Jio Financials lists at ₹262 per share on NSE and ₹265 per share on BSE
Reliance Industries, made its stock market debut on Monday. The stock was listed at ₹265 per share on the BSE and ₹262 per share on the NSE against the discovered price of ₹261.85 apiece. However, the stock soon crashed 5 per cent to hit its lower price band of ₹251.75 on BSE.
On the NSE, too, it hit its 5 per cent lower price band of ₹248.90. As per the BSE, from Monday, August 21, 2023, the shares of Jio Financial Services Ltd (Formerly known as Reliance Strategic Investments Limited) admitted to dealings on the exchange in the list of T group of securities. Jio Financial Services' share price will be in the "Trade-for-Trade" segment for 10 trading days.
Read more: Jio Financial Services Listing LIVE Updates Meanwhile, shares of Reliance Industries fell over a per cent in morning trade on BSE on Monday. Jio Financial Services was demerged from Reliance Industries (RIL) on July 20. Last year, while delivering its September quarter earnings, Reliance Industries announced the demerger of its financial services business and list it separately on the stock exchanges under Jio Financial Services Ltd.
The Mumbai bench of the National Company Law Tribunal (NCLT) in its order on June 28 June (uploaded on the website of NCLT on July 5) approved the demerger. Brokerage firms believe the demerger has the potential of unlocking significant value for Reliance Industries and its shareholders. (More to come)Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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