Just a view Jio financial:
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RIL is transferring 41.28cr shares (held by RIIH on behalf of RIL) to Jio financial, on the current market prices it is worth 1Lak Cr.
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Jio Financial demerger rationale could be an aggressive expansion of the financial services division without hampering the debt profile of the consolidated entity & the RBI rule of mandatory listing on exchanges post crossing a networth of 500cr.
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It is very interesting to note Piramal enterprise after their pharma demerger, became a pure play financial services company.
- Ajay Piramal confirmed that Anand Piramal is involved in the financial services business & will be heading it after him.
- Piramal Finance has a large presence across financial services which could take years to build for Jio Financials.
-Speculation: Since Anand Piramal is the son-in-law of Mukesh Ambani, There is a decent chance that Jio Financial & Piramal Finance could merge.
On a price-to-book multiple of 3x & considering the networth to be about 1lakcr, JIO financial could probably be valued at 3lakcr.
Disclosure: No holdings.
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