After a dedicated one-hour price discovery session, Jio Financial Services, the separated financial services unit of Reliance Industries Ltd., has recorded an implied price of Rs 261.85 per share. This implied price exceeds the cost price indicated by the company, which was Rs 133.

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Furthermore, following the exclusion of Jio Financial Services, shares of Reliance Industries commenced trading at Rs 2,580, a decrease from the previous day's closing price of Rs 2,842.

Speaking exclusively to CNBC-TV18, Abizer Diwanji, Partner & National Leader Financial Services at EY India discussed Jio's chances of disrupting the financial services landscape and its advantageous position in the digital expansion era.

He said, “It’s too soon to take a call, but Reliance as a group has been disruptive in most businesses that they have entered. We have seen that in retail, in petrochem and we will possibly see that in financial services.”

Nevertheless, he emphasised a significant point that sets it apart -- it possesses an available capital of Rs 125,000 crore, a rarity among most non-banking financial companies (NBFCs).

Meanwhile, Digant Haria, Co- Founder at Greenedge Wealth Services said that amidst all the excitement and anticipation surrounding the Rs 1 lakh crore net worth of the company, there are expectations that it could swiftly create a Rs 5 lakh crore portfolio and revolutionise the entire industry. However, I remain skeptical about the likelihood of such ambitious developments taking place.

Ashvin Parekh, Managing Partner at Ashvin Parekh Advisory Services said that with its (Jio Financial) extensive bandwidth already in place, it can focus on enhancing the existing payments services. Additionally, having an existing customer base enables the company to venture into customer finance and potentially explore insurance offerings in the future. Given the substantial balance sheet size, it has the potential to delve into various segments over time, except for banking. However, it may even consider banking services if regulations evolve favourably in the future.

According to Ashwini Agarwal, Founder & Partner at Demeter Advisors, he is uncertain if Jio Financial Services will have an immediate and significant competitive influence on the industry, as the market is vast enough to accommodate multiple players. Nevertheless, he acknowledges that larger players might take this as an opportunity to evaluate their strategies since a substantial competitor has emerged. While these developments make for intriguing times, he believes there is no need for excessive concern in the short run.

As the financial services landscape continues to evolve rapidly, both traditional institutions and new players must adapt to the changing demands of consumers and embrace technological advancements. Whether Jio Financial Services emerges as a true disruptor or merely reshapes the sector's dynamics remains to be seen, but its formidable presence serves as a reminder that the industry's future lies in embracing digital transformation and customer-centric innovation.

Disclosure:

RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

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(Edited by : C H Unnikrishnan)