Jio Financial Services Demerger: Jio Financial Services, a financial company spun off from Reliance Industries, is valued at Rs. 261.85 has been fixed. Reliance Industries shares saw special trading on Thursday, to gauge the share price of Jio Financial Services.
Shares of Mukesh Ambani’s Reliance Industries, the country’s largest private company, fell 9.21 percent in its special trading session. At 10 am in the stock market, the shares of Reliance Industries were Rs. 2580 per share has been fixed. Along with this, the share price of Jio Financial Services, a demerged company from Reliance Industries, has also been known. The price of Jio Financial Services has been settled at Rs 261.85 per share in the special trading session.
Special trading was organized on stock exchanges from 9 am to 10 am to gauge the share price of Jio Financial Services from the demerger of Reliance Industries, with Jio Fin stock on the National Stock Exchange trading at Rs. 273 was settled. NSE). While the price on BSE is Rs. was settled at 261.85. After the demerger of Reliance Industries, investors will get Jio Fin shares for every share of Reliance.
After this special trading session, Reliance shares on NSE traded at Rs. 2580 while on BSE it was trading at Rs. 2589 was settled.
Now there will be formal listing of shares on stock exchanges. It is believed that the AGM meeting of Reliance Industries will be held in which the chairman of the company Mukesh Ambani will present the outline of the listing of shares of Jio Financial Services to the shareholders. On Friday, July 21, Reliance Industries will announce its results for the first quarter of the current financial year.
The price discovered by Jio Financial Services is higher than the estimates of all brokerage houses. Most of the brokerage houses quoted Jio Financial Services stock price in the range of Rs 120 to Rs 190. But Jio Financial’s shares beat all brokerage house estimates in special trading on Price Discovery.
Now it is expected that whenever Jio Financial gets listed on the stock exchange, it will be above the Discover price level. This is going to be a huge benefit to the investors of Reliance Industries.
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