Create Post
Jio Financial Services: Valuation, Size And More
In one of many shareholder value-unlocking exercise expected in #RelianceIndustriesLtd., the National Company Law Tribunal has asked the company to seek nod from creditors and shareholders nod on May 2 for spinning off financial services business. That will pave the way for the NCLT to give its final approval to the scheme of arrangement under which those holding shares of Reliance Industries as on April 25, 2023 will get an equal number of shares of #JioFinancialServicesLtd. If all clearances come through, the Jio Financial Services shares could list on the stock exchanges by September. RIL had assets of Rs 1,08,597 crore at the end of FY22 under the financial service category. RIL had indicated these shares will be monetised to fund future capital requirement of #Jio Financial Services. Based on the net worth of the Jio Financial Services, the businesses is valued at Rs 43.84 per share. The financial services spinoff is unlikely to unlock much value for the Reliance Industries as the size of the business is not much, according to brokerages. Source -https://www.bqprime.com/business/jio-financial-services-valuation-size-and-more
- 1
- 0
- ₹0
