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

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

Billionaire Mukesh Ambani’s Reliance Industries Limited on Friday said it will demerge its financial services arm and list it on the stock exchanges. In a statement, the firm said Reliance shareholders will be issued one equity share of Jio Financial Services Limited (JFSL) for every share they hold in the…