The share price of Jio Financial Services was discovered at Rs 261.85 on Thursday; following the demerger of Reliance Industries, which owned by the billionaire Mukesh Ambani. Share price of Reliance was quoting at Rs 2,610 at 11 AM.
Mukesh Ambani demerged his financial service business to tap the growing market. This entity will be listed separately as Jio Financial Services on the stock exchanges.
Meanwhile, existing NBFC shares such as Manappuram Finance, Cholamandalam Investment and Finance Company, L&T Finance Holdings, and Bajaj Finance were seen trading sluggish on Thursday.