RIL-Jio Finance demerger: Reliance Industries share price after Jio Financial demerger discovered at ₹2,580 apiece
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.
Read here: Reliance-JFSL demerger: Jio Financial Services share price lists at ₹273 per share on NSE Earlier, RIL said that post-demerger acquisition cost for Reliance Strategic Investments Ltd (RSIL), which will be renamed as JFSL, is 4.68%. This cost of acquisition, considering RIL previous closing price, comes to ₹133 per share. Catch Live Updates on RIL-Jio demerger here NSE and BSE conducted a special session aimed at determining the share value of Jio Financial Services, its demerged financial services unit.
Reliance's stock had closed at ₹2,841.85 on Wednesday. The two bourses held a ‘pre-open call auction’ session for Reliance between 9:00 a.m. to 10.00 a.m.
The discovered price of Jio Financial Services is above analyst expectations who had valued it at ₹125-225. Analysts' valuations were based on around 6% treasury stake in Reliance Industries, that Jio Financial Services would own. Analysts at JP Morgan had said that the implied value for Jio Financial Services currently stood at ₹189 per share and is based only on the treasury shares of RIL.
Read more on livemint.com
