Jio Financial Services Demerger Shareholders Likely to Get Richer Once Stocks List; Mukesh Ambani’s company to be independent, Nifty 50 ticket to JFSL; What is the benefit to investors?
Demerger of Reliance Jio Financial Services Limited
The record date for Reliance Strategic Investments demerger is July 20 and if you want Jio Finance shares, you need to buy Reliance Industries shares by July 19. While Reliance Strategic Investments will be renamed as Jio Financial, Jio Fin will be listed on the stock market and the listing date is yet to be announced. One share of RSIL will be available for one share of RIL.
What the stock exchange said…
NSE said that apart from Nifty50, Jio Financial Services will be included in 18 other indices including Nifty 100, Nifty 200, Nifty 500. Note that Reliance announced the merger of its financial services venture with Reliance Strategic Investments Limited (RSIL) and will be relisted as Jio Financial Services Limited (JFSL) on a record date last Saturday.
In such a case, each shareholder of Reliance will get one share of the new firm for every share of the parent company. The company will lend to consumers and businesses based on asset data analysis. Later it will also offer insurance, payments, digital broking and asset management services.
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What will be the effect on the shareholders of Reliance?
After the demerger, shareholders of Reliance Industries Ltd will get one stock of Jio Financial Services for every one share held, the company said. However, the company has not given any information about when the shares of Financial Services will be deposited in the demat account of the shareholders and when they will be traded in the market.
