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Jio Financial Share Listing: Mukesh Ambani’s second company Jio Financial Services is all set for listing in the stock market. This company, separated from Reliance Industries, will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today i.e. August 21. This means that you can now buy and sell shares of Jio Financial just like shares of other companies.
Share price: Last month, the company was demerged from Reliance Industries under the de-merger process and its share price was Rs. 261.85 was extracted. For the first 10 days, Jio Financial Services will trade in the T-Group segment. This means that intra-day trading in the shares will not be possible. Also, there will be an upper and lower circuit limit of 5%. Through this exercise will be done to prevent stock fluctuations.
For Reliance Investors: Reliance Industries investors were credited with shares in their demat accounts at a ratio of 1:1. This means that if you own even one share of Reliance Industries and held till the record date i.e. July 20, the portfolio will automatically include one share of Jio Financial Services.
Let us know that Reliance Industries had announced this de-merger last year. With the de-merger, Jio Financial Services has become India’s fifth largest company in the sector. Recently Jio Financial announced a 50:50 JV entity with BlackRock to enter the mutual fund industry.