With Jio Financial Services, Mukesh Ambani is aiming for a kind of disruption in the financial services sector as Jio Infocomm has done in the telecom sector. Jio Financial Services is aiming to reach the vast strata of Indian population which exists out of the range of the current lending sector.

Reliance Industries shareholders have a chance to earn one Jio Financial Services (JFSL) share, for every stock held, subject to a 'buy one, get one' offer, which ends today. The offer follows the decision to demerge RIL's financial services into a separate subsidiary.

Reliance Industries plans to demerge its financial services subsidiary, which will be renamed Jio Financial Services (JFSL), unlocking value and making it India's fifth-largest financier in terms of capital. After separating financial services from other core businesses, RIL can attract strategic partners with only financial service interests, according to analysts.

Market insiders believe that Ambani may announce the record date for the allotment and listing of Reliance Strategic Investments, which would be renamed to JFSL, in July or August. In the company's annual general meeting (AGM), the date of which has not been announced yet, Ambani is expected to lay out the roadmap for JFSL before it gets listed on stock exchanges.