Jio Financial Services Listing: Jio Financial’s share listed at Rs 265, 36 lakh investors disappointed, know the reason
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Jio Financial Services Listing: Indian industrialist Mukesh Ambani (Mukesh Ambani)’s company Reliance Industries (Reliance IndustriesJio Financial Services Limited, recently demerged from Jio, was listed in the market today. Its price was listed at Rs 265 on BSE Sensex. However, the stock declined to Rs 252 in intraday. The pre-listing price of this stock was fixed at Rs 261.85 on July 20. second largest in the market NBFC Even after debuting as a company, about 36 lakh investors have faced disappointment. It is being told that Jio Financial’s share was trading with a premium of Rs 73 in the gray market. That is, the market was expecting it to be listed around Rs.335. Investors have faced disappointment due to the listing at a lower price than expected.
The demerger took place on 20 July
On July 20, Reliance Industries Limited’s financial services business ‘Strategic Investment Limited’ was demerged. For this, a pro-opening session program was organized in NSE. In this, the stock price of Jio Financial Services was fixed at Rs 261.85. After the demerger, shareholders of Reliance Industries Limited got one share of Jio Financial Services for every one share held. Meanwhile, the company announced the formation of a joint company with BlackRock with a 50-50 percent stake in the market. On the corporate side, it has been reported in the market that both ZFS and BlackRock will make an initial investment of $150 million each in the new venture. Blackrock’s Asia-Pacific head Rachel Lord said that Jio Blackrock will use the combined strength and expansion of both companies to serve millions of investors in India. Hitesh Sethia, President and CEO of JFS, terming the partnership with BlackRock, one of the world’s prestigious asset management companies, as ‘exciting’, said that Jio BlackRock will prove to be truly transformative. Investors are expected to benefit greatly from the merger of both the companies.
Isha Ambani will manage the company
Jio Financial Services Limited Company has been formed after the change in Reliance Strategic Investments Limited. Mukesh Ambani’s daughter Isha Ambani will run this company. Along with him, former Comptroller and Auditor General (CAG) Rajiv Mehrishi has also been inducted on the board of directors of the company. He has been made an independent director for five years. Isha Ambani in the company Non-Executive Director has been appointed as Apart from this, Anshuman Thakur, Executive Officer of Reliance has also been made Non-Executive Director.
Reliance Industries at 52-week high, market capitalization crosses Rs 19 lakh crore
Reliance Industries’ stock reached its 52-week high during trading on Tuesday. With this, the market capitalization (market cap) of the company crossed the Rs 19 lakh crore mark. At the end of trading on the BSE, the company’s stock closed at Rs 2,822.40, up 0.93 per cent. It had also touched a 52-week high of Rs 2,838, up 1.48 per cent, during the day. The company’s stock closed at Rs 2,820.45, up 0.84 per cent, on the National Stock Exchange. It had touched a 52-week high of Rs 2,837.45, up 1.45 per cent, during the day. The company’s market capitalization rose by Rs 17,456.07 crore to Rs 19,09,526.60 crore.
The cost of acquisition of RIL shares was 95.32 per cent.
Reliance Industries Before the demerger, the shareholders were informed that the cost of acquisition of RIL shares post merger is 95.32 per cent and the cost of acquisition of RSIL shares is 4.68 per cent. The company informed during its exchange filing that it is advised to apportion the pre-demerger cost of acquisition of equity shares in the following manner. RSIL stands for Reliance Strategic Investments Limited, has been demerged from RIL from today. now its name Jio Financial Services Has been done. With the de-merger, Jio Financial Services has become India’s fifth largest company in this sector.
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