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JIO Financial Services Listing
JIO financial services, which demerged from Reliance Industries ( RIL) last month, will get listed on the stock exchanges. JFSL listing date is on August 21.
During a price recovery session, the JFS shares were valued at Rs 261.85 per piece indicating a valuation of Rs 1.66 trillion.
The Much-anticipated JFSL Listing
JIO financial services listing date comes at a time when index managers were concerned about the delay.
UK’s FTSE Russell on Thursday decided to remove JFS from its indexes due to the delay but reversed the decision on Friday after the listing date was announced.
At its valuation, it is the second largest NBFC in India after Bajaj Finance. This is above giants like Coal India, SBI Life, and Tata Steel.
JFSL delivered 635.32 crore equity shares with a face value of Rs 10 each to RIL owners as of the July 20 record date on August 12. As of June 30, the total number of RIL shareholders was 35.06 lakh.
Future Assumptions about JIO Financial Services Listing
Experts believe the Reliance JIO financial services share price could breach the 300 mark. Though this excludes the treasury stock that the company holds.
A few key developments have occurred between July’s price discovery session and JIO financial services listing.
It may be in the form of launching asset management ventures and a reported plan of foray into the insurance sector.
JFS has undertaken a joint venture with US-based asset management BlackRock to enter the Indian asset management space.
JFS shares, though, will witness pressure from index funds and exchange-traded funds( ETFs)
JIO Financial Services Limited Company Details
Jio financial services, through joint ventures and operating subsidiaries, will offer a broad range of financial solutions addressing the needs of both consumers and merchants.
The company primarily operates in the credit market segment and NBFC and has strategic plans to expand its operations into digital payment, insurance, and asset management verticals.
JIO Financial Services GMP
Jio Financial Services GMP listing is at 261.85, more than the market expectation.
Though it is good news for the investors and the company. This means it is the right time to purchase the shares.
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