Mukesh Ambani Latest News: There is good news for stock market investors. Another company, Mukesh Ambani, will be listed in the stock market. The National Stock Exchange on Monday said Jio Financial Services Ltd, a separate unit of Mukesh Ambani-led Reliance Industries Ltd (Jio Financial Services Ltd), will be included in the Nifty 50, among other indices, from July 20. The stock exchange said a special pre-open session would be held on July 20.
What Did NSE Say
NSE said that apart from the Nifty 50, Jio Financial Services will be included in 18 other indices, including Nifty 100, Nifty 200, and Nifty 500. Let us tell you that Reliance had announced the splitting of its financial services venture into Reliance Strategic Investments Limited (RSIL) and renaming it for listing as Jio Financial Services Limited (JFSL).
For this, the record date was fixed last Saturday. Each shareholder of Reliance will get one share of the new firm for every share of the parent company. The company will provide loans to consumers and businesses based on property data analysis. Later it will also offer insurance, payments, digital broking and asset management services.
Who’s Who Involved in Management
Mukesh Ambani’s daughter Isha and former Comptroller and Auditor General (CAG) Rajiv Mehrishi have been inducted on the board of directors of Jio Financial Services. Isha Ambani has been appointed as the non-executive director.
Reliance executive Anshuman Thakur has also been made non-executive director. The company said former bureaucrat Rajeev Mehrishi, Home Secretary and CAG, has been appointed an independent director in RSIL for five years.
