Monica Malik Instagram – Big news! Reliance Industries is demerging its financial services business to form Jio Financial Services Limited. This means JFSL will become a separate entity and hold investments in Reliance Industrial Investments and Holdings Limited (RIIHL), which indirectly owns a 6.1% stake in Reliance Industries. Shareholders of Reliance Industries will receive one share of JFSL for each share they hold.
Reliance Industries has fixed July 20 as the record date for determining the eligibility of RIL shareholders for allocation of shares of Jio Financial Services Limited.
This move allows Jio Financials to have more growth opportunities and be valued like other companies in the industry. It’s all part of Reliance Industries’ plan to unlock the value of its financial services investments.
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