Jio financial Financial News

Jio Financial Services Limited and BlackRock Wednesday announced an agreement to form Jio BlackRock, a 50:50 joint venture, to deliver tech- enabled access to affordable, innovative investment solutions for millions of investors in India.

Jio Financial Services Ltd (JFS) and BlackRock have signed an agreement to form a 50:50 joint venture to offer investment solutions. JFS and BlackRock are targeting initial investment of $150 million each in the joint venture, to be named Jio BlackRock.

BlackRock Inc., the world’s largest asset manager, is looking to join forces with India’s largest company Reliance Industries Ltd (RIL) in what could be a return to the country after exiting in 2018. The US-based investment giant is in active discussions with Jio Financial Services (JFS) to create an asset management business, said three people aware of the matter. JFS is the recently spun-off fintech arm of Mukesh Ambani’s flagship.

share price of RIL ex-JFSL was valued at ₹2,580 per share while Jio Financial Services at ₹261.85 per share.  In line with RIL's exchange filing on the subject of the cost of equity shares post the demerger, the cost must be apportioned as 95.32% towards Reliance Industries Limited and the residual as cost to acquire holdings in RSIL.  “For instance, if RIL shares were acquired on some day before the demerger at an effective rate of ₹2,800, ₹2,669 (95.32% of ₹2,800) must be considered as the cost of acquiring shares of RIL. The residual ₹131 ( ₹2,800 - ₹2,669) must be considered as the cost of acquiring shares of RSIL for the purpose of computing capital gains," said Abhishek Soni CEO and Co-founder Tax2win Tax and investments expert Balwant Jain said shares are considered capital assets under income tax law, and any gain on their sale is treated as capital gains.

Jio Financial Services (JFSL), the demerged financial services business of Reliance Industries, has been valued at ₹1.66 lakh crore after its stock was priced at ₹261.85 per share following a special trading session on Thursday. The stock price was above Dalal Street's expectations of ₹160-200 apiece, catapulting Jio Financial's market capitalisation above established lenders such as IndusInd Bank, Bank of Baroda, PNB or Canara Bank. The 'constant price' of Jio Financial was discovered in a session held on the NSE on Thursday between 9 AM and 9.45 AM.

Reliance Industries Ltd (RIL), has unsettled shadow lenders space in the country by claiming the second spot.  Post demerging with RIL on Thursday, Jio Financial Services (JFSL) boasts off an implied market capitalisation of ₹1.6 lakh crore, that's way behind Bajaj Finance m-cap of ₹4.59 lakh crore, but significantly higher to its contemporaries in the space. Shares of Jio Financial will remain at ₹261.85 until it lists on the bourses. However, upon listing, Jio Financial Services will surpass Cholamandalam Investment and Finance which has an m-cap of over ₹95,000 crore, being the second largest NBFC presently.

Jio financial services, backed by Mukesh Ambani's ... moreJio financial services, backed by Mukesh Ambani's Reliance is set to enter & disrupt the financial lending space in India.

Reliance Industries - Jio Financial Services Demerger: Reliance Industries Ltd. (RIL) share price gained over a percent after the demerger of its NBFC unit Jio Financial Services Ltd (JFSL), which was valued at ₹261.85 per share, much higher than analysts estimates. The stock exchanges conducted a special pre-opening session for the discovery of RIL share price and that of its financial arm JFSL.

Reliance Industries (RIL) will create a non-banking financial behemoth with a size of approximately ₹1.5 lakh crore which could pose a tough challenge to existing non-banking financial companies (NBFCs), according to experts. The financial arm of Reliance Industries was demerged from its parent company Reliance Industries today. The demerged entity RSIL (Reliance Strategic Investments Limited), would be renamed JFSL (Jio Financial Services Limited) and it will be listed separately on NSE and BSE in the next few months.

«I do not know much about how it will make such a big difference to Zerodha, but to the financiers, it will. Because these guys are themselves selling what 50-60% of smartphones or phones, and they are selling their own televisions and everything else through their own network,» says Samir Arora, Helios Capital.We got a unique listing today. When I say not listing, but a price discovery of Jio Financial Services. What do you think would be the medium to long-term implications of this because Reliance is giving birth to a business which is backed by technology, which is backed by scale and they have advantage of data and reach. What implications do you think this could have on the lenders, the distributors, and even, for that matter, platform companies like Zerodha and Policy, PB Fintech? I do not know much about how it will make such a big difference to Zerodha, but to the financiers, it will.

Reliance Industries - JIO financial Services Demerger: Reliance Industries share price opened at ₹2,580 per share ex-Jio Financial Services (JFSL) after the special pre-open call auction session on the stock exchanges Thursday. On BSE, Reliance share price opened at ₹2,589 apiece, while it started trading at ₹2,580 per share on the National Stock Exchange (NSE). Meanwhile, the Jio Financial Services share price was valued at ₹261.85 per share after the pre-opening session.

₹261.85 per share on the National Stock Exchange at the end of a special pre-open call auction session conducted in the capital market segment for price discovery on Thursday. This follows its demerger with Reliance Industries Ltd. (RIL), the share price of which fell to ₹2,580.

Reliance-JFSL demerger: The Jio Financial Services share price would list on the National Stock Exchange (NSE) at ₹273 per share. This calculation came after Reliance share price settling on NSE at ₹2,580 per share in special pre-open session on Thursday as the RIL stock had ended at ₹2,853 apiece on NSE ( ₹2,853 - ₹2,580).

Reliance-JFSL demerger: Ahead of Reliance Industries Ltd (RIL) and Reliance Strategic Investments Limited demerger, The RIL board has declared cost of acquisition of Reliance and Jio Financial Services Ltd. As per the latest exchange filing of the Reliance Industries has informed Indian stock market exchanges that after demerger, cost of acquisition for Reliance Industries Ltd would be 95.32 per cent while the rest 4.68 per cent for Reliance Strategic Investments Limited.

Jio Financial Services gets demerged from Reliance Industries. Looking at the Reliance playbook, be it in telecoms or retail, it is obvious that Jio Financial will try to take the services to the masses, multiple industry insiders said.

₹2,853 apiece on the NSE. Stay tuned to our RIL-Jio Financial Services Demerger Live blog for the latest updates.The record date for the Reliance-Jio Financial demerger is today, July 20, 2023.Jio Financial Services (JSFL) is going to be demerged from Reliance Industries (RIL) on Thursday (July 20).

Reliance Industries (RIL) shares witnessed minor gains on Wednesday ahead of demerger of Jio Financial Services. Reliance shares opened at ₹2,832 apiece on BSE. At 9:51 IST, RIL shares were up 0.64% at ₹2,842.

«One needs to watch out how Reliance integrates the financial service arm with the retail and telecom business to procure supply chain discounting or merchant vendor discounting or consumer financing,» says Sushil Choksey, Director, Indus Equity Advisors.How much value unlocking do you see with this demerger for Reliance and its shareholders? There is going to be a significant amount of unlocking, would not you agree?Yes, it is certainly a very positive event for Reliance shareholders because not only 6.1% Reliance treasury shares are being transferred here and that in today's market value at closing price is Rs 1,14,000 crores approximately plus Rs 28,000 crores of net worth which is currently owned and all the related financial service or insurance and all the license and maybe the payment bank is part of this entity. So, one needs to watch out how Reliance integrates the financial service arm with the retail and telecom business to procure supply chain discounting or merchant vendor discounting or consumer financing.

Reliance has announced the demerger of its financial services business into Reliance Strategic Investments as part of its group restructuring. The spun-off entity has been renamed Jio Financial Services, which will be listed soon. The demerger of the financial services business involves a spin-off of Reliance Industries' 6.1% treasury shares.What is in it for Reliance shareholders?Under the demerger arrangement, shareholders of Reli

Reliance Industries (RIL) on Thursday (July 20). RIL on July 8 announced in a BSE filing that the National Company Law Tribunal approved the planned demerger of Jio Financial Services. It announced the record date of July 20, 2023, for the same.

Reliance Industries Ltd’s demerged entity Jio Financial Services will temporarily enter the blue-chip indices NSE Nifty 50 and BSE Sensex on 20 July. NSE will conduct a special pre-open auction session for the Mukesh Ambani-led RIL stock, following the financial services arm spin-off, to determine RIL stock price without the demerged unit. Jio Financial Services will also join 18 other NSE indices such Nifty 100, Nifty 200, Nifty 500, Nifty Energy, and Nifty Oil & Gas until it is listed on the bourses for trading.