The demerged entity of Mukesh Ambani-led Reliance Industries, Jio Financial Services Ltd (JFSL), debuted on the bourses today. The stock listed at Rs 262 on the National Stock Exchange (NSE) and Rs 265 on the Bombay Stock Exchange (BSE) is a marginal increase over its derived price of Rs 261.85.

The share price for Jio Financial Services was determined in a special trading session held on July 20. The stock touched an intraday high of Rs 278.20 on the BSE and Rs 262.05 on the NSE. 

Soon after the listing, the shares of JFSL hit a lower circuit of 5% to an intraday low of Rs 248.90 on the NSE amid selling pressure. The market capitalisation of the company stood at around Rs 1.59 lakh crore. 

Under the demerger scheme, eligible Reliance Industries shareholders received one share of JFSL for every share held in RIL. Reliance Industries also saw its shares trading down by nearly 1% at Rs 2,533.50. 

For the first 10 trading sessions, the stock will be trading under the Trade-To-Trade (T2T) segment in the ‘T’ group securities on BSE, which means there will be no intraday trading of the JFS shares. It will also be removed as the 31st stock on the BSE Sensex and the 51st stock on the NSE Nifty 50 on the third day of its listing.