Reliance’s Jio Financial Services to be listed on August 21 Jio Financial Services (JFS), the financial arm of Indian conglomerate Reliance Industries, is set to be listed on the stock exchanges on August 21, per a stock exchange circular on Friday. Billionaire Mukesh Ambani’s Reliance hadlast monthspun off JFS, with the market ascribing a valuation of around $20 billion. Ambani has said Jio Financial Services aims to provide simple, affordable and innovative digital first solutions.
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FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.