New Delhi: Reliance Industries has introduced plans to demerge its financial offerings challenge into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL). The demerger of Jio Financial Services Ltd has been authorized by NCLT, and RIL has constant July 20 because the report date.

Record Date For Jio Financial Demerger

In a BSE submitting on July 8, RIL stated, “This is to inform that Thursday, July 20, 2023 has been constant as Record date for the cause of figuring out the fairness shareholders of the Company entitled to obtain the equity shares of Reliance Strategic Investments Limited pursuant to the Scheme of Arrangement between Reliance Industries Limited and its shareholders and lenders & Reliance Strategic Investments Limited and its shareholders and lenders.”

RIL had stored the Effective Date of the Scheme as July 1, 2023.

What Will Reliance Shareholders/Investors Get?

The Company had further delivered, “according with provisions of the Scheme, Reliance Strategic Investments Limited (“RSIL”) shall issue and allot 1 (One) absolutely paid-up equity percentage of RSIL having face fee of Rs 10 (Rupees Ten) every for each 1 (One) fully paid-up equity share of Rs 10 (Rupees Ten) every of the Company (“Resulting Company New Equity Shares”) to the shareholders of the Company whose names are recorded in the sign in of individuals and / or statistics of the depository as on the Record Date”.

 

Can You Really Get Jio Financial Services Limited (JFSL) For Free?

As in keeping with the organisation announcement on Demerger of Jio Financial Services Ltd, RIL has set the ratio for demerger at 1:1. This approach, for each share of RIL held before the record date, the company will award 1 percentage of JFSL.

 

Jio Financial Services Limited (JFSL) Demerger: What Is The Importance Of Record Date

Record date can also be defined as the reduce off date or the deadline set by using a enterprise or a organisation to become aware of which shareholders are qualified to receive a sure dividend or price. Since RIL has constant July 20 as the document date for Jio Financial Services Limited, today i.E July 19 is ex-report date. Hence, everyone who bought RIL stock after July 19 not get the percentage. In different words, July 19 being the ex-file date, today is the final date to shop for the shares.

 

When Will Jio Financial Services Limited Be Listed?

You can best see your share status after Jio Financial Services Limited is listed. The monetary commercial enterprise of Reliance Strategic Investments will list one after the other and could be named JFSL publish-listing. The JFSL is anticipated to get indexed inside the subsequent 2-three months.

On July 21, the company will reveal Q1FY24 earnings, according to its statement. The inventory has improved 7.9% inside the final month. Reliance Industries will now have a 6.1 percentage interest in JFSL when RIL’s finance operations are transferred there, in keeping with Axis Securities as reported by means of information Agency IANS.

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