New Delhi : The share price of JFSL, a unit of NBFSL, was announced at INR 261.85 per share, which is significantly higher than the brokerage estimates of INR 190 per share. This has surprised everyone who is a part of Reliance Industries (RIL), Mukesh Ambani’s new company.
The market value of Jio Financial Services (JFSL) was assessed to be INR 261.85 per share on Thursday at the conclusion of the special pre-open call auction session on the stock exchanges that came after the NSE. Reliance Industries’ (RIL) share price decreased to INR 2,580 as a result of the demerger, but it increased by 2% when regular trading started at 10 a.m.
More About Reliance Demerger
Earlier in the day, RIL had announced that the acquisition cost for Reliance Strategic Investments Limited, which is being renamed as JFSL, would be 4.68%, valuing the company at INR 133 per share based on Wednesday’s closing price of INR 2,840 on the BSE.
The price fixation of JFSL remained at the top end of all brokerage estimates, which had projected the share price to be between INR 160-190.
“This high price is a reflection of the market’s assessment of Jio Financials’ potential. Comprehensive information after the demerger indicates that JFSL will have a total outstanding share of 635.32 crores and the company’s overall market capitalization will be INR 1.66 lakh crores.”
How was the price of the JFSL share determined?
The market value of the distinct unit was determined during a special pre-open trading session that was held by the BSE and NSE from 9 am to 9:45 am. Normal trading in Nifty 50 equities was prohibited till 10 a.m. as part of the exercise.
All RIL shareholders will be qualified to receive JFSL shares in a 1:1 ratio at the close of business on July 19. For instance, you will acquire 100 JFSL shares if you currently own 100 RIL shares. You won’t be able to trade JFSL shares though until the shares are listed on stock exchanges.
The anticipated listing date is during the following two to three months, and it is likely to be announced during Reliance’s upcoming AGM.
Impact of RIL’s merger on Nifty: JFSL will be a significant player in the key industries.
The financial market is buzzing over this news, and investors are anxiously anticipating JFSL’s debut. The potential development and influence of JFSL in the financial services industry are highly anticipated given Mukesh Ambani’s reputation and business acumen.
