Reliance spin-off Jio Financial's share price set well above estimates
The share price of Jio Financial Services (JFS), the demerged financial services unit of Reliance Industries (RELI.NS), was set at a much higher-than-expected 261.85 rupees ($3.19) during a special trading session for the parent company's stock on Thursday.
Analysts had estimated the share price of Reliance Strategic Investments, which will be renamed Jio Financial Services, would be valued at between 160 rupees and 190 rupees per share. Image Source: Reuters