RIL-Jio Financial Services Demerger Update JSFL Stocks Valued at Rs 261.85 A Piece; Strong listing of Mukesh Ambani’s company, Jio Financial on the stock market; Investors’ silver!
Note that Jio Financial Services will be listed on the stock market after some time but the date has not been announced yet. Meanwhile, JFSL’s demerger is also important for Reliance Industries’ shareholders and the Indian stock market as some things are about to happen for the first time. For example, the National Stock Exchange has organized a special pre-open session on July 20 and for the first time, separate units have been included in the Nifty and many other indices.
What was the purpose of this session…
The special pre-open session of the National Stock Exchange was aimed at determining the share price of Jio Financial Services, the independent financial services arm of Reliance Industries. Through this an attempt was made to keep the company in various indices of NSE even after the merger. Meanwhile, under this demerger plan, the shareholders of Reliance Industries will be allotted one share of Jio Financial Services i.e. 1:1 for every share of Reliance Industries.
Reliance Jio Demerger: Investors should be aware of the Reliance Jio demerger
How JFSL price is determined
Jio Financial was priced based on the share price of Reliance Industries in the pre-opening session. While Reliance Industries’ share price was Rs 2,580 per share in the pre-open session, the stock closed at Rs 2,841 last session on the NSE. Thus, the share price of Jio Financial settled at Rs 261 per share on the NSE which was seen in the pre-open session but during the trading the share prices rose to Rs. 273 crossed the stage.
