• By Vaamanaa Sethi
  • Sat, 19 Aug 2023 03:29 PM (IST)
  • Source:JND
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Shares of Jio Financial Services (JFSL), which recently demerged from Reliance Industries (RIL), will finally list on Indian stock exchanges on Monday, August 21. JFSL share price band was set at Rs 261.85 per share on NSE, in the pre-open call auction session held on July 20. 

According to market experts, grey market premium (GMP) of JFSL is currently between Rs 50 to Rs 54, the market capitalisation reaching to over Rs 2 lakh crore. The JFSL stock is set to open at between Rs 315 and Rs 325, as per experts, as quoted by Livemint.

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“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," a notice on BSE said.

FTSE Russell intended to remove the JFSL stock from its indices, however, withdrew from its decision after RIL announced its listing date on August 18.

According to FTSE, Jio Financial will have an unchanged share issuance of 6,765,591,509 and an investability weighting of 49.66% in the FTSE All-World index.

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“Further to the FTSE Russell notice released on 17 August 2023 in relation to Jio Financial Services (India): Constituent Deletion, based on the latest exchange information announced on 18 August 2023 regarding Jio Financial Services’s listing date as 21 August 2023, please be advised that Jio Financial Services will no longer be deleted from the indexes effective 22 August 2023 and remain in the index with an unchanged share in issue total of 6,765,591,509 and an unchanged investability weighting of 49.66%," said FTSE Russell in its release.

Jio Financial Services is currently listed under a dummy ticker and no trading is happening in the scrip. The shares were credited to the eligible RIL shareholders as of the record date of July 20 in the ratio of 1:1.