Reliance had a terrific day today since Jio Financial Services will be launched on the NSE for 273 rupees per share. In a special pre-opening session on the BSE, the share price of Reliance was settled at Rs. 2589.
“This is the strong listing of JFSL shares because as per RIL’s closing price of Rs. 2853 on NSE, the implied value of the ex-demerged entity is Rs. 2707 and that of RSIL is Rs. 133” said by Sumeet bagadia, executive director at choice broking.
Nifty will have 51 shares starting today, whereas Sensex will have 31 shares in its stock list. The Nifty 100, Nifty 200, and Nifty 500 indices will also include the demerged entity.
RIL has already disclosed the cost of acquisition for both RIL and JFSL prior to the demerger. 95.32%, according to the management, will go to RIL, and the remaining 4.68% will go to JFSL.