Jio Financial Services shares from the Reliance demerger worth Rs 261.85 each

The total number of shares in circulation for Jio Financial Services is 676.6 crore, and the company's market value on the NSE is around Rs 1.77 lakh crore.

Jio Financial Services, Reliance Industries' financial division, was separated from the parent firm today and was listed on NSE(National Stock Exchange) and BSE (Bombay Stock Exchange) separately. It will also be included in the Sensex, Nifty50, and Nifty100.

The oil-to-retail conglomerate said in October that it would demerge its financial services division and float it independently on stock exchanges under the name Jio Financial Services Ltd. in an effort to meet the rising demand for modern financial services among small- and medium-sized enterprises.

Following the demerger of Jio Financial Services Ltd (JFSL) from Reliance Industries Ltd (RIL), the company's shares on the National Stock Exchange (NSE) started at Rs 2,580 per share on Thursday.

On the NSE, Jio Financial Services has a discovered price of Rs 261.85 per share. On the NSE, RIL shares finished the day on Wednesday at Rs 2,841.85.

Between 9 and 10 am, the NSE held a special pre-open session (SPOS) for the purpose of price discovery for the big oil-to-telecom corporation due to the demerger. The opening price of RIL's shares on the BSE, which also had a special session, was Rs 2,589 per share.

The Reliance Strategic Investments Limited, which is being renamed Jio Financial Services, will own 4.68 percent, according to the RIL board, making Reliance's post-demerger cost for the company 95.32 percent. In the following two to three months, during Reliance's approaching AGM, the listing date is anticipated to be disclosed.

The total number of shares in circulation for Jio Financial Services is 676.6 crore, and the company's market value on the NSE is around Rs 1.77 lakh crore. At the conclusion of the trading day on July 19, all Reliance shareholders are now qualified to receive JFSL shares in a 1:1 ratio. You will receive 100 JFSL shares, for instance, if you own 100 shares of Reliance.

In order to decrease churn among its participants, India's NSE modified the criteria on how spun-off companies will be included in indexes in April.

In the case of indexes with fixed constituents, all newly listed businesses were previously removed and replaced with another suitable stock.Any newly listed spun-off companies will be initially included in indexes at a constant price under the new regulations, which is the spread between the demerged company's closing price on the day before the ex-demerger date and the price during a special pre-open session on the ex-demerger date. At the conclusion of its third day of listing, the demerged firm will be taken out of the index.

Hitesh Sethia, a former executive of ICICI Bank (ICBK.NS), will be the CEO, and seasoned banker KV Kamath will serve as non-executive chairman for JFSL.