Crypto exchange Bitget has listed a perpetual futures contract tied to the expected valuation of Jio Platforms ahead of the company's initial public offering, Mint reported on 18 October 2026. The contract, called JIOUSDT, allows traders to take positions on Jio Platforms' valuation without holding any of its shares, according to the report.
What the contract is
Mint described JIOUSDT as a pre-IPO perpetual futures contract, a speculative instrument linked to the company's anticipated market valuation. Citing Bitget's website, the report said the contract can be traded at any time, all year, with settlement in USDT.
The contract offers leverage of up to 20x, and funding fees are settled every eight hours, Mint reported. Perpetual futures have no expiry date. Instead, longs and shorts make periodic funding payments to each other, which the report said helps keep prices in line with the underlying market.
Trading since launch
According to Mint, JIOUSDT launched on Wednesday, 14 October, and has traded continuously since then, with its price hovering near $11.9. The report said traders can use the contract to position themselves on market expectations of Jio's valuation, including moves linked to the IPO, subscription demand and the grey market premium (GMP).
Grey market premium
Mint reported that the Jio IPO GMP stood at ₹250 as of 7 pm on Sunday, 18 October, citing media reports, and that this was higher than the level recorded the previous day. On the basis of that GMP, the report said the issue is expected to list at ₹1369, which it described as the sum of the latest GMP and the upper price band. It added that, considering the latest GMP, the IPO is expected to list with a 22.34% gain. These figures are expectations based on grey market activity, as reported by Mint, and not official listing prices.
IPO timetable
The Reliance Industries-led Jio Platforms IPO is set to open for subscription on Wednesday, 21 October 2026, and close on Friday, 23 October, according to Mint. The report said share allotment is likely to be finalised on Monday, 26 October, and listing is expected on 28 October.
| Event | Date (as reported) |
|---|---|
| Subscription opens | 21 October 2026 |
| Subscription closes | 23 October |
| Allotment (likely) | 26 October |
| Listing (expected) | 28 October |
About the company
Mint described Jio Platforms as a technology platform that combines pan-India digital connectivity with digital services. Its subsidiary Reliance Jio Infocomm Limited had a customer base of 533.3 million as of 30 June 2026, the report said.