RIL has fixed July 20 as the record date to determine eligible shareholders for the allotment of shares of the demerged entity. Under the demerger, shareholders of RIL will get 1 share of the demerged entity Reliance Strategic Investments for every 1 share held by them in the conglomerate.
The demerged entity will be renamed Jio Financial Services and listed on the stock exchanges. The spun-off entity will be included in Nifty 50 and few other indices for a brief period until it gets officially listed on the stock exchanges, NSE said in a release.
This inclusion is in lieu with the change in the index methodology regulations laid out by the exchange while considering mergers and demergers in index constituents.