Reliance spin-off Jio Financial Services slides on market debut

Jio Financial Services, a subsidiary of Reliance Industries, made its public debut but had a weak start as its share price fell and its market cap reached $19.2 billion, making it one of the largest financial services companies in India; the subsidiary is expected to engage in various financial services including consumer and merchant lending, payments platform, insurance broking, and asset management.

techcrunch.com

Relevant topic timeline:

8/18/2023

Netflix inks deal with Reliance’s Jio to expand India presence

Main Topic: Netflix partners with Jio Platforms in India to bundle streaming service with pay-as-you-go plans. Key Points: 1. Netflix's mobile-only plan will be bundled with Jio's 1,099 Indian rupees plan. 2. Jio's 1,499 Indian rupees plan will give access to Netflix Basic. 3. This is the first time Netflix has partnered with an Indian telecom operator for a prepaid plan. Hint on Elon Musk: Elon Musk is a technology entrepreneur and business magnate known for co-founding Tesla, SpaceX, Neuralink, and The Boring Company.

8/28/2023

Indian Billionaire Mukesh Ambani's Firm Will Explore Blockchain Platforms and CBDCs

Reliance Industries, led by Chairman Mukesh Ambani, is entering the world of blockchain and central bank digital currencies (CBDCs) through its financial services entity, Jio Financial Services, with plans to consolidate payment infrastructure and explore blockchain-based platforms and CBDCs.

8/28/2023

Reliance has invested $150bn in last 10 years; Ambani scions appointed as board directors; JioAirFiber to be launched on Sept. 19: Key points - Times of India

Reliance Industries, led by Mukesh Ambani, has invested $150 billion in the past decade, making it the largest investment by any Indian corporation, with a focus on transforming India into a premier digital society through initiatives such as Jio 5G and AI-powered solutions.

9/8/2023

Nvidia Partners with Reliance Jio to Bring AI Services to 450 Million Customers in India

U.S. chip firm Nvidia and Reliance's Jio unit have partnered to create language models and a cloud infrastructure platform for AI development in India, with Reliance using Nvidia's computing power to provide AI applications and services to its telecom customers and across various sectors.

9/13/2023

Reliance Retail in Talks to Raise $1.5 Billion More from Sovereign Funds

Reliance Retail, India's largest retailer, is in talks with existing investors, including sovereign wealth funds from Singapore, Abu Dhabi, and Saudi Arabia, for approximately $1.5 billion in new investments as part of its plan to raise $3.5 billion by the end of September at a valuation of $100 billion.

Topics

Posted 8/21/2023, 4:57:31 AM

Reliance spin-off Jio Financial Services slides on market debut

techcrunch.com

Relevant topic timeline:

8/18/2023

Netflix inks deal with Reliance’s Jio to expand India presence

8/28/2023

Indian Billionaire Mukesh Ambani's Firm Will Explore Blockchain Platforms and CBDCs

8/28/2023

Reliance has invested $150bn in last 10 years; Ambani scions appointed as board directors; JioAirFiber to be launched on Sept. 19: Key points - Times of India

9/8/2023

Nvidia Partners with Reliance Jio to Bring AI Services to 450 Million Customers in India

9/13/2023

Reliance Retail in Talks to Raise $1.5 Billion More from Sovereign Funds