Why did Reliance demerge financial services biz first? Jal Irani answers
I think the financial services business requires a significant balance sheet size straight away. And to that extent, by transferring the treasury shares of Reliance Industries to this business to give that critical mass to the balance sheet and hence kick-start this business, was the strategy which they have sort of leveraged. So that is, I think, the unique strategy they followed for this.
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