<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Regulation and technology<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Spectrum rules, licences, policy changes and satellite connectivity<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Holding company discount<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Nomura applies 20% to Reliance&#8217;s stake, so Reliance shares may not gain from the Jio IPO<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Group dependence<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Agreements with Reliance Retail and other group entities, and the Jio trademark<\/td>\n<\/tr>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next\"><\/span><strong>What to Watch Next<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>The anchor book on 19 October and the allotment of anchor investors<\/li>\n<li>Subscription by category on 21, 22 and 23 October<\/li>\n<li>The final price band and lot size of the Jio IPO in the RHP<\/li>\n<li>Allotment of the Jio IPO on 26 October and the listing price on 28 October<\/li>\n<li>Tariff hike announcements after the listing<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Jio IPO offers a large, profitable business at a valuation that depends on future tariff growth. Experts say to focus on value and not on a listing pop, which is not guaranteed. Read the RHP, set a position size you can afford to lose and decide on your own time frame.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"When_does_the_Jio_IPO_open_and_close\"><\/span><strong>When does the Jio IPO open and close?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Jio IPO opens on 21 October 2026 and closes on 23 October, with the anchor book on 19 October and listing expected on 28 October.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Jio_IPO_price_band_and_lot_size\"><\/span><strong>What is the Jio IPO price band and lot size?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The price band is Rs 1,065 to Rs 1,119 per share and the lot size is 12 shares, or Rs 13,428 at the upper band. An earlier tentative report said 13 shares.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Should_I_chase_listing_gains_in_the_Jio_IPO\"><\/span><strong>Should I chase listing gains in the Jio IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Experts say listing gains are not guaranteed and shares can list below the issue price. Weigh your time frame and risk limit before applying.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_do_experts_say_about_the_long-term_value_of_the_Jio_IPO\"><\/span><strong>What do experts say about the long-term value of the Jio IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Experts cite lower debt, a possible valuation benchmark and growth from tariffs, but one report says these are not guaranteed.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Jio_IPO_valuation\"><\/span><strong>What is the Jio IPO valuation?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Reports put equity value at Rs 9.8 lakh crore to Rs 10.3 lakh crore. At the upper band it is about 33 times FY26 EPS by my calculation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_grey_market_premium_for_the_Jio_Platforms_IPO\"><\/span><strong>What is the grey market premium for the Jio Platforms IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Grey market premium (GMP) is an unofficial, unregulated indicator for the Jio Platforms IPO that is not endorsed by SEBI, NSE, or BSE. Investors looking for indicative GMP data can go through other relevant sources, though such figures should never be the sole basis for an investment decision.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_the_Jio_IPO\"><\/span><strong>What are the risks of the Jio IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> A high valuation, competition, regulation, a possible holding company discount for Reliance and dependence on tariff hikes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"When does the Jio IPO open and close?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Jio IPO opens on 21 October 2026 and closes on 23 October, with the anchor book on 19 October and listing expected on 28 October.\"}},{\"@type\":\"Question\",\"name\":\"What is the Jio IPO price band and lot size?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The price band is Rs 1,065 to Rs 1,119 per share and the lot size is 12 shares, or Rs 13,428 at the upper band. 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See what experts say on listing gains versus long-term value, valuation, the shareholder quota and risks.<\/p>\n","protected":false},"author":28,"featured_media":313410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[1383,8353,7893,5351,613],"class_list":["post-313411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-jio-ipo","tag-jio-platforms","tag-listing-gains","tag-mainboard-ipo","tag-reliance-jio"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["313410"],"rank_math_title":["Jio IPO: Listing Gains or Long-Term Value? What to Weigh"],"rank_math_description":["Jio IPO opens on 21 Oct at Rs 1,065 to Rs 1,119. See what experts say on listing gains versus long-term value, valuation, the quota and risks before you apply."],"rank_math_focus_keyword":["Jio IPO"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/reliance-jio-ipo-should-investors-chase-listing-gains-or-focus-on-long-term.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/313411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=313411"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/313411\/revisions"}],"predecessor-version":[{"id":313412,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/313411\/revisions\/313412"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/313410"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=313411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=313411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=313411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}