Jio Financial Services opened 1% higher on November 21 on a report that the Reliance Industries group company is planning its maiden bond issue. The stock closed at Rs 215.5 on the National Stock Exchange (NSE) the previous , down 2.4 percent. At 10:50 am, the stock was trading at Rs 222.75, around 3.36 percent higher.
According to news agency Reuters, Jio Financial Services was in early talks with merchant bankers for its maiden bond issue. The report, citing four sources, said the company could be looking to raise around Rs 5,000 crore to Rs 10,000 crore through the issue and "may tap the market in the last quarter of the year".
Also read: Jio Financial Services in talks for maiden bond issue, say bankers
Jio Financial Services was in the process of getting approvals and a credit rating, the report added. The company is yet to respond on the report.
Also read: Jio Financial Services lists on NSE at Rs 262 a share
Jio Financial Services was listed on BSE and NSE in August this year. The stock listed at Rs 265 on the BSE and Rs 262 on the NSE. In Q2FY24, the company reported a net profit of Rs 668 crore, a 101 percent gain from the previous quarter.
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