[ad_1]
BENGALURU: Jio Financial Services (JFS), the financial arm of Indian conglomerate Reliance Industries, is set to be listed on the stock exchanges on August 21, per a stock exchange circular on Friday.
Billionaire Mukesh Ambani’s Reliance had last month spun off JFS, with the market ascribing a valuation of around $20 billion.
Ambani has said Jio Financial Services aims to provide simple, affordable and innovative digital first solutions.
In July, JFS and US-based BlackRock said they would form an equal joint venture to launch asset management services in India.
Reliance’s shares reversed losses to trade 1.3% higher as of 2:16pm, while the benchmark Nifty 50 index was flat.
Billionaire Mukesh Ambani’s Reliance had last month spun off JFS, with the market ascribing a valuation of around $20 billion.
Ambani has said Jio Financial Services aims to provide simple, affordable and innovative digital first solutions.
In July, JFS and US-based BlackRock said they would form an equal joint venture to launch asset management services in India.
Reliance’s shares reversed losses to trade 1.3% higher as of 2:16pm, while the benchmark Nifty 50 index was flat.
[ad_2]
Source link
