Reliance will demerge and list its financial services business.

HomeBusinessReliance will demerge and list its financial services business.

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October 22, 2022

On Friday, Reliance Industries (RIL) announced the demerger of its financial services business into Reliance Strategic Investments (RSIL), which will be called Jio Financial Services Limited (JFSL) and traded on public exchanges.
The company’s board also authorised a scheme of arrangement to demerge RPPMSL’s EPC and infrastructure business into RIL.
This demerger and RIL’s EPC team will build a group-focused EPC operation.
RSIL is an RBI-registered non-deposit-taking systemically important (ND-SI) non-banking financial firm owned by RIL.
The financial services business’s March 31, 2022 turnover was Rs 1,387 crore, 0.3% of RIL’s total.