306:, had large quantities of Reliance Industries in their portfolio. They received a share of JFSL for every share of Reliance they held. These shares found a temporary home in these indices, but it was going to be removed since it did not meet any of the criteria. The index funds tracking these indices were forced to sell JFSL shares worth roughly around ₹2,700 crore before the stock was removed from the indices. This led to the stock hitting it's lower circuit for multiple days in a row, as index funds dumped the stock in anticipation of it being dropped from the index.
27:
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In 2024, Jio
Financial Services opened a subsidiary called Jio Leasing Services Ltd, an unrelated leasing services business. The subsidiary's first customer was another promoter owned company, Reliance Retail. This was a massive $ 4.4 billion deal and some commentators saw it as a way to prop up the
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to form a new firm, following which it was listed on the stock exchanges. Reliance
Industries transferred Rs 15,500 crore of cash and liquid investments to Jio Financial Services as part of the demerger scheme. This gave Jio Financial Services a liquid asset base of Rs 20,700 crore. Investors in
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JFSL shares were to be excluded from Nifty and Senex on August 23, but with the heavy beating and the stock hitting lower circuit limits consistently, the exclusion has been extended to August 28.
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in August 2023. The company provides financial services, including payment services and insurance broking. Its subsidiary Jio
Finance holds an
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In May 2024 JioFinance, an app that aims to be a one-stop shop for digital payments, loans and insurance was launched in the Indian market.
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Reliance also received 1 equity share of Jio
Financial Services for every share they held in Reliance Industries.
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The company was listed on the stock exchanges on August 21, 2023. However, it was removed from
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As of the end of the June quarter, the company had a liquid asset base of Rs 20,700 crore.
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The company also entered the asset management company (AMC) business in partnership with
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488:"Why Jio Financial Services shares are hitting lower circuit everyday - Explained"
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637:"Jio Financial wants to lend routers so that Reliance Retail's revenue goes up"
393:"Jio Financial Services to provide simple, affordable solutions: Mukesh Ambani"
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547:"Interesting times ahead for AMC business with the entry of Jio BlackRock"
615:"Jio Financial Services arm plans Rs 36K crore deal with Reliance Retail"
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458:"Jio Financial Services to be removed from BSE Indices from September 1"
375:"Banking & Financials: Jio Financial Services: Decoding the unknown"
414:"Reliance Industries shifts Rs 15,500 crore to Jio Financial Services"
357:"Jio Financial Services to be listed on stock exchanges on August 21"
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566:"Ambani fires opening salvo in Indian fintech race with JioFinance"
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517:"The index fund attack on Jio Financial Services is over. Almost"
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429:"Reliance demerger: Jio Financial Services valued at ₹261.85"
251:(RIL). It became an independent entity and was listed on the
590:"Jio Financial Service to enter equipment leasing segment"
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Reliance
Strategic Investments Private Limited (1999–2002)
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Companies listed on the
National Stock Exchange of India
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283:' financial services businesses. It separated in a
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51:Reliance Strategic Investments Limited (2002–2023)
688:Companies listed on the Bombay Stock Exchange
279:Jio Financial Services was initially part of
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708:Online financial services companies of India
678:Financial services companies based in Mumbai
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336:revenue of the promoter's retail company.
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703:Investment management companies of India
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545:Narayanan, KS Badri (August 4, 2023).
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298:Multiple index funds that tracked the
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683:Indian companies established in 2023
295:and FTSE indices in September 2023.
247:that was originally a subsidiary of
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698:Reliance Industries subsidiaries
355:Gohel, Ankit (August 18, 2023).
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527:from the original on 2023-10-02
498:from the original on 2023-08-26
468:from the original on 2024-02-16
439:from the original on 2023-08-23
427:Jauhari, Ujjval (2023-07-20).
20:Jio Financial Services Limited
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713:Investment companies of India
207:Jio Payment Solutions Limited
205:Jio Insurance Broking Limited
564:Singh, Manish (2024-05-30).
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331:Related Party Transactions
237:financial services company
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16:Indian financial company
486:Livemint (2023-08-24).
233:Financial Services Ltd.
263:. Another subsidiary,
253:Indian stock exchanges
114:; 25 years ago
271:registered in India.
617:. Business Standard
464:. August 31, 2023.
281:Reliance Industries
249:Reliance Industries
203:Jio Finance Limited
192:Reliance Industries
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399:. August 6, 2023.
379:indiainfoline.com
265:Jio Payments Bank
259:license from the
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112:22 July 1999
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523:. 2023-09-04.
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267:, is also a
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199:Subsidiaries
172:K. V. Kamath
137:Headquarters
104:INE758E01017
56:Company type
239:, based in
152:Area served
145:Maharashtra
41:Jio Finance
672:Categories
575:2024-06-01
570:TechCrunch
531:2024-02-16
502:2024-02-16
472:2024-02-17
443:2024-02-16
340:References
304:BSE SENSEX
164:Key people
119:1999-07-22
36:Trade name
314:BlackRock
68:Traded as
525:Archived
521:Finshots
496:Archived
466:Archived
437:Archived
302:and the
300:NIFTY 50
285:demerger
46:Formerly
643:27 June
621:27 June
599:27 June
275:History
212:Website
127:Founder
117: (
109:Founded
88::
79::
241:Mumbai
187:Parent
141:Mumbai
90:JIOFIN
81:543940
60:Public
245:India
157:India
645:2024
623:2024
601:2024
492:mint
433:mint
361:mint
257:NBFC
219:.jfs
100:ISIN
293:BSE
261:RBI
231:Jio
221:.in
217:www
86:NSE
77:BSE
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519:.
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347:^
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
