Shares of Jio Financial Services (JFS), the financial arm of Reliance Industries Limited (RIL), will be listed on the stock exchanges starting Monday. JFS was spun off by RIL with an initial stock price of Rs 261.85, valuing the company at around Rs 1.66 lakh crore ($20 billion). The listing places JFS as the second-largest NBFC and the 32nd most valuable company in India. It was added to indices like Nifty50 and BSE Sensex before listing. FTSE Russell initially decided to drop JFS from its indices but later reversed the decision, including it in the MSCI Global Standard Index.
Jio Financial Services will go public on August 21
![](https://affairsace-media.s3.ap-south-1.amazonaws.com/2023/08/19040014/Jio_Share.jpg)