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Reliance-Jio Financial Demerger: The date of 20 July 2023 is very special for the country’s richest industrialist Mukesh Ambani’s Reliance Industries. In the special trading session on the stock exchange, the share value of Jio Financial Services, a company separated from Reliance Industries, was discovered. The market has fixed the price value of Jio Financial Services at Rs 261 per share in this special trading session. With this, another company of Mukesh Ambani’s Reliance Group became a part of the stock market. The market anticipates that the listing on the stock exchange will be at a higher price. Will start trading shares in the gray market. Means the investors have laddoos in both their hands.
Waiting for Jio Fin’s formal listing
Now the market is waiting for the formal listing of Jio Financial Services on the stock exchange. For the time being, it will be included in all the indices in which Reliance Industries is included. The curtain on the formal listing on the stock exchange of Jio Financial Services is expected to rise in the AGM meeting of Reliance Industries. And Chairman Mukesh Ambani will reveal the date of listing in the AGM.
A lot of enthusiasm was seen among investors to acquire Jio Financial Services. To get its share, investors fiercely bought shares of Reliance. Because the company had announced that the investor would be given one share of Jio Financial for every Reliance share. Investors who had as many shares of Reliance Industries as on July 19, will be credited in the demat account of Jio Financial shares.
Reliance Industries had decided to demerger Jio Financial Services during the announcement of the second quarter results of 2022-23 in October. While the market was waiting for the IPO or demerger of telecom company Reliance Jio Infocomm and retail company Reliance Retail.
Now is it the turn of Reliance Retail!
On 7 July 2023, Reliance Retail Limited announced the decision to reduce the equity share capital of the company. The shareholders who hold shares of Reliance Retail, except the promoters of the company and the holding company Reliance Retail Ventures, will be cancelled. The proposal was approved in the company’s board meeting on 4 July 2023.
Market of speculations hot before AGM
After this decision, it is now being speculated in the market that after the demerger of Jio Financial, Reliance Industries will also demerge Reliance Retail on the same lines? AGM (Annual General Meeting) of Reliance Industries is going to happen and speculations are being made that the demerger of Reliance Retail can be announced.
Big announcements are always expected before the AGM meeting of Reliance Industries. And this year also a big announcement is expected from the AGM meeting of Reliance Industries. AGM meeting of Reliance Industries may be held in August. In the 2019 AGM meeting, the company’s chairman Mukesh Ambani had talked about the listing of Reliance Jio and Reliance Retail on the stock exchange in the next five years. But the listing is being done first for Jio Financial Services. Means Mukesh Ambani has given a surprise gift to the market.
Speculations on the listing of Reliance Jio
The listing of Reliance Jio is also being speculated for a long time. Reliance Jio, which launched the telecom business in 2016, became the country’s largest telecom company in just seven years, beating Bharti Airtel and Vodafone Idea. Mukesh Ambani has sold 33% stake in Jio to 13 investors. Let us tell you that he had sold this stake in 2020 during the Corona period. 10% of Reliance Jio was sold to Facebook and 8% to Google. Apart from this, top equity funds like Intel Capital, Qualcomm Ventures and Silver Lake, Vista Equity Partners, General Atlantic and KKR also bought stake in Reliance Jio.
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