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Jio Financial Services Share: The stock price of Jio Financial Services, a company separated from Reliance Industries after demerger, has been discovered at Rs 261 on NSE and Rs 273 per share on BSE in the special trading session. With this, the market capitalization of Jio Financial Services has crossed $20 billion i.e. Rs 1.66 lakh crore.
Jio Financial Services has overtaken all other Adani Group companies in terms of market capitalization except Adani Enterprises. The market cap of Adani Ports and SEZ is also less than that of Jio Financial Services. In terms of market capitalization, Jio Financial Services has left behind Maharatna government companies like Coal India and Indian Oil.
The market cap of Jio Financial Services will be more than Rs 1,66,000 crore i.e. $ 20 billion. With this value, Jio Financial Services has become the 32nd most valuable company in the country in terms of market cap. HDFC Life, and Bajaj Auto also now have a lower market cap than Jio Financial Services.
The share price discovery of Jio Financial Services has been done. But the formal listing of the company on the stock exchange is expected to happen in the end of August or in the month of September. In the AGM of Reliance Industries, the company’s chairman Mukesh Ambani can announce the timeline of the listing of Jio Financial Services.
Investors of Reliance Industries got one stock of Jio Financial in exchange for each company’s share after the demerger. Investors fiercely bought Reliance shares to get shares of Jio Financial Services. Investors who had as many shares of Reliance Industries as on July 19, will be credited in the demat account of Jio Financial shares. Due to this news, a sharp jump in the share price of Reliance was seen in recent times.
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