After the demerger of Jio Financial Services again listing, the shareholders will get lottery!

Reliance Demerger Plans: The shareholders of the country’s largest private company Reliance Industries are going to get a big gift soon. The company will demerge its financial services business in the name of Jio Financial Services Company and get it listed on the stock exchange.

Reliance Industries is seen as a value creator that has generated multibagger returns to its shareholders over the decades. On October 21, 2022, while announcing the quarterly results, the company announced that the shareholders of Reliance Industries would get one share of Jio Financial Services for every Reliance share. Reliance Industries is the largest company in the country in terms of market cap in the stock market. The market cap of Reliance is Rs 16.52 lakh crore.

JP Morgan has said in a note that the demerger of Jio Financial Services is a positive step. Reliance’s strength in the digital and retail sector will benefit Jio Financial Services tremendously. Jio Financial Services is aiming to become a leading financial technology company on the basis of digital lending services. The company will also expand into insurance, stock broking and asset management services along with consumer merchant lending products in the coming days.

The board of Reliance Industries has approved the demerger. And after the demerger of financial services company Reliance Strategic Investment Limited (RSIL), the company will be listed on the stock exchange with the new name Jio Financial Services. Presently RSIL is a subsidiary of Reliance Industries and is a Non Deposit NBFC (Non Banking Finance Company).

In Tuesday’s trading session, the stock of Reliance Industries closed at Rs 2441, down 1.54 per cent. Many brokerage houses are extremely bullish on the stock of Reliance Industries.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *