Jio Financial Services: Reliance Industries shares rocket from demerger, Jio Financial’s share price fixed
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Jio Financial Services: Demerger of Mukesh Ambani’s Reliance Industries (Reliance Industries Demerger) Done. For this, a pre-open session was organized from 9 am to 10 am. At the end of the pre-open session of the company NSE At Jio Financial Services (jfsl)’s shares stood at Rs.273 per share. However, earlier it was being estimated that the share price of Jio Financial Services could be between Rs 160 to Rs 190 per share. However, the stock price went far ahead of expectations. After the demerger, the shares of Reliance Industries have also seen a lot of growth. There was lethargy in the global market since morning. Its effect was seen on the Indian market. But, shortly after the market opened, there was a jump in the stock of Reliance Industries. The company’s stock reached 2,619 with a gain of 39 points.
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.
Why was the pre-opening session done?
on Thursday NSE The pre-opening session was organized by The objective of this session was to determine the value of shares of Jio Financial Services, the new financial arm of Reliance Industries. Even after demerger from Reliance, Jio Financial Services Limited will be included in Nifty 50, Nifty 100, Nifty 200, Nifty 500 along with other 18 indices. Reliance has divested its financial services venture into Reliance Strategic Investments Limited. After this its name has been changed to Jio Financial Services Limited.
How did the price come out
In the pre-opening session organized to separate Jio Financial Services Limited from Reliance Strategic Investments Limited, the rate of Jio Financial Services has been fixed on the basis of the share of Reliance Strategic Investments Limited. In the pre-open session, the share price of Reliance Industries was at Rs 2580 per share. The previous closing of Reliance Industries on NSE was at Rs 2841. Based on this, the share price of Jio Financial was fixed at Rs 261 per share on NSE. Means ₹ 2841-₹ 2580 = 261 rupees. After this, at the end of the session, the share price reached Rs 273 during trading.
share one get one free
The free policy is being used by the company once again in the market. In fact, the company will give one share of the new firm free of cost to each shareholder of Reliance on one share of the parent company. In such a situation, people in the market are eagerly waiting to buy the shares of the company. Let us tell you that right now Jio Financial Services Limited will give loans to the consumers on the basis of their analysis after assessing their assets. Later, the company plans to foray into insurance, payments, digital broking and asset management.
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 has been appointed as Non-Executive Director in the company. Apart from this, Anshuman Thakur, Executive Officer of Reliance has also been made Non-Executive Director.
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