Reliance Industries Ltd announced the demerger of Jio Financial Services.

The share price of Reliance Industries witnessed strong buying interest.

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

Reliance's market cap crossed ₹18 lakh crore.

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

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

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

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

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

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