Jio financial services share listing Price: Jio Financial Services shares commenced trading on Indian Exchanges on Monday (August 21). The share price of Jio Financial Services Limited (JFSL) was listed on BSE at Rs 265 per piece, while the stock got listed on NSE at a share price of Rs 262 per share.
Today's listing price was close to the exchange-derived price of Rs 261.85 per share on July 20.
After Jio Financial Services got demerged from Reliance Industries, speculations were rife that JFSL shares will soon get listed on Indian exchanges. However, the stock market debut of JFSL shares turned out to be sooner than what was earlier expected in September.
With a market capitalisation of approximately Rs 1.68 lakh crore, JFSL is the 33rd largest listed company in India and bigger than the likes of HDFC Life Insurance, SBI Life and IndusInd Bank.
Within the NBFC basket, JFSL is only behind Bajaj Finance and Bajaj Finserv.
The scrip will be in the trade-for-trade segment for ten trading days. Since the stock is in the T segment on both bourses, JFSL shares come with upper and lower circuit limits of 5% for the initial 10 days.
Performance of JFSL shares on Day 1 of listing
Jio Financial Services shares slumped 5% soon after listing on Indian bourses on Monday. The share price of JFSL was locked at a 5% lower circuit at Rs 251.75 per share on the BSE.
By the time of writing this story, JFSL shares made an intraday high of Rs 278.20 on BSE and Rs 262.05 on NSE, post listing. However, JFSL shares witnessed selling pressure and the scrip was locked at a 5% lower circuit at Rs 248.90 apiece on NSE.
One must note that no intraday trading will be allowed in JFSL shares. Thus, investors can only perform delivery-based buying and selling under T2T Group stock.
Reliance Industries shares are the top losers on the Nifty 50 index. Reliance Industries shares were down 1.30% at Rs 2,523.50 per share at 10:47 am IST today.
1.4 crore JFSL shares swapped hands in a pre-market block trade.