<p>Reliance Industries on Friday said it would hold its much-anticipated annual general meeting of shareholders on August 28, where it is expected to give details on the listing of the recently spun-out Jio Financial Services (JFS).</p>.<p>Last month, Reliance demerged JFS, which was valued at around $20 billion after its stock price was set at a much higher-than-expected 261.85 rupees ($3.19)</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/reliance-jumps-16-places-now-at-number-88-on-fortune-global-500-list-1243259.html">Reliance jumps 16 places, now at number 88 on Fortune Global 500 list</a></strong></p>.<p>The demerger, which was announced last October, is seen as the oil-to-retail conglomerate's way of expanding in the lucrative financial services sector, especially as it already has a non-bank financial company licence.</p>.<p>In the just-ended June quarter, Reliance reported a wider-than-expected drop in profit after weak demand and a steep fall in refining margins hurt its flagship oil-to-chemicals (O2C) business. </p>
<p>Reliance Industries on Friday said it would hold its much-anticipated annual general meeting of shareholders on August 28, where it is expected to give details on the listing of the recently spun-out Jio Financial Services (JFS).</p>.<p>Last month, Reliance demerged JFS, which was valued at around $20 billion after its stock price was set at a much higher-than-expected 261.85 rupees ($3.19)</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/reliance-jumps-16-places-now-at-number-88-on-fortune-global-500-list-1243259.html">Reliance jumps 16 places, now at number 88 on Fortune Global 500 list</a></strong></p>.<p>The demerger, which was announced last October, is seen as the oil-to-retail conglomerate's way of expanding in the lucrative financial services sector, especially as it already has a non-bank financial company licence.</p>.<p>In the just-ended June quarter, Reliance reported a wider-than-expected drop in profit after weak demand and a steep fall in refining margins hurt its flagship oil-to-chemicals (O2C) business. </p>