Rs 36,000 crore deal: Billionaire Mukesh Ambani-led Jio Financial Services is looking to complete a whopping Rs 36,000 crore deal with another group company Reliance Retail. The latest listed entity of Reliance Industries is now seeking shareholder not to acquire equipment from the retail arm of the conglomerate.
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Jio Financial Services on Thursday, shared a postal ballot notice, revealing it is seeking approval from the shareholders to buy equipments worth a whopping Rs 36,000 crore as it plans a foray in the device leasing business.
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Through its wholly owned subsidiary Jio Leasing Services Limited (JLSL), Jio Financial Services is entering into the business of operating lease via a Device-asa-service (“DaaS”) model. “DaaS is a new age service model where businesses or individuals lease certain goods along with associated services, rather than purchasing the devices outright,” it said.
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DaaS typically includes installation, maintenance, support, and sometimes additional services like updates.
