According to an exchange notification posted on Friday, shares of Jio Financial Services Ltd (JFSL), formerly Reliance Strategic Investments Ltd, will be listed on the bourses on August 21, 2023. 

Following the news, Reliance Industries Ltd (RIL) shares surged more than 2% to an intraday high of Rs 2,577.60. Domestic equity benchmark indices, the BSE Sensex and NSE Nifty50, also witnessed a sharp surge. 

The Bombay Stock Exchange (BSE) informed trading members in a notice that the equity shares of Jio Financial Services will be listed and admitted to dealings on the Exchange in the T Group of Securities list effective Monday, August 21, 2023. The BSE added that it will be in the trade-for-trade segment for 10 trading days.

Earlier last week, RIL shareholders eligible to receive shares of Jio Financial were credited JSFL shares in their demat accounts in a 1:1 ratio. 

Jio Financial Services is currently listed under a dummy ticker at a special price of Rs 261.86 apiece, derived during the discovery session held on July 20. There is no trading happening at the scrip. It has been added to the BSE Sensex, Nifty50, and other indices and will be removed from all indices 3 days after its listing. 

Jio Financial Services primarily operates in the NBFC market and credit market segment and will offer a broad range of financial services, including insurance, digital payment, and asset management verticals through its operating subsidiaries and joint ventures.

The company partnered with Blackrock, the world’s largest asset manager, to float a mutual fund company with a total initial investment of $300 million.