Reliance Industries Ltd announced the demerger of Jio Financial Services.

The share price of Reliance Industries witnessed strong buying interest.

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Reliance share price reached a new 52-week high of ₹2756 per share.

Reliance's market cap crossed ₹18 lakh crore.

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The demerger record date for Jio Financial Services is July 20, 2023.

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The effective date of the demerger scheme is July 1, 2023.

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Reliance Strategic Investments Limited will issue new equity shares to shareholders.

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Estimated share prices for Jio Financial Services range from ₹179 to ₹189.

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The listing of Jio Financial Services is expected by the end of August 2023.

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