Reliance-JFSL demerger: Jio Financial Services share price to list at ₹273 per share on NSE

 Reliance-JFSL demerger: Jio Financial Services share price to list at ₹273 per share on NSE

Reliance-JFSL Split:

The Jio Financial Services share price lists at ₹273 per share on the National Stock Exchange (NSE). The figure came after Reliance's share price settled at ₹2,580 per share on the NSE in Thursday's special pre-open session, as RIL shares ended at ₹2,853 apiece on the NSE (₹2,853 - ₹2,580). Reliance's share price on BSE settled at ₹2,589 per share in the special pre-opening session.

As of today, Nifty has 51 stocks while Sensex has 31 stocks in its stock list and the latest entrant in the major benchmark indices is Jio Financial Services shares. A split component is included in the Nifty 100, Nifty 200 and Nifty 500 indices and other sector indices.

Speaking on the price list of Jio Financial Services shares after the acquisition cost, Sumeet Bagadia, Executive Director, Choice Broking said, “It is a strong list for JFSL shares as as per the last closing price of RIL on NSE at ₹ 2,853, its implied value ex-demerged unit is ₹ 2,707 and RSIL is ₹ 133. is."

RIL-JFSL split: Cost of acquisition details

Ahead of the JFSL demerger, RIL had already announced acquisition costs for both Reliance Industries and JFSL. RIL's board announced that the acquisition cost of Reliance and Jio Financial Services Ltd is 95.32 per cent to RIL and the remaining 4.68 per cent to Reliance Strategic Investments Ltd or Jio Financial Services Ltd or JFSL.

Earlier this week, the Bombay Stock Exchange (BSE) had announced that Jio Financial Services shares will be included in 18 of the S&P BSE indices, including the S&P BSE Sensex, for a three-day period from July 20 – as Reliance Industries is part of a special pre-opening session.

Shares of Reliance Industries (RIL) will not be available for normal trading for the first 45 minutes on Thursday, July 20 as a result of the demerger of its financial services division. RIL shares will go through a special pre-open call auction from 9:00 am to 10:00 am tomorrow on the demerger of Jio Financial Services Limited (JFSL). During this session, one can only place, cancel or modify orders.

Jio Financial Services will start trading as part of the NSE Nifty 50 on July 20. The demerged unit will be included in the Nifty 100, Nifty 200 and Nifty 500 indices and other sectoral indices, the National Stock Exchange said. July 17. Earlier this week, NSE updated the complete list of indices that will include JFSL from tomorrow.

Reliance Industries will declare its April-June quarter results for fiscal 2023-24 on Friday, July 21. Ahead of the results, RIL announced today that it will consider paying a dividend to its investors at its board meeting on July 21, along with the announcement of quarterly results.