RIL-Jio Financial Services Demerger: Jio Financial Services priced at ₹261.85 per share
Reliance Industries Ltd. (RIL) shares ex-Jio Financial Services (JFSL) have been valued at ₹2,580 per share, while Jio Financial Services is priced at ₹261.85 per share after the special pre-opening session.
The demerger of Jio Financial Services, the financial arm of the Mukesh Ambani-led conglomerate, took place today at a ratio of 1:1. Market experts are optimistic about the prospects of the newly formed entity, JFSL, on Dalal Street.
“Jio financials is effectively valued at ₹261.85 per share. They have roughly 620 crore shares. That values Jio financials technically at ₹160,000 crore (roughly $20 billion),” said Deepak Shenoy, Founder, Capital Mind.
“But don’t go overboard, Jio Financial Services shares haven’t actually traded. What this means is that in the Nifty, Jio Financials will be valued at ₹160,000 crore. temporarily (until it eventually lists, when it will be removed). Oh, this will be so crazy for all the index funds when they get new inflows,” Shenoy said in a tweet.