Jio Financial shares hit lower circuit on debut

New Delhi, August 21

Shares of Jio Financial Services, the demerged financial services unit of Reliance Industries, listed on the bourses on Monday, with the stock falling nearly 5% on the NSE later in the trade.

On the BSE, shares of the company began the trade at Rs 265, up 1.20% against Rs 261.85, the price fixed at a special price discovery session held last month. However, the stock later fell by 3.85% to hit Rs 251.75 — its lower circuit limit — against Rs 261.85.

Shares of the company listed at Rs 262 on the NSE but later declined 4.94% to Rs 248.90 — its lower circuit limit.

The company commanded a market valuation of Rs 1,59,943.93 crore in morning deals.