Monday, July 22
RIL Jio demerger

Reliance-JFSL demerger, the share price of Jio Financial Services is scheduled to be listed at ₹273 per share on NSE

In the special pre-open session on the National Stock Exchange (NSE), the share price of Jio Financial Services settled down at ₹2,580 apiece. However, on the Bombay Stock Exchange (BSE), it settled at ₹2,589 per share during the same session.

In the Reliance-JFSL demerger, eligible shareholders of Reliance Industries Ltd will receive one Jio Financial Services Ltd share for each RIL share they hold.

The Jio Financial Services share price is set to list at ₹273 per share on the National Stock Exchange (NSE). This calculation was derived after the Reliance share price settled at ₹2,580 per share on the NSE in a special pre-open session on Thursday. The closing price of RIL stock on the NSE was ₹2,853 apiece, resulting in the JFSL share value of ₹273 (₹2,853 – ₹2,580).

Sumeet Bagadia, Executive Director at Choice Broking, commented that the listing of Jio Financial Services shares is strong, considering the implied value of the ex-demerged entity at ₹2,707 and that of Reliance Strategic Investments Limited (RSIL) at ₹133, based on RIL’s last closing price.

With the inclusion of Jio Financial Services shares, the Nifty will now have 51 shares, and the Sensex will have 31 shares in its stock list. The demerged entity will also be a part of the Nifty 100, Nifty 200, Nifty 500 indices, and other sectoral indices.

Before the JFSL demerger, the RIL board declared that the cost of acquisition for both Reliance Industries and Jio Financial Services Ltd would be 95.32 per cent for RIL and the remaining 4.68 per cent for Reliance Strategic Investments Limited (RSIL) or Jio Financial Services Ltd (JFSL).

Earlier this week, the Bombay Stock Exchange (BSE) announced that Jio Financial Services shares would be added to 18 of the S&P BSE indices, including the S&P BSE Sensex, starting July 20 for a three-day period due to Reliance Industries’ participation in the special pre-open session.