Jio Financial Services to be listed on stock exchanges on Monday
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BSE has informed trading members of the Exchange that effective from Monday (August 21), the equity shares of Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited) shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities.
The scrip will be in Trade-for-Trade segment for 10 trading days.
The members are requested to note that the above security will be a part of special pre-open session for IPO and Other category of scrips.
The listing is pursuant to the Scheme of Arrangement between Reliance Industries Limited (Demerged Company) & its Shareholders and Creditors & Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited) (Resulting Company) & its Shareholders and Creditors, sanctioned by NCLT Mumbai Bench.
Under the scheme for the transfer and vesting of Financial Service Business of Reliance Industries Limited into Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited); Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited) shall issue and allot Equity Shares to the shareholders of Reliance Industries Limited "1 (One) Fully Paid-Up Equity Share of Rs 10/- each of Jio Financial Services Ltd shall be issued and allotted for every 1 (One) Fully Paid- Up Equity Share of Rs10/- each held in Reliance Industries Limited."
Prior to the Scheme, the paid-up Equity Capital of Jio Financial Services Ltd was Rs 2,02,02,000/- consisting of 20,20,200 equity shares of Face Value of Rs 10/- each and the same shall stand cancelled upon the scheme coming effect.
The issued, subscribed and paid-up equity capital of Jio Financial Services Ltd, post arrangement is Rs 6353,28,41,880/- consisting of 635,32,84,188 equity shares of face Value of Rs 10/- each fully paid.
