IPO GMP Today (24 Oct): Jio at 22% After Record ₹7.4 Lakh Crore Demand
Saturday morning's IPO GMP snapshot is dominated by Jio Platforms: the ₹30,213 crore IPO closed with a record ₹7.4 lakh crore in total demand and a 22.19x subscription, while grey market trackers quote a ₹238–260 premium (~21–24%) ahead of Monday's allotment and Wednesday's listing. Tonbo Imaging, meanwhile, delivered one of the year's biggest mainboard debuts — a 66% pop at ₹1,160. Here's the full picture.
Note: Grey market premiums (GMP) are unofficial, unregulated market estimates — not official figures. They change quickly and should never be the basis for an investment decision.
Today's GMP Snapshot (24 Oct 2026)
| IPO | GMP (₹, unofficial) | Est. gain % | Status |
|---|---|---|---|
| Jio Platforms | ₹238–260 | ~21–24% | Allotment 26 Oct; lists 28 Oct |
| BLS Polymers (opens 27 Oct) | ₹24–38 | ~16–25% | Upcoming |
| SFC Environmental (opens 27 Oct) | ~₹21 | ~6.4% | Upcoming |
| EAAA India Alternatives (opens 26 Oct) | ~₹0–121 (mixed) | 0–7% | Upcoming |
| Paras Healthcare | ~₹8–10 | ~1.2% | Allotment 26 Oct; lists 28 Oct |
| Core4 Engineers (open, SME) | ₹0 | 0% | Day 1 at 0.08x; closes 27 Oct |
GMP range reflects quotes across major trackers on the morning of 24 Oct; individual dealers vary.
Jio Platforms: Records Everywhere, GMP Steady at ~22%
Jio's final numbers are in, and they are historic. The ₹30,213 crore issue — India's largest-ever IPO — closed 23 October at 22.19x overall subscription:
- QIB: 70.55x | NII: 14x | Retail: 2.72x
- Reliance shareholders: 7.60x | Employees: 2.93x
- Applications: 1.35–1.39 crore — the first IPO globally to cross 1 crore applications (previous best: Waaree Energies at 97 lakh)
- Total demand: ~₹7.4 lakh crore including the ₹2.5 lakh crore anchor book — roughly 24x the issue size
Weekend GMP quotes sit at ₹238–260 on the ₹1,119 upper band, implying an indicative listing price of ₹1,354–1,379 (~21–24%). Notably, the premium has stayed in this band all week — it hasn't expanded despite the record subscription, which often happens when grey-market liquidity can't absorb institutional-size hedging. For the full category-wise breakdown and allotment odds, see our Jio final-subscription report.
Paras Healthcare: Late QIB Demand Lifts Close to ~2.23x
One correction to note: Paras Healthcare's IPO was reported undersubscribed through midday on 23 October (0.41x on tracker snapshots), but late institutional demand pushed the final tally to ~2.23x, per the Financial Express. The ₹1,450 crore issue (₹500 crore fresh + ₹950 crore OFS) will be finalised alongside Jio on 26 October and list 28 October. Its grey market quote has cooled to roughly ₹8–10 (~1.2%) — a flat-ish listing is priced in.
23 October Listing Day Scorecard: Tonbo Steals the Show
| IPO | Issue price | Listing price | Close |
|---|---|---|---|
| Tonbo Imaging | ₹700 | ₹1,160 NSE (+65.71%) | ₹1,133.80 (+62%) |
| Sahajanand Medical | ₹344 | ₹371.15 (+7.89%) | +~8% |
| Bonfiglioli Transmissions | ₹586 | ₹586 (flat) | Flat |
| Zetwerk | ₹151 | ₹159 (+5.3%) | ₹138.25 (−8.4%, below issue) |
| Shellz India (SME) | ₹179 | ₹179 (flat) | Flat |
Tonbo's 135.90x subscription (55.2 lakh applications) converted into a textbook premium listing — the grey market's ₹450–516 call was nearly exact. But the session was a lesson in GMP accuracy limits: Bonfiglioli's ₹178 (+30%) pre-listing GMP never materialised — it listed dead flat. And Zetwerk's ₹30 grey premium collapsed into an 8% close below the issue price. GMP is a sentiment gauge, not a guarantee.
Earlier in the week: Fusion CX listed at ₹305 (+5.54%) on 22 October and Ravita flat at ₹112, while HD Fire Protect debuted at ₹335 (+23.6%) on 21 October before profit-booking took it to ~₹302–305.
Core4 Engineers: Soft Start at 0.08x on Day 1
The ₹54.82 crore BSE SME IPO of Core4 Engineers opened 23 October to a tepid response — 0.08x by end of Day 1 (individual investors 0.14x, NII 0.05x, QIB zero). The grey market is quoting no premium (₹0). It closes 27 October and lists 30 October. Full details in our Core4 Engineers deep-dive.
Next Week's Pipeline: 5 IPOs Open from Monday
- EAAA India Alternatives — opens 26 Oct (₹1,585–1,665, 9-share lot; our full review)
- BLS Polymers — opens 27 Oct (₹142–150; GMP ₹24–38; review)
- SFC Environmental — opens 27 Oct (₹313–330; GMP ~₹21)
- Wiscon Industries (SME) — opens 27 Oct (₹194–204)
- M.K. Sons Fine Jewels — opens 28 Oct (₹153–162); Carver Roboweld (SME) — 28 Oct; Bombay Coated — 29 Oct (GMP ~₹5)
Key Dates Ahead
| Date | Event |
|---|---|
| 26 Oct (Mon) | Jio & Paras Healthcare allotment; EAAA opens |
| 27 Oct (Tue) | Refunds/credit for Jio & Paras; BLS Polymers, SFC, Wiscon open; Core4 closes |
| 28 Oct (Wed) | Jio & Paras list; M.K. Sons, Carver Roboweld open; EAAA closes |
| 30 Oct (Fri) | Core4 Engineers lists (BSE SME) |
| 3 Nov | BLS Polymers & SFC Environmental list (tentative) |
FAQs
What is Jio's GMP today (24 Oct 2026)?
Tracker quotes put Jio Platforms' grey market premium at ₹238–260 (~21–24% over the ₹1,119 upper band), implying an indicative listing price of ₹1,354–1,379. These are unofficial market estimates and can change quickly.
When is Jio's IPO allotment?
The basis of allotment will be finalised on Monday, 26 October 2026, with refunds and share credits on 27 October and listing on 28 October on BSE and NSE.
How did Tonbo Imaging perform on listing day?
Tonbo Imaging listed 23 October at ₹1,160 on NSE (+65.71%) and ₹1,162 on BSE (+66%), and closed at ₹1,133.80 (+62%) — closely matching its ₹450–516 grey market premium.
Is the grey market premium official?
No. GMP is an unregulated, unofficial indicator of market sentiment. This week's listings showed its limits: Bonfiglioli's ₹178 GMP never materialised, and Zetwerk closed below its issue price.
Conclusion
The weekend belongs to Jio: a record ₹7.4 lakh crore of demand, 22.19x subscription, 1.39 crore applications — and a grey market that, interestingly, refuses to budge past ~₹260. Whether that conservatism is justified gets tested on Wednesday, 28 October, when India's largest-ever IPO meets the secondary market. Monday's allotment day will be the next data point; we'll be watching the refund numbers and the first Jio GMP quotes after the basis is out.