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Reliance shares rise after demerger announcement

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  • Reliance Industries announced the demerger of its financial services undertaking into a separate entity — Reliance Strategic Investments (RSIL) — which will be renamed Jio Financial Services Limited (JFSL) and listed on the stock exchanges.
  • Separately, the company’s board also approved a scheme of arrangement under which the EPC and infrastructure undertaking of Reliance Projects and Property Management Services (RPPMSL), a wholly-owned subsidiary, will be demerged into RIL.
  • This demerger, together with the existing EPC team in RIL, will create a focused EPC undertaking in RIL to cater to the needs of the group.

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