Shares of Jio Financial Services (JFS), the financial services arm of billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL), will be in focus today amid a report that the company is planning to raise between ₹5,000 crore to ₹10,000 crore through its maiden bond issue. The company is reportedly in talks with merchant bankers and is looking to launch the issue in the March quarter of the current financial year 2023-24.

Snapping two sessions losing streak, Jio Financial shares opened marginally higher at ₹217.25 against the previous closing price of ₹215.60 on the BSE. In the early trade, the NBFC heavyweight gained as much as 0.85% to ₹217.45, while the market capitalisation rose to ₹1.38 lakh crore. The company is the third largest NBFC after Bajaj Finance and its holding company Bajaj Finserv in terms of market capitalisation.

The counter hit an all-time high of ₹278.20 on August 21, 2023, while it touched its record low of ₹205.15 on August 25, 2023.

JFS shares officially debuted on the stock exchanges on August 21, after spending a month as a dummy stock following demerger from the parent. The stock was listed at ₹262 on the NSE and ₹265 on the BSE against its discovered price of ₹261.85 fixed at a special pre-open session conducted by the NSE on July 20.