Reliance Industries shares surge 4% following the announcement of the record date for Jio Financial demerger.
Record date set for Jio Financial demerger as July 20, 2023.
Reliance Industries shares reach Rs 2,753.80, close to the 52-week high of Rs 2,756.
Reliance Strategic Investments Ltd (RSIL) to be demerged and renamed as Jio Financial Services Limited (JFSL).
Hitesh Kumar Sethia appointed as the managing director and CEO of Reliance Strategic Investments for a three-year term.
Isha Ambani, daughter of Mukesh Ambani, to be appointed as a non-executive director of Jio Financial Services.
Anshuman Thakur also appointed as a non-executive director of Jio Financial Services.
Rajiv Mehrishi, former home secretary and CAG, appointed as an independent director on RSIL for five years.
Sunil Mehta, CEO of Indian Banks' Association, and Bimal Manu Tanna, a chartered accountant, appointed as independent directors on RSIL.
Reliance Retail board approves reduction of equity share capital held by non-promoter shareholders, with a payment of Rs 1,362 per share.
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