Jio Financial Listed At 262 Per Share, Flat Compared With Discovered Price

Jio Financial Services has been listed on the bourse and begun trading at Rs 262 per share, almost the same as its discovered price of Rs 261.85 apiece. Current market price of Jio Financial Services Ltd on BSE at 10:04 am is 255.00 apiece with a decline of 3.77% at 10:05 am.

Jio Financial Services opened at Rs 265.00 apiece, touched day's high of Rs 278.20 apiece, and day's low of Rs 253.30 apiece on BSE at the time of writing the story.
Jio Financial Services has a market capitalisation of Rs 1,59,943.93 crore. The Stock will have a 5% circuit filter for the next 10 trading sessions.

Jio Financial Services Chairman KV Kamath said, "Jio Financial will be an important player in India's financial services sector. JFS will seek to optimise all that India provides."

Jio Financial Services (JFS), which was demerged from Reliance Industries earlier last month, was scheduled to be listed on Monday (August 21, 2023) on the bourses. It is interesting to note that Jio Financial will also remain in the indices of FTSE Russell and scheduled to be added to MSCI Global Standard Index effectively from August 23, 2023.

FTSE has reportedly reversed the decision to exclude Jio Financial from its indices from August 22 as it was claimed earlier.

Before the listing, JFSL's shares were reportedly trading at approximately Rs 300 per share in the grey market, higher then pre-listing price of Rs 261.85 apiece.

It is important to note that this is the first Reliance company listing in 2 decades.

Earlier Reliance's billionaire chairman Mukesh Ambani in his message to shareholders in the annual report for the financial year that ended March 31 said, "The new entity is expected to unlock value for shareholders and give them an opportunity to be a part of a new growth platform."

RIL is scheduled to hold its annual shareholders' meeting on August 28, 2023.