"This high price is a reflection of the markets assessment of Jio Financials potential. The wide reach of JFSL through RILs other business segments like Reliance Retail has the potential to grow the company at a fast pace for many years to come. The market is discounting this potential," said Dr. V K Vijayakumar of Geojit Financial
RIL has fixed July 20 as the record date for the share allotment of the demerged entity Reliance Strategic Investments Ltd to its shareholders. Under the demerger, shareholders of RIL will get one share of Reliance Strategic Investments for every share held in the conglomerate.
Mukesh Ambani’s Reliance hives off O2C business ahead of Aramco deal
BCCL
Reliance Industries Limited announced the demerger of its oil-to-chemicals (O2C) business into a wholly-owned subsidiary. Reorganisation of O2C business facilitates participation by strategic investors and marquee sector focused investors, it added.
Mumbai-headquartered oil major also announced that it aims to work with the O2C business to reduce its carbon footprint and become net carbon zero by 2035.
Mukesh Ambani-owned Reliance Industries Limited, India s most valuable company, announced the demerger of its oil-to-chemicals (O2C) business into a wholly-owned subsidiary.
In a late-night filing to stock exchanges, the company said the reorganization would enable a focused pursuit of opportunities across the O2C value chain, improved efficiencies through a self-sustaining capital structure.