October 13 Deadline Set to Buy RIL Shares for Jio IPO Shareholder Quota
· Business · Economic Times, LiveMint
Reliance Industries shareholders needed to purchase shares by October 13 to qualify for the Rs 2,500 crore shareholder quota in Jio Platforms' upcoming mega IPO. Although the company fixed October 14 as the official eligibility cut-off date, India's T+1 stock settlement cycle meant that shares bought on October 14 would settle too late. Investors who bought shares on October 14 or later miss out on the dedicated shareholder portion, though they can still apply through regular IPO categories. Jio Platforms filed its red herring prospectus on October 14, confirming the cut-off details as the IPO prepares to open on October 21 with a price band of Rs 1,065 to Rs 1,119.
Why it matters
Retail investors holding Reliance Industries shares needed to meet the October 13 purchase deadline to secure eligibility for the dedicated Rs 2,500 crore Jio Platforms IPO quota, while late buyers must compete in the general categories.
Read the original report — Economic Times
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