Reliance Industries (RIL) has started a special trading session on Thursday to determine the share price of its demerged financial services unit, Jio Financial Services. The special session will run from 9:15 am to 10:00 am, after which the stock will be listed on the NSE and BSE.
RIL shareholders who held shares on Wednesday, July 19, will be eligible to receive one share of Jio Financial for every one share of RIL they hold. The price of Jio Financial shares will be determined based on demand and supply during the special trading session.
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The demerger of Jio Financial is part of RIL’s plan to focus on its core businesses of oil and gas, retail, and telecommunications. Jio Financial is a digital financial services platform that offers a range of products and services, including loans, insurance, and investment products.
The special trading session is expected to be closely watched by investors, as it will provide the first indication of the value of Jio Financial. The stock is expected to be listed on the NSE and BSE under the ticker symbol “JFIN.”