Reliance share price surges 2.5% on Jio Financial Services demerger record date news

Reliance Industries Ltd (RIL) saw a surge in its share price following the company's announcement of the demerger of Jio Financial Services. 

The record date for the demerger has been set for July 20, 2023. Today, Reliance's share price opened higher and reached an intraday high of ₹2716.70 on the NSE, coming close to its all-time high of ₹2755 per share.

Reliance Industries provided additional details, stating that the effective date of the scheme is July 1, 2023. As per the scheme, Reliance Strategic Investments Limited (RSIL) will issue one fully paid-up equity share of RSIL, with a face value of ₹10 each, for every fully paid-up equity share of ₹10 each held by shareholders of the company. This allocation will be made to shareholders whose names are recorded in the register of members and/or the depository's records as of the record date.

Content source: Media reports

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