Jio Financial Services listing is scheduled on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE)on August 21, 2023. Jio Financial Services (JFS) is the financial subsidiary of Reliance Industries.
The shares were allotted to Reliance Industries (RIL) shareholders on August 10, 2023, in a ratio of 1:1. This means that every RIL shareholder who held a RIL share on July 20, 2023, will get one Jio Financial Services share.
Jio Fin Serv is all set to make its debut on the BSE and NSE under the symbol “JIOFIN”. The scrip will be in the Trade-for-Trade segment for 10 trading days, which means that the delivery of the stock cannot be taken on the same day. Jio Financial Services share price discovery for the scrip was set at Rs 261.85, and the valuation of the company was estimated at Rs 1.66 lakh crore.
JIO Financial Services, formerly known as Reliance Strategic Investments Limited, is expected to list at a premium, as it is a strategic move by Reliance Industries to attract investors and unlock value from its financial arm. The company offers a range of services, such as payments, lending, insurance, wealth management, and digital banking.
JIO Financial Services is also likely to remain in the FTSE indices, as the UK-based index provider withdrew its earlier notice of removing the scrip from some of its indexes on August 22. Jio Financial Services will also be added to the MSCI Global Standard Index on August 23.
The leadership of Jio Financial Services is composed of experienced and respected professionals from the financial services industry. They have a proven track record of success and are committed to building a leading financial services company in India.