Reliance to Demerge Financial Services Arm, List Jio Financial Services on Stock Exchanges

Reliance Industries on Friday announced that it would demerge the company's financial services arm which would be listed on the stock exchanges, while shareholders would be issued one equity share of Jio Financial Services Ltd (JFSL) for every share they held in the company. The transaction is subject to customary statutory and regulatory approvals, including from NCL...

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