Jio Financial Services in Nifty50 from Thursday
时间:2024-06-25 13:31:58 阅读(143)
Jio Financial Services (JFSL), the de-merged entity of Reliance Industries (RIL), will be included in the Nifty50 from July 20, National Stock Exchange said on Monday.
“NSE vide its circular dated July 12 has announced a special pre-open session to be conducted for Reliance Industries in the Capital Market segment on July 20, on account of demerger of its financial services business into Reliance Strategic Investments (‘spun-off entity’ to be renamed Jio Financial Services),” the press release said.
Besides the Nifty50, the company will also be included in the Nifty 100, Nifty 200, and Nifty 500.
Axis Securities values JFSL post-demerger at a treasury stock valuation of Rs 1.08 trillion. Total outstanding shares stand at 6.7 billion, implying each share’s valuation at Rs 160, it said. The shareholding pattern will be the same as that of RIL. The present market cap of RIL is `18.92 trillion.
The brokerage added in its note: “We value JFSL at treasury stock valuation as the business model of the company is yet to be announced. Even if the entire allocation is not directed towards JFSL, the company might be able to leverage the same for regulatory funds.”
Further, Nuvama values the de-merged financial services business at Rs1 trillion or168 a share, which is 5% of the some-of-the-parts (SoTP) valuation of RIL.
Isha Ambani has been appointed non-executive director on the JFSL board, with former ICICI executive Hitesh Sethia appointed MD and CEO. The company’s major focus is on NBFCs and the credit market segment. It also plans to venture into insurance, digital payments, and asset management.
RIL had, in October last year, announced the demerger with a 1:1 swap ratio, with shareholders set to receive one equity share of JFSL with face value Rs 10, for one fully paid-up equity share of Rs 10 held in RIL.
上一篇:Mukka Proteins refiles draft papers with Sebi to mop-up funds via IPO
下一篇:Windfall tax cut on oil producers expected; hike in levy on ATF, diesel exports surprising- Analysts
猜你喜欢
- NDTV founders to sell most of their stake in broadcaster to Adani Group
- Asian stocks, US futures fall as US Fed’s 50-point rate hike looms; bond yield curve inverts again
- Gold schemes’ mop-up rises four times from FY20 level
- Bank Nifty jumps above 41200 on Adani-GQG deal, Nifty 50 tops 17500; here’s where banking index is headed
- Gold Price Today, 21 Nov 2022- Prices fall as traders await US Fed rate hike decision, support at Rs 52,420
- Bata collaborates with Easyrewardz for ‘BataClub’ Loyalty Program
- Bajaj Finance, Maruti Suzuki, Infosys, HDFC Life, Union Bank, Tata Motors, Biocon stocks in focus
- NCP’s Jitendra Awhad draws ire over ‘Lord Ram was non-vegetarian’ remark, apologises
- Nifty above 17200 would aim for 17550; Buy HDFC Bank, Coal India, TechM as charts show bullish trend