Jio Financial Services may rise at the start of trading on November 21 on news that the Reliance Industries group firm is contemplating its first bond offering. The previous day, the stock finished at Rs 215.5 on the National Stock Exchange (NSE), down 2.4 percent.
According to Reuters, Jio Financial Services was in preliminary talks with merchant bankers about its first bond issue. According to the article, which cited four individuals, the corporation may be trying to raise between Rs 5,000 and Rs 10,000 crore through the offer and "may tap the market in the fourth quarter of the year."
According to the article, Jio Financial Services was in the process of obtaining permissions and a credit rating. The corporation has not yet responded to the report.
In August of this year, Jio Financial Services was listed on the BSE and NSE. The stock was floated on the BSE for Rs 265 and the NSE at Rs 262. The company posted a net profit of Rs 668 crore in Q2FY24, a 101 percent increase over the previous quarter.
