After Jio Financial Services (JFS) underwent a rebranding and formal demerger from Reliance Industries Limited (RIL), investors have been eagerly awaiting the listing of the financial services firm on the stock exchanges.
The company’s price was discovered at Rs 261.85 on July 20, surpassing analysts’ expectations. In its annual report, RIL has now stated that it hopes to soon list shares of JFS on the stock markets to unlock value for shareholders.
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RIL Chairman Mukesh Ambani emphasised the unique positioning of Jio Financial Services to capture growth opportunities in the financial sector and transform the digital finance landscape in India.
He mentioned that JFS aims to offer seamless and innovative digital-first solutions to consumers, leveraging Reliance’s technological capabilities to democratize access to financial services for Indian citizens.
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Reports indicate that the listing date for Jio Financial Services will likely be announced during RIL’s upcoming annual general meeting.
Recently, JFS formed a joint venture with US-based BlackRock Inc to launch asset management services in India, further showcasing its ambitions in the financial services domain.
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The demerger of JFS from RIL is perceived as a strategic move by the conglomerate to expand in the lucrative financial services sector, capitalizing on its existing non-bank financial company license.
As the financial services firm gears up for its listing on the stock markets, investors and market participants are keenly observing its growth trajectory and potential impact on the industry.
