Jio Financial demerger: Cost of acquisition of RIL share implied at 95.32%

As per RIL’s last closing price of Rs 2,853, the implied value of the ex-demerged entity is Rs 2,707 and that of RSIL is Rs 133

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Reliance Industries on July 20 informed shareholders that the post-demerger cost of acquisition of RIL share is 95.32 percent and RSIL share is 4.68 percent.

“You are advised to apportion your pre-demerger cost of acquisition of equity shares in the company in this manner,” RIL said in an exchange filing.

RSIL stands for Reliance Strategic Investments Limited, set to be demerged from RIL on July 20. It will be renamed Jio Financial Services (JFS) and be listed on exchanges at a later date.

As per RIL’s last closing price of Rs 2,853, the implied value of the ex-demerged entity is Rs 2,707 and that of RSIL is Rs 133.

“This communication is for the benefit of the shareholders and the company takes no express or implied liability in relation to this guidance,” the filing added.

According to the scheme of arrangement, shareholders of RIL will get 1 share of the demerged entity Reliance Strategic Investments for every 1 share held by them in the conglomerate.

Between 9 am and 10 am today, NSE will hold a special pre-open session for RIL to discover its price ex-demerged entity. The difference between the discovered price and RIL’s last closing price of Rs 2,853 will be used to include RSIL or JFS as the 51st entity on Nifty 50.

Also Read: MC Explains: What the special pre-open session for RIL is all about and what it means for Nifty 50

But investors should note that this new stock is not tradeable yet. It will remain in Nifty 50 at a constant price till the listing date is announced. It will be removed from Nifty 50, three days after the stock lists.

Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.​