Now Reading: Jio Platforms IPO: Employee, RIL shareholder quota rules explained
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Jio Platforms IPO: Employee, RIL shareholder quota rules explained
Jio Platforms IPO: Employee, RIL shareholder quota rules explained
Jio Platforms will launch its IPO on 21 October, closing on 23 October, with reserved quotas for employees and Reliance Industries shareholders. Eligible employees can bid up to Rs 5 lakh and get a Rs 54-per-share discount, while shareholders can bid up to Rs 2 lakh but get no discount. The eligibility date for both quotas is 14 October, when Jio Platforms filed its RHP.
A person who is both an employee and a shareholder can file up to three applications: one each under the employee quota, the shareholder quota, and the net issue (retail or NII). Each bid must use a separate form and UPI mandate, and only one bid per category is allowed. Shareholders must have held RIL shares on 14 October, and the applicant must be the first holder in a joint demat account.
Indian Opinion Analysis
The three-bid rule lets a single eligible person apply for up to roughly Rs 8.7 lakh across categories, but only if each bid is strictly in its own quota and the PAN is consistent. The 14 October cut-off means anyone buying RIL shares on 13 October could qualify for the shareholder quota, making last-minute buying possible. Applications will be rejected if a second bid lands in the same category, if a shareholder bid uses a PAN that did not hold RIL shares on the cut-off date, or if the applicant is not the first joint holder.
Source: livemint.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
