INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Jio Financial Services (JFS), a subsidiary of the conglomerate Reliance Industries led by billionaire Mukesh Ambani, opened at Rs
Reliance had last month spun off JFS, with the stock price set at a much higher-than-expected Rs 261.85, valuing it at around $20 billion in
a special trading session
"Trading Members of the Exchange are hereby informed that effective from Monday, August 21, 2023, the equity shares of Jio Financial
Services Ltd (formerly known as Reliance Strategic Investments Limited) shall be listed and admitted to dealings on the Exchange in the list
of T Group of Securities," BSE said in a notice
The scrip will be abbreviated JIOFIN, the BSE said.The eagerly awaited listing date arrives as concerns among index managers grew due to the
FTSE Russell from the UK initially opted to remove JFS from its indexes due to the postponement
However, this decision was reversed on Friday after the listing date was announced.After demerger, shareholders received one JFSL share for
every Reliance share they possessed
The distribution of JFSL shares occurred last week, with the shares being added to shareholders' demat accounts.Another major index services
provider, MSCI, announced on Friday that JFS would be included in its Global Standard Indexes in place of Reliance Industries.While JFS is
already a component of significant Indian indexes, including the prominent Nifty 50, it cannot be actively traded until after its official
Moreover, in accordance with exchange regulations, it will be delisted at the conclusion of its third day of trading.Jio Financial will be
removed from Nifty and Sensex after the end of the third day of listing on August 24.Here are some FAQs on listing of Jio Financial
Services:What are brokerages saying on Jio Financial Services?Market observers predicted stocks to open higher
added.Many brokerage firms like Motilal Oswal, HDFC Securities, ICICI Securities and Morgan Stanley have given a buy rating on Jio Financial
Services.What are the key risks associated with investing in Jio Financial Services?The company is still relatively new and has not been
profitable in the past.The company is facing increasing competition from other financial technology companies.The company's business model
is heavily reliant on digital technology, which could be disrupted by changes in technology or regulations.Who are the key investors in Jio
Financial Services?The key investors in Jio Financial Services include Reliance Industries Limited, Google, and Facebook.What are the growth
prospects for Jio Financial Services?The growth prospects for Jio Financial Services are strong
The company is targeting a large and growing market, and it has a strong parent company in RIL
Additionally, the company is well-positioned to benefit from the growth of digital financial services in India.How can I invest in Jio
Financial Services?You can invest in Jio Financial Services by buying shares on the BSE or NSE on the day of listing
Is it a good idea to invest in Jio Financial Services?Whether or not it is a good idea to invest in Jio Financial Services depends on your
individual investment goals and risk tolerance
The company is still relatively new and has not been profitable in the past
However, it has a strong parent company and a large addressable market
Ultimately, the decision of whether or not to invest in Jio Financial Services is up to you.(With inputs from agencies)
