Finance

NCLT Approves Demerger of Reliance Strategic

NCLT Approves Demerger of Reliance Strategic- Company will soon be listed as Jio Financial Services Limited (JFSL)

Reliance Strategic Will Soon Be Listed As Jio Financial Services Limited (JFSL)

The National Company Law Tribunal (NCLT) has approved the demerger of Reliance Strategic Investments Limited (RSIL) from Reliance Strategic Investments Limited (RSIL). 

RIL in a disclosure informed people, “We wish to inform you that the National Company Law Tribunal, Mumbai Bench (NCLT), vide its order dated June 28, 2023, has sanctioned the scheme.”

Read More:- Swipe Machines: Driving Efficiency and Accuracy in Financial Transactions

RIL has planned to demerge its financial services Reliance Strategic Investments Limited (RSIL) and list it as Jio Financial Services Limited (JFSL). RIL along with RSIL will work together to plan the demerger, fix record date for allotment and listing of equity shares of  Reliance Strategic Investments Limited (RSIL). 

Though no timeline has been given by Reliance on this, it is expected to come up with a decision soon, some analysts expect it to list by October. The share of RIL was also seen in the green with an upward movement on Friday. 

Read More:- HUDA City Centre Metro Station To Be Renamed As Millennium City Centre Gurugram

Once the demerger comes into effect and RSIL is listed as a separate entity, it will become the fifth-largest financial service company by net worth, noted Macquarie in a report. This will also help the companies attract different set of investors and forge more strategic partnerships and stakeholders.

Liked this post?
Register at One World News to never miss out on videos, celeb interviews, and best reads.

Harshita Bajaj

Harshita has a background in Psychology and Criminology and is currently pursuing her PhD in Criminology. She can be found reading crime thrillers (or any other book for that matter) or binge-watching shows on Netflix when she is not in hibernation.
Back to top button