Jio Financial Services: Expected share price, demerger record date, listing, other details

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Jio Financial Services demerger: The primary and secondary market is ful of buzz about the Jio Financial Services IPO as Reliance Industries Ltd (RIL) is all set for demerger after receiving the nod from National Company Law Tribunal (NCLT). RIL has informed Indian stock market exchanges that NCLT has given its nod for demerger of company's financial services undertakings.

RIL informed Indian bourses about the NCLT's nod citing, "We wish to inform you that the Hon''ble National Company Law Tribunal, Mumbai Bench ("NCLT") vide its order dated June 28, 2023 (uploaded on the website of Hon''ble NCLT on July 5, 2023), has sanctioned the Scheme." On demerger record date and other details, RIL said, "The Company and Reliance Strategic Investments Limited will take necessary steps including fixing the record date for allotment and listing of equity shares of Reliance Strategic Investments Limited." This has sparked speculations about the launch of Jio Financial Services IPO, its share price in grey market and expected demerger record date. Here we list out some important details in regard to Jio Financial Services, expected share price and demerger record date: As Mukesh Ambani-backed company is yet to make any further announcement in regard to RIL demerger, Jefferies has estimated that Jio Financial Services share price would be around ₹179 apiece.

However, JP Morgan has estimated Jio Financial Services share price at ₹189 per share levels. Speaking on expected Jio Financial Services share price, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "All brokerages have estimated Jio Financial Services share price on the basis of current asset value of the company.