{"id":107704,"date":"2023-08-22T13:38:39","date_gmt":"2023-08-22T08:08:39","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=107704"},"modified":"2023-08-22T13:38:40","modified_gmt":"2023-08-22T08:08:40","slug":"through-the-demerger-procedure-lic-acquires-a-6-66-stake-in-jio-financial-services","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/through-the-demerger-procedure-lic-acquires-a-6-66-stake-in-jio-financial-services\/","title":{"rendered":"Through the demerger procedure, LIC acquires a 6.66% stake in Jio Financial Services"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2313654018\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/LICI\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Life Insurance Corporation<\/a><\/strong> (LIC) on Tuesday said it has acquired a 6.66 per cent stake in Jio Financial Services, the demerged non-banking financial services unit of the Mukesh Ambani-led Reliance group.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1856194660\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>&#8220;&#8230; Corporation has acquired 6.660 per cent shareholding in &#8216;<strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/JIOFIN\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Jio Financial Services Ltd<\/a><\/strong>&#8216; through demerger action by &#8216;Reliance Industries Ltd&#8217;,&#8221; LIC said in a regulatory filing.<\/p><p>Jio Financial Services was listed on the stock exchanges on August 21. The market capitalisation of the financial services company stood at close to Rs 1.60 lakh crore.<\/p><p>The LIC further said that the cost of acquisition of Jio Financial Services is 4.68 per cent of the pre-demerged cost of Reliance Industries.<\/p><div class=\"trade-content_5\" id=\"trade-2077590661\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Shares of Jio Financial Services were trading at Rs 239.20 apiece, down 4.99 per cent, hitting the lower circuit limit for the second straight session on the BSE.<\/p><p>On August 21, The scrip listed at Rs 265 on the BSE, up 1.20 per cent against the Rs 261.85 &#8212; the price fixed at a special price discovery session held last month. The stock later declined 3.85 per cent to hit Rs 251.75 &#8212; its lower circuit limit.<\/p><div class=\"trade-after-content\" id=\"trade-381404640\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Life Insurance Corporation (LIC) on Tuesday said it has acquired a 6.66 per cent stake in Jio Financial Services, the demerged non-banking financial services unit of the Mukesh Ambani-led Reliance group. &#8220;&#8230; Corporation has acquired 6.660 per cent shareholding in &#8216;Jio Financial Services Ltd&#8216; through demerger action by &#8216;Reliance Industries Ltd&#8217;,&#8221; LIC said in a [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":23474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-107704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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