Reliance Strategic Investments Ltd (RSIL) on Thursday will be demerged from Reliance Industries Ltd (RIL) and renamed as Jio Financial Services (JFSL).
On July 8, the conglomerate announced that the National Company Law Tribunal (NCLT) had approved the planned demerger and July 20 would be the record date for allotment of equity shares. The share ratio for the demerger process is 1:1, which means that RIL shareholders as of the record date will be eligible to receive one share of JFSL for every one share of RIL held. As on March 2023, RIL had 36.39 lakh shareholders, according to Bombay Stock Exchange data. For an investor, Wednesday was the last date for buying the RIL shares to be part of the demerger process and become eligible for the allotment of shares of JFSL.
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