Shares of Jio Financial Services are purchased by Motilal Oswal Mutual Fund for Rs. 754 crore
3.72 crore shares of Jio Financial Services Ltd (JFSL) were purchased by Motilal Oswal Mutual Fund (MF) for 754 crore in an open market transaction.
Motilal Oswal Mutual Fund acquired 3,72,00,000 shares, or 0.6% of Jio Financial Services, according to NSE data. The average cost per share for the shares purchased was Rs 202.80, for a total transaction value of Rs 754.41 crore.
On the NSE, shares of Jio Financial Services finished 3.82% higher at 221.60 each. Jio finance Services, the former Reliance Industries finance business, launched on August 21. In contrast to the found price of Rs 261.85 per share, the stock was listed for Rs 265 on the BSE and Rs 262 on the NSE.
The stock fell to its lower price band of Rs 251.75 on the BSE after hitting the lower circuit by 5%. On the NSE as well, it touched its bottom price range of Rs 248.90.
After the shares of Jio Financial Services fell by 5% for two further days in a row, the shares’ removal from the BSE and other indexes was prolonged till August 31.
Before the start of trading on September 1st, Jio Financial Services stock will now be eliminated from all S&P BSE indexes, including the Sensex, Sensex 50, BSE 100, and BSE 500 among others.
The removal of JFSL from all S&P BSE Indices will be delayed by an additional 3 days since the stock reached lower circuit restrictions on Thursday, August 24, 2023, and Friday, August 25, 2023. JFSL will now be eliminated from all S&P BSE Indices before to the start of trading on Friday, September 01, 2023, according to a circular from BSE Indices.
