Jio Financial Services’ temporary inclusion in Nifty 50 and special pre-open for RIL stock- How it will work
时间:2024-06-29 05:17:19 阅读(143)
Reliance Industries Ltd’s demerged entity Jio Financial Services will temporarily enter the blue-chip indices NSE Nifty 50 and BSE Sensex on 20 July. NSE will conduct a special pre-open auction session for the Mukesh Ambani-led RIL stock, following the financial services arm spin-off, to determine RIL stock price without the demerged unit. Jio Financial Services will also join 18 other NSE indices such Nifty 100, Nifty 200, Nifty 500, Nifty Energy, and Nifty Oil & Gas until it is listed on the bourses for trading.Reliance Industries pre-call auction
A pre-open call auction for Reliance Industries will be conducted for price discovery following the demerger. This pre-open auction will be conducted from 9 to 10 am on 20 July, following which “all the unmatched orders of the pre-open call auction session within the dynamic price band of the discovered price shall be moved to the normal trading session at their limit price.”
Before it is listed, a dummy ticker for JFS will be created, which will be added to the indices. The company will remain on the indices until it gets listed. Once the firm has been officially listed, JFS will trade on these indices for three days before it exits, at the price determined by the markets. This temporary inclusion will allow traders to trade the stock allotted to them in a 1:1 ratio following the split, and rebalance their portfolios accordingly.
About RIL demergerReliance Industries has decided to demerge its financial services unit Reliance Strategic Investments. RIL has fixed July 20 as the record date to determine the equity shareholders entitled to receive shares of Reliance Strategic Investments (RSIL). Under the scheme of the arrangement, Reliance Strategic Investments will allot one fully paid-up equity share of RSIL of face value of Rs 10 each, for every one share of Reliance Industries as of the record date. Reliance Strategic Investments will then be renamed Jio Financial Services (JFSL). Nuvama valued shares of JFS at Rs 168 apiece, but factored in a 30% holdco discount, therefore ascribing the shares a value of Rs 117 each.
猜你喜欢
- Battling wildfires- Greece burns as wildfires sweep through the country- See Photos
- Sebi focuses on data, technology tools to detect malpractice in securities market
- Schneider Electric’s Chris Leong on using AI and building sustainability lead strategies for brands
- Sebi amends ICDR regulations to provide 18-month window for pre-filed IPOs
- Balasore triple train crash- Indian Railways resumes passenger train services – See Photos
- Equity investors richer by over Rs 12
- Extension of RoSCTL scheme for 3 years a dire necessity- AEPC to govt
- Asus ROG Ally India launch- 10 things to know before you spend Rs 69,990
- Ayodhya Airport takes off with world-class features! Check out stunning photos, interesting facts and features