Reliance Industries Share Price: Jio Financial Services

The listing of Jio Financial Services is expected to be a major boost for Reliance Industries’ financial services business. The company is targeting a market share of 20% in the digital lending market by 2025.

Jio Financial Services (JFS), the financial services arm of Reliance Industries (RIL), is set to list on the stock exchanges on Monday, August 21. The company’s shares will be listed on the BSE and NSE under the ticker symbol “JIOF”.

The price of Jio Financial Limited shares was fixed at Rs 261.85 per share in a special price discovery session held on July 20. This was much higher than the analysts’ expectations, which ranged from Rs 160 to Rs 190 per share.

Market analysts are bullish on the prospects of JFS and expect the company’s shares to list at a premium on the first day of trading.

The shares of Reliance Industries rose by 1.29% to Rs 2,570.40 on Friday. Following the announcement of the listing of Jio Financial Services.

Analysts at Motilal Oswal Securities said that the listing of JFS is a positive development for RIL and will help to further consolidate the company’s position in the financial services sector.

They said that JFS is well-positioned to benefit from the growing demand for digital financial services in India.

The share price of Reliance Industries increased after the management announced that its financial services arm. Jio Financial Services, will be listed on the stock exchange on August 21.

The share price of Reliance Industries Limited closed at Rs 2566.85₹ on the BSE, up 1.07%.

Jio Financial Services is a non-banking financial company (NBFC). That offers a range of financial services like digital lending, payments, and insurance. The company was valued at Rs 261.85₹ per share (NSE) in a special price discovery session held on July 20.

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