Last September, Reliance Industries proposed spinning off its digital fintech division, gaining shareholders’ approval in May and final approval from the National Company Law Tribunal in June. The demerger ratio is 1:1, with each Reliance Industries shareholder receiving one JFSL share if held on or before July 19. On July 20, Reliance Industries informed shareholders that the post-demerger cost of acquisition of RIL shares is 95.32 per cent and RSIL share is 4.68 per cent.
Also read: BL Explainer. What does the demerger of Reliance Industries and Jio Financials mean to investors
The shares of Reliance Strategic Investment, the demerged entity, was valued at ₹262 at the end of a special trading session on stock exchanges. The Reliance Industries shares went up by 1.19 per cent to Rs 2619.75 at 01:35 p.m. on the BSE.