By India Today Business Desk: Jio Financial Services, the demerged financial services unit of Reliance Industries Limited, saw its share price at a higher-than-expected value of Rs 261.85 during a special trading session on Thursday.
The parent company, Reliance Industries Limited, witnessed its stock trading at Rs 2,580 apiece on the same day, compared to its previous closing price of Rs 2,841.85 on Wednesday.
Analysts quoted in a Reuters report had initially estimated the share price of Reliance Strategic Investments, which will be eventually renamed Jio Financial Services, to be valued between Rs 160 and Rs 190 per share.
However, the actual price determined during the special trading session surpassed these expectations, reaching Rs 261.85 per share.
Jio Financial Services demerger
The demerger of Jio Financial Services from Reliance Industries aims to create a separate and focused entity for the financial arm.
By doing so, Reliance Industries seeks to unlock potential value and provide investors with clearer insights into the operations of Jio Financial Services.
The special trading session was conducted to ascertain the share price of the demerged financial unit, marking an essential step in the demerger process.
With the share price now determined, investors will closely observe how this move will impact the overall valuation of Reliance Industries and the growth prospects of Jio Financial Services, which has been gaining prominence in India’s rapidly expanding financial services sector.