Key Points
Business News/ Markets / Stock Markets/RIL fixes July 20 as record date for equity shares allotment, listing of Reliance Strategic Investments. . Billionaire Mukesh Ambani-backed Reliance Industries (RIL) on Saturday announced the record date for allotment of equity shares in the demerger plan of its financial services business in Reliance Strategic Investments (RSIL)..
It said that the shareholders of the company holding equity shares in physical form are requested to send a letter to the Registrar and Transfer Agent of the Company (, Kfin Technologies) (KfinTech") containing details like name, address, email ID, PAN, contact number, and details of Demat account among others through email, post, speed post, courier, or hand delivery to reach to the KfinTech no later than five working days before the Record Date (i.e., on or before Friday, July 14, 2023) to enable RSIL to issue the Resulting Company New Equity Share(s) in dematerialised form. ..
Further, RSIL also announced on Saturday that the board of directors has approved the appointment of Hitesh Kumar Sethia as the Managing Director and Chief Executive Officer of RSlL for a period of 3 years..
Additionally, in the scheme, JFSL will acquire liquid assets to provide adequate regulatory capital for lending to consumers, merchants, etc., and incubate other financial services verticals such as insurance, payments, digital broking, and asset management for at least the next 3 years of business operations..
JFSL and its subsidiaries (JFS") will leverage the technology capability of Reliance and focus on the digital delivery of financial products to democratize financial services access for 1.4 billion Indians. . Further, JFS plans to launch a consumer and merchant lending business based on proprietary data analytics to complement and supplement the traditional credit bureau-based underwriting..
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