Jio

RSIL is scheduled to separate from RIL today

RSIL stock is priced at Rs 261.8 a share, and according to Nuvama Research, passive trackers of the Nifty 50 index may sell up to 90 million shares of it, or about US$290 million.

Shares of Reliance Strategic Investments Ltd. (RSIL) were found at Rs 261.85 after a special trading session on stock markets, much above expert predictions of Rs 160–190.

RSIL will, after that, be worth around Rs 1.45 trillion. On July 20, RSIL will separate from RIL. Later, it would change its name to Jio Financial Services (JFS) and be listed on exchanges.

From its previous closing of Rs. 2853 per share, the RIL stock has finished at Rs. 2589 per share on the BSE.

On July 21, the business will release its June quarter earnings. With the transfer of RIL's finance operations to JFSL, that company will own a 6.1% interest in Reliance Industries.

According to the plan of arrangement, RIL shareholders would get one share in Reliance Strategic Investments for each share they now own of the company.

Investors should know that this new stock is yet to be traded. Up to the declared listing date, it will continue to trade in the Nifty 50 at the same price. It will be removed from the Nifty 50 index three days after the stock listings.

The organization primarily serves the credit market sector and the NBFC industry. It has strategic goals to broaden its activities into the asset management, insurance, and digital payment sectors.

Isha Ambani has been named a non-executive director on the board of JFSL, while former ICICI executive Hitesh Sethia will serve as the organization's new CEO and MD.