Business

July 20, 2023 : Investors in Jio Financial Services are sitting on a 100% capital gain after the company's shares were listed on the stock exchanges on July 19. The shares were priced at Rs 133 per share, which is a 4.68% discount to the closing price of Reliance Industries (RIL) shares on the same day. This means that an investor who bought RIL shares on July 19 is deemed to have paid Rs 133 for Jio Financial Services shares. The shares of Jio Financial Services opened at Rs 139.50 on the NSE and closed at Rs 166.50, a gain of 23.5%.

Jio Financial Services is a non-banking financial company (NBFC) that was incorporated in 2021. The company offers a range of financial services, including loans, insurance, and investment products. Jio Financial Services is a subsidiary of Reliance Industries.
The listing of Jio Financial Services is a major milestone for the company. It is the first time that an NBFC backed by a large corporate group has been listed on the stock exchanges in India. The listing is expected to help Jio Financial Services raise capital to expand its business.
The strong listing of Jio Financial Services is a positive sign for the Indian financial services sector. It shows that there is investor appetite for new and innovative financial services companies. The listing is also a boost for Reliance Industries, which is now one of the largest financial services companies in India.

The strong listing of Jio Financial Services is a positive development for the Indian financial services sector. It is a sign that there is investor appetite for new and innovative financial services companies. The listing is also a boost for Reliance Industries, which is now one of the largest financial services companies in India.