Reliance starts special trading session to set Jio Financial price
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Shares of India's Reliance Industries started trading on Thursday in a special session aimed at determining the share value of Jio Financial Services, its demerged financial services unit.
Reliance's stock had closed at 2,841.85 rupees on Wednesday.
India's two main stock exchanges are holding a "pre-open call auction" session for Reliance between 9:00 a.m. to 10.00 a.m. IST (0330-0440 GMT).
A share price for Reliance Strategic Investments, which will be renamed Jio Financial Services, will be determined by calculating the difference between Reliance's last close and the stock's settling price at the end of the special session.
Reliance announced the demerger last October.
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