Jio Financial Services share price: Jio Financial Services, a Non-Banking Financial Company (NBFC) subsidiary of Reliance Industries Limited, is all set to launch many products in the financial year 2024-25. The company is in advanced stage of launching home loans very soon. BlackRock JV will help Jio Financial Services bring more investment products. Jio Payment Solutions is pursuing merchant tie-ups.
Earlier, Jio Financial Services had announced a stake increase in Jio Payments Bank with a purchase of 6.8 crore equity shares of the company. Jio Financial Services operates a set of financial services businesses through its subsidiaries Jio Payment Solutions, Jio Payments Bank and Jio Insurance Broking, Jio Finance, and Jio Leasing.
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Jio Financial share price
Shares of Jio Financial Services traded flat during the intraday session on Friday, August 30. Around 2:40 PM, the scrip was trading at Rs 325.25 apiece with a drop of 0.14%, against the previous day close at Rs 325.70 apiece.
Jio Financial Services is BSE 200 company with an m-cap of Rs 2.06 lakh crore as per BSE analytics.
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Reliance Industries Limited (RIL) held its 47th Annual General Meeting (Post-IPO) of the company on Thursday, August 29, 2024. Reliance Industries Limited (RIL) had spun off its financial services business under the brand ‘Jio Financial Services’ last year in July.
In April month, Jio Financial Services announced that it had entered into a new joint venture (JV) with U.S-based BlackRock Industries to create a wealth management and broking business in India. Both companies had pledged to invest initially about $150 million each. This JV will attempt to compete against the firmly established broking houses including Zerodha, Angel One, etc.
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Reliance Industries bonus issue 2024
Reliance Industries in the AGM 2024 announced that its board will meet in the first week of September to consider a proposal of bonus issue in the ratio of 1:1. In the past, Reliance Industries gave bonus shares 5 times. The company awarded its first bonus in 1980, its second in 1983, its third in 1997, its fourth in 2009, and its fifth in 2017. Jio Financial Services was separated by the company later in 2023, and one equity share was distributed.
