Jio IPO allotment due on Monday: how to check your status on KFin, BSE and NSE, when blocked money is released, and when the shares list

Today, Friday 23 October, is the last chance to bid in the IPO of Jio Platforms, the Reliance group’s digital and telecom company. Under the red herring prospectus (RHP), both bids and UPI mandate approvals are accepted until 7 pm. After that, the registrar, KFin Technologies, and NSE, the designated stock exchange for this issue, work out who gets how many shares. The RHP’s tentative timetable puts the basis of allotment on Monday, 26 October, and listing on Wednesday, 28 October.

The next five days, date by date

• Friday, 23 October: bids and UPI mandates until 7 pm. If too many bids arrive in the last hours, some may not get uploaded, so the RHP advises bidding before noon.
• Monday, 26 October: basis of allotment finalised. SEBI’s timeline requires the exchange to approve it before 9 pm that day.
• Tuesday, 27 October: blocked money released for those who get no shares, the amount debited for those who do, and shares credited to their demat accounts. The allotment notice goes up on the websites of the company, the lead managers and the registrar before 9 pm.
• Wednesday, 28 October: trading begins on BSE and NSE.
• Apart from the opening and closing dates, the RHP calls these dates tentative; any change will be announced by the exchanges and the company.

Demand so far (NSE, Thursday 22 October, 6.57 pm)

• Overall: 5.57 times; bids for about 110 crore shares against roughly 19.75 crore on offer
• Qualified institutional buyers (QIBs): 13.29 times
• Non-institutional investors (NIIs): 5.97 times; bids above ₹10 lakh 6.76 times, bids of ₹2 lakh to ₹10 lakh 4.38 times
• Retail investors (up to ₹2 lakh): 1.54 times; bids for about 13.09 crore shares against roughly 8.50 crore
• Reliance Industries shareholders’ quota: 4.04 times
• Employees’ quota: 2.10 times

By the close of day one, overall demand stood at 3.16 times, Business Standard reported. The final figures, including today’s bids, will appear on NSE’s issue information page once bidding closes. Note that these numbers count shares bid for; they do not tell you how many people applied.

How shares are allotted when demand is high

Under SEBI’s ICDR rules and the RHP, each category is handled differently. The company and the book running lead managers fix the final issue price within the band after bidding closes; bids below that price are left out of the allotment.

• Retail: as long as shares last, every valid applicant gets at least one lot of 12 shares. NSE’s figures show 8,50,37,327 shares in this category, or about 70.86 lakh lots.
• If there are fewer valid retail applicants than that, everyone gets one lot and the remaining shares go, in proportion, to those who asked for more than one lot.
• If there are more, a computerised draw of lots decides who gets the single lot. The draw is among applications, so bidding for more lots in the retail category does not improve your chance of getting that first lot.
• Non-institutional: each successful applicant gets at least the minimum application size (just above ₹2 lakh), subject to availability, and the rest in proportion. One-third of this category is set aside for bids of ₹2 lakh to ₹10 lakh and two-thirds for bids above ₹10 lakh.
• Reliance shareholders and employees: proportionate allotment, subject to a minimum of one lot. Because the employee quota is oversubscribed, each employee bid will be counted only up to ₹2 lakh (after the discount).
• Institutions: proportionate allotment, with 5 per cent of the category reserved for mutual funds.

Did you get shares? Check on the registrar KFin’s site

Your status should show up once the basis of allotment is final, so from Monday night or on Tuesday. Keep one of these handy: your PAN, the application number, or your demat account’s DP ID and client ID.

• Open ipostatus.kfintech.com, KFin Technologies’ allotment status page.
• Pick Jio Platforms Limited from the ‘Select IPO’ list.
• Choose one way to search: application number (Application No), demat account (DPID Client ID; select NSDL or CDSL) or PAN.
• Enter the details and press ‘Submit’. The page shows how many shares you applied for and how many you got.

On the BSE site

• Open bseindia.com/investors/appli_check.aspx, BSE’s application status page.
• Under ‘Issue Type’ choose Equity, then pick Jio Platforms under ‘Issue Name’.
• Enter your application number or PAN and press ‘Search’.

On the NSE site

• Open the ‘Verify IPO Bid/Allotment Details’ page at nseindia.com/invest/check-trades-bids-verify-ipo-bids.
• In the ‘Equity & SME IPO bid details’ section, select the symbol JPL.
• Enter your PAN or application number. NSE says the page shows allotment details supplied by the registrar, and the data stay up for 10 days after the issue closes.

What happens to your money and the UPI mandate

• The bid amount is never debited when you apply; it is only blocked. A ‘refund’ in this IPO therefore just means the block is lifted.
• If you get no shares, the whole amount is released and the UPI mandate lapses. If you do, only the cost of the allotted shares at the final issue price is debited and the rest is released.
• Under SEBI’s timeline, money blocked through UPI should be released before 4 pm on Tuesday, and shares should reach demat accounts before 6 pm the same day.
• If unblocking takes more than two working days from the close of bidding, the RHP says the intermediary responsible must pay ₹100 a day or 15 per cent a year, whichever is higher.
• Complaints about allotment, money or shares not credited go to the registrar: jioplatforms.ipo@kfintech.com, phone +91 40 6716 2222, or toll-free 1800 309 4001.

What happens on listing day

A new stock does not start trading at the usual 9.15 am. Under an NSE circular, listing day begins with a special pre-open session that sets the opening price. The exchanges will issue the formal trading notice on Tuesday evening.

• 9 am to 9.45 am: buy and sell orders can be placed, changed or cancelled. The system shuts this window at a random moment in its last ten minutes, between the 35th and 45th minute.
• 9.45 am to 9.55 am: orders are matched and the opening price is fixed.
• 9.55 am to 10 am: a short buffer before the normal market.
• From 10 am: regular trading, as for any other stock.

Please note

This article is for information only and is not investment advice. Strong demand does not stop a stock from listing below its issue price, and investing in shares carries the risk of losing money. Read the RHP or consult a SEBI-registered adviser before you decide.

Sources: NSE (Jio Platforms issue information and category-wise bids); SEBI (red herring prospectus); KFin Technologies (allotment status); BSE (application status); NSE (verify IPO bid/allotment details); NSE circular (listing-day pre-open session); Business Standard