Jio Financial Services demerger: float at Rs.261.85 on NSE.

Jio Financial Services stock price at Rs 261.85; RIL stock price increases 1.5% as trading begins

Sumeet Bagadia, Choice Broking’s Executive Director, said, “This is a strong listing of JFSL shares because as per RIL’s last closing price of 2,853 on NSE, the implied value of the ex-demerged entity is 2,707 and that of RSIL is 133.”

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Jio Financial Services shares will join Nifty and Sensex today.

The Nifty 100, 200, and 500 indices and other sectoral indices will incorporate the demerged entity.

Jio Financial Services demerger: Acquisition costs

Before JFSL demerger, RIL disclosed acquisition costs for both Reliance Industries and JFSL. The RIL board stated that the cost of acquiring Reliance and Jio Financial Ltd will be 95.32 percent for RIL and 4.68 percent for Reliance Strategic Investments Limited or JFSL.

Jio Financial shares will be part of 18 S&P BSE indices, including the Sensex, beginning on 20 July for three days due to Reliance Industries’ participation in the special pre-open session.

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