Reacting to the news, shares of Jio Financial rose as much as 0.7% to ₹221.75 on the BSE, while the market capitalisation climbed to ₹1.4 lakh crore. Early today, the NBFC stock opened marginally lower at 219.55, against the previous closing price of ₹220.25 on the BSE.  

The Reliance group stock had gained over 2% in the previous session amid a report that billionaire Mukesh Ambani-led firm looked to raise between ₹5,000 crore to ₹10,000 crore through its maiden bond issue, which was later refuted by the company.

The exchange has sought clarification from the company in this regard. In its clarification of the BSE, JFS says, “Currently, the company has no plans to raise money by way of bond issuance or otherwise. The news item is speculative.”

The NBFC stock, the third largest in terms of market capitalisation after Bajaj Finance and its holding company Bajaj Finserv, 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.

Jio Financial shares have witnessed tepid performance since its listing on the exchanges in August this year. In the initial days, the stock was under tress amid sell-off by passive funds, who adjusted their portfolios from the removal of the stock from Sensex and Nifty. 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.