Jio Financial Services share price: Reliance share price finished at 2,580 per share on the NSE, while it settled at 2,589 per share on the BSE in a special pre-open session.
The Jio Financial Services share price would be listed on the National Stock Exchange (NSE) at $273 per share after the Reliance-JFSL merger. This estimate was made after the Reliance share price settled on the NSE at 2,580 per share in a special pre-open session on Thursday, as the RIL stock had concluded at 2,853 per share on the NSE (2,853 – 2,580). In a special pre-opening session on the BSE, Reliance’s share price finished at 2,589 per share.
Sumeet Bagadia, Executive Director at Choice Broking, commented on Jio Financial Services share price listing after the cost of acquisition, “This is a strong listing of JFSL shares because as per RIL’s last closing price of 2,853 on NSE, the implied value of the ex-demerged entity is 2,707 and that of RSIL is 133.”
From today, the Nifty will have 51 shares, while the Sensex will have 31 shares, with Jio Financial Services shares being the most recent addition to the important benchmark indexes. The newly formed company will be included in the Nifty 100, Nifty 200, and Nifty 500 indexes, as well as other sectoral indices.
Details on the cost of the RIL-JFSL merger
The RIL has previously revealed the cost of purchase for both Reliance Industries and JFSL ahead of the JFSL demerger. The RIL board of directors decided that the cost of acquiring Reliance and Jio Financial Services Ltd would be 95.32 percent for RIL and 4.68 percent for Reliance Strategic Investments Limited or Jio Financial Services Ltd or JFSL.
The Bombay Stock Exchange (BSE) said earlier this week that Jio Financial Services shares will be added to 18 of the S&P BSE indexes, including the S&P BSE Sensex, beginning July 20 for a three-day period due to Reliance Industries participating in the special pre-open session.
