Jio Financial Services Ltd (JFSL) shares to list on Monday. GMP signals strong premium
Reliance Industries Ltd (RIL), Jio Financial Services (JFSL), will list on Indian stock exchanges on Monday, August 21. After the July 20 special pre-open call auction session, Jio Financial Services' share price was set at Rs 261.85 apiece on the NSE.
According to market observers, Jio Financial Services GMP or grey market premium today is currently between ₹50 and ₹54, translating to a market cap of over ₹2 lakh crore. They predict that the stock will open at between ₹315 and ₹325.
Just one day before FTSE Russell intended to remove the stock from its indices, Jio Financial Services set to debut on the stock exchange. Also Read: Jio Financial Services to be listed on stock exchanges on August 21 “Trading Members of the Exchange are hereby informed that effective from Monday, August 21, 2023, the equity shares of Jio Financial Services Ltd (Formerly known as Reliance Strategic Investments Limited) shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities," a notice on BSE said.
This week, Jio Financial Services made headlines when renowned global benchmarks provider FTSE Russell announced that JFSL was being dropped for failing to start trading after 20 business days. Also Read: Jio Financial to be removed from FTSE Indices According to a notice provided by the index services provider, the removal was effective on August 22 because the company failed to provide a fixed trading date since its inclusion on July 20.
However, following the announcement that Jio Financial shares will start trading on Monday by BSE and the NSE, FTSE Russell withdrew its decision to remove Jio Financial from global indices. According to FTSE, Jio Financial will have an unchanged share issuance of
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