Jio Financial Services lists on BSE with marginal gain

Shares of Jio Financial Services, the demerged financial services unit of Reliance Industries, listed on the bourses on Monday (August 21), with the shares rising marginally on BSE.

At the BSE, it began the trade at ₹265, up 1.20 per cent, against ₹261.85, the price fixed at a special price discovery session held last month. It later jumped 6.24 per cent to ₹278.20.

Shares of the company listed at ₹262 on the NSE and further climbed to ₹262.05.

The company commanded a market valuation of ₹1,59,943.93 crore in morning deals.

Jio Financial Services Ltd (JFSL) demerged from Reliance last month.

In a special price discovery session held on the record date last month, the stock's pre-listing price came out to be ₹261.85 per share.

"Trading members of the exchange are hereby informed that effective from Monday, August 21, 2023, the equity shares of Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited) shall be listed and admitted to dealings on the exchange in the list of T Group of securities," BSE said in a notice on Friday.

Reliance Industries demerged its financial services undertaking into RSIL (Reliance Strategic Investments Ltd), which was renamed as JFSL (Jio Financial Services Ltd). Shareholders got one JFSL share for each Reliance share they held.

In the equity market, the 30-share BSE Sensex climbed 139.57 points to 65,088.23 in morning trade. The NSE Nifty gained 41.75 points to 19,351.90. 

(With agency inputs)