Jio Financial Demerger: Reliance Industries Special Pre-Open Session Today
All existing contracts ending July 27, Aug. 31, and Sept. 28 expired on Wednesday.
Reliance Industries Ltd.'s special pre-open session starts at 9 a.m. on Thursday to determine its share price after Jio Financial Services Ltd. is carved out into a separate listed entity.
The record date—or the cut-off for investors to be eligible to receive Jio Financial Services Ltd.'s shares—is set for July 20. Every investor will get a share of Jio Financial for every one held in the parent.
Reliance Industries' F&O contracts ending July 27, Aug. 31, and Sept. 28 expired on Wednesday.
New futures and option contracts will emerge after share price discovery on July 20, NSE said. Derivatives contracts with Reliance Industries will be introduced again from July 20.
Based on the price determined after after a special pre-market session on the cash market July 20, a minimum of five in-the-money strikes, one at-the-money strike, and five out-of-the-money strikes will be made available to the market. Depending upon the price movement of the shares in regular trading, further strike prices may be made available during the day from within the list issued on July 19.
The list of option strikes from which specific strike prices will be made available for trading on July 20 will be intimated in a separate circular today.
