Bourses will conduct a special pre-trade price discovery session on Reliance Industries (RIL) on Thursday to determine the share price of Jio Financial Services, which is expected to list on the bourses separately within the next two months. Shares of RIL on Wednesday closed at a new all-time high of Rs 2,840, valuing the company at Rs 19.2 trillion. All RIL shareholders at the end of Wednesday’s trade will be eligible to get one share of Jio Fin for every one share of RIL (as the ex-date has been set as July 20).
Jio Fin’s share price will be the difference between RIL’s Wednesday’s close and the price arrived at after Thursday’s pre-trade session. For instance, if RIL’s price after