Who are buying JIOFIN

Since JIOFIN is listed, hitting lower circuits and possibly continuing for next few days. Sellers are obvious but Curious to know who are buying JIOFIN despite knowing the scenario?

No One is Buying hence it is in lower circuit. You Can see the market depth here

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If no one was buying, then volume traded would have been zero.

However, the traded volume till now is 22 lakh shares, so someone is indeed buying.

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Sorry My Bad :smiling_face_with_tear:

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Trying to analyze buyers mindset. What they are thinking?

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I read somewhere that LIC has picked up 6.6% stake in Jio Financial via open market.

upper circuit coming very soon :rocket: :rocket: :rocket:

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Mutual Funds

LIC already had 6.6% stake in Reliance, so they get 6.6% stake in JIOFIN like everyone else.

I think over long term it will pickup very good

Hit UC almost

Those who believe Reliance can be a disruptor everywhere. But the Financial services industry is different. Its highly regulated sector which will tie Reliance’s hands.

Motilal Oswal has also invested in the company when it was in lower circuit near 200

I was waiting for one more LC. Nevermind.

Maybe on the day when it exits from Nifty 50 index.

Can we expect any more selling?

Once it is out of the index, the index specific MF will not invest in it, so it is obvious that the valuation will be down.
But what are the chances of JIOFIN coming back to the NIFTY 50 (based on free float market cap)?

If JIOFIN meets the selection criteria specified by the exchange then it’ll be added to the index during the semi-annual review. This is the Nifty 50 eligibility criteria. You can check more details on this here.

Now JIOFIN market cap is around 1.6T which makes its parent company Reliance’s valuation around 30T (as per ~5% of pre demerger value of JIOFIN).
Is it so or am I doing wrong calculation.