LIC acquires 6.66% shareholding in Jio Financial Services through demerger action

LIC has acquired a 6.660% shareholding in Jio Financial Services Ltd. through a demerger action by Reliance Industries Ltd. LIC said that the cost of the acquisition of shares is 4.68% of the pre-demerged cost of Reliance Industries Limited as per the notice of the company dated July 19, 2023 to the stock exchanges.