Shares of Jio Financial are priced at Rs. 265 on the BSE and Rs. 262 on the NSE.

In Uncategorized
August 21, 2023

Reliance Industries Ltd. (RIL) subsidiary Jio Financial Services Ltd. (JFSL) shares demerged on Monday and were listed on the BSE for Rs. 265 per share, up from Rs. 261.85 at the time of discovery.

The NSE’s share price was Rs. 262 per unit.
At 10:15 am on the BSE, JFSL shares were selling for Rs 251.75 each, down 5%. It fluctuated between a high of Rs 278.2 and a low of Rs 251.75 during the early morning trading.
Following Reliance’s spinoff of JFS on July 20, the stock price was set during a special trading session at a substantially higher-than-expected Rs 261.85, valuing the firm at around Rs 1.66 lakh crore ($20 billion).

It surpasses giants of the industry like Tata Steel, Coal India, Indian Oil, and SBI Life with this valuation, placing it as the 32nd most valuable company in the world and the second-largest NBFC in India, after Bajaj Finance.
In direct competition with Paytm and Bajaj Finance, among others, Reliance will rank as the fifth-largest financier after the separation, strengthening its consumer operations.

According to a circular released by BSE last week, shares of JFSL would be permitted for trading on the exchange under the T Group of Securities. The stock will be in the Trade-for-Trade area for 10 trading days.

It is not possible to take stock delivery on the same day since shares in the Trade-to-Trade section of the stock market are only exchanged on a delivery basis. This is done to prevent price and volatility manipulation. The T Group represents securities that are resolved trade for trade as a monitoring tool.

JFSL distributed 635.32 crore equity shares with a face value of Rs 10 to RIL owners as of the record date of July 20 on August 12. 35.06 lakh people were RIL stockholders as of June 30.