Jio Financial Demerger LIVE: Jio Financial Services to demerge from Reliance

RIL-Jio Financial Services Demerger LIVE: Special pre-open session for Reliance shares today; here’s what will happen

Shares of Reliance Industries (RIL) will not be available for normal trading for the first 45 minutes on Thursday, July 20 as a result of the demerger of its financial services arm. RIL shares will go through a special pre-open call auction tomorrow on the demerger of Jio Financial Services Ltd (JFSL) between 9:00 am to 10:00 am. During this session, one can only place, cancel, or modify the orders.

The price at which the highest orders will be matched becomes the opening price of the stock at 10 am when normal trading resumes for RIL. The difference between Wednesday’s closing price of RIL and the price derived during the special session will be treated as the “constant price” for Jio Financial Services. On Wednesday, shares of RIL settled 1.15% higher at ₹2,853 apiece on the NSE. Read more here

RIL-Jio Financial Services Demerger LIVE: BSE, NSE to conduct special pre-open session for RIL price discovery 

BSE and NSE will conduct a special pre-open session today for Reliance Industries to discover its price after the demerger. The previous session’s closing price of RIL, which is ₹2,853.00 on NSE will be the reference price for this session.

RIL-Jio Financial Services Demerger LIVE: Demerger ratio set at 1:1 

The ratio for demerger of Jio Financial Services from Reliance Industries (RIL) is set at 1:1. This means for each share of RIL held before the record date on July 20, the company will award one share of JFSL. JFSL is expected to get listed in the next two-three months.

Experts pointed out that Jio Financial Services will hold 413 million treasury shares of RIL, accounting for approximately 6.1% of RIL’s total outstanding shares. This means JFSL will own a 6.1% stake in RIL.

RIL-Jio Financial Services Demerger LIVE: Record date for RIL-Jio Financial Services demerger today

The record date for the Reliance-Jio Financial demerger is today, July 20, 2023.

RIL-Jio Financial Services Demerger Live: Jio Financial Services to be demerged from RIL today

Jio Financial Services (JSFL) is going to be demerged from Reliance Industries (RIL) on Thursday (July 20). RIL on July 8 announced in a BSE filing that the National Company Law Tribunal approved the planned demerger of Jio Financial Services. It announced the record date of July 20, 2023, for the same.