As RIL’s stock finished at $2,853 per share (i.e., $2,853 – $2,580), this computation was done after the Reliance share closed at $2,580 per share on the NSE in the special pre-opening session on Thursday.. On the Bombay Stock Exchange (BSE), in the special pre-opening session, Reliance shares closed at ₹2,589 per share.
After the acquisition cost, Jio Financial Services’ share price has been determined for listing. Sumit Bagadia, the Executive Director of Choice Broking, said, “This is a strong list of JFSL shares, as its intrinsic value is based on the last closing price of ₹2,853 on the NSE and the pre-determined unit price of ₹2,707, along with RIL’s price of ₹133.”
Starting today, there will be 51 shares in the Nifty and 31 shares in the Sensex stock list, with Jio Financial Services shares being among the latest entrants in the key benchmark indices. The newly included entity will also be part of the Nifty 100, Nifty 200, Nifty 500, and other regional indices.
RIL-JFSL Demerger: Acquisition Cost Details
Before the merger of JFSL, RIL had already announced the acquisition cost for both Reliance Industries and JFSL. The RIL board announced that the acquisition cost for RIL will be 95.32%, while the remaining 4.68% will be for Reliance Strategic Investments Limited or Jio Financial Services Limited or JFSL.
Earlier this week, the Bombay Stock Exchange (BSE) had announced that Jio Financial Services’ shares will be added to 18 of the S&P BSE indices, including the S&P BSE Sensex, for a period of three days starting from 20th July, due to its association with Reliance Industries. It will be a part of the special pre-opening session.