Jio Financial demerger: Reliance share price settled down at ₹2,589 per share

On Thursday, trading in Reliance Industries’ stock began in a special session intended to determine the share price of the company’s demerged financial services unit, Jio Financial Services.

Jio Financial Services’ share price would be listed at 273 rupees per share on the National Stock Exchange (NSE). This calculation was made after the Reliance share price on the NSE settled at 2,580 rupees per share in a pre-opening special session on Thursday, after the RIL stock had closed at 2,853 rupees per share. In a special pre-opening session on the BSE, Reliance’s share price decreased to 2,589 rupees per share.

Today, Reliance Industries informed shareholders that the post-demerger acquisition cost of RIL and RSIL shares is 95.32% and 4.68%, respectively.

RIL advised in an exchange filing, investors to allocate their pre-demerger investment in equity shares of the company in this manner.

Also added, “This communication is for the benefit of the shareholders and the company takes no express or implied liability in relation to this guidance”.

Reliance Strategic Investments Limited will separate from Reliance Industries on July 20 and will be renamed as Jio Financial Services (JFS) and listed on exchanges.

Jio Financial Services shares will be the newest addition to the major benchmark indices as of today, when Nifty will have 51 shares and Sensex will have 31 shares in its stock list. The Nifty 100, Nifty 200, and Nifty 500 indices, as well as other sectoral indices, will all include the demerged entity.