Business News: Investors in Reliance have good news! Jio Financials Shares

A good news has come out for the shareholders of Reliance Industries, in fact, after the demerger of Jio Financial Services from Reliance Industries, the shares of JFSL i.e. Jio Financial Services Limited have started getting credited in the Demat Account of the shareholders.

Same numbers of shares given as Reliance Industries

According to the demerger plan from Reliance Industries to the financial business, such shareholders who held the same number of Reliance Industries shares on the record date of July 20, 2023 were allocated the same number of Jio Financial shares. Even when Jio Financial shares have arrived in investors' demat accounts, they cannot be exchanged. 

Share trading will be available only if Jio Financial is listed on the stock exchange. The company's listing date has not yet been disclosed. Chairman Mukesh Ambani is likely to announce the timing of Jio Financial's offering at Reliance Industries' AGM on August 28, 2023.