Reliance Demerger: Jio Financial Valued At Rs 261.85 Apiece

Demerged financial services unit of Reliance Industries Limited (RIL), Jio Financial Services share price came out at Rs 261.85 apiece during a special trading session on July 20. The price of Rs 261.85 is far higher than brokerage estimates of up to Rs 190 apiece.

Earlier, at the end of special pre-open call auction session on Thursday, market price of Jio Financial Services (JFSL) derived at Rs 261.85 apiece on National Stock Exchange. Meanwhile, the share price of Reliance Industries witnessed a sharp decline of 7.99% intraday till 12:39 pm on NSE. Current market price of RIL share is Rs 2615.05 per share.

It is worth mentioning that Jio Financial Services share price has been calculated as the difference between Reliance's last close and the stock's settling price at the end of special session. Reliance share settled at Rs 2,580 per share after the session as against its last closing price of Rs 2841.85 on July 19.

Earlier, analysts estimated the share price of JFSL would be valued somewhere between Rs 160 and Rs 190 apiece.

But, the actual price calculated during the special trading session exceeded these expectations, soaring Rs 261.85 apiece.

Meanwhile, demerger of Jio Financial Services from Reliance Industries seeks to establish a separate and focused entity for the financial arm. With the demerger of Jio Financial, Reliance Industries desires to unlock potential value and offer investors with better insights into the operations of JFSL.