Jio Financial Services

On Monday, at the Bombay Stock Exchange, Reliance Industries-backed Jio Financial Services (JFS) had its listing ceremony. Mr. K.V. was there when it happened.
Kamath (Independent Director and Non-Executive Chairman of JFSL) and Mr. Subhash S. Mundra (Chairman of BSE).

Jio Financial Services

Jio Financial Services’ stock opened at INR 262 and dropped to a low of INR 248.90.

During its trading debut on Monday, JFS, a venture formed by India’s Reliance Industries under the leadership of billionaire Mukesh Ambani, faced a drop of up to 5%, bringing the company’s valuation to INR 1.58 trillion (USD 19 billion).

Current valuation places Jio Financial Services as India’s third-largest non-banking financial company (NBFC), following Bajaj Finance and Bajaj Finserv, with valuations of INR 4.15 trillion and INR 2.32 trillion, respectively. Reliance’s consumer businesses, which include the largest cellphone operator in the nation with around 428 million subscribers and a leading retail chain with more than 17,000 locations, are anticipated to benefit from this move.

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While JFS has yet to fully establish itself in India’s rapidly expanding financial services sector, analysts suggest that its access to Reliance’s vast reservoirs of data in telecommunications, digital, and retail businesses will assist in extending credit.

Jio Financial Services
A man walks across the LED board showing the logo of Jio

Last month, JFS disclosed a partnership with BlackRock, the largest asset management in the world, to launch a mutual fund company.
According to analysts, JFS will benefit from Reliance’s huge data resources in telecoms and retail, which will aid in credit extension.

Though the journey of Jio Financial Services is at its initial stages, it stands to gain from Reliance’s significant data reservoirs across its telecommunications and retail businesses, aiding the extension of credit to customers.

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