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Jio Financial Services

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business2 years ago•2 min saved

Reliance's Jio Financial Services Makes Tepid Market Debut

Jio Financial Services, a subsidiary of Reliance Industries, saw its shares fall by 5% on its market debut, valuing the company at $19 billion. Despite not yet establishing a presence in India's financial services sector, Jio Financial Services is expected to benefit from its access to data from Reliance's telecom, digital, and retail businesses. The company has already formed a joint venture with BlackRock to launch asset management services in India. Jio Financial Services aims to become a full-service financial services player.

via Reuters|

#business #financial-services-sector #jio-financial-services

business2 years ago•2 min saved

BlackRock and Mukesh Ambani's Jio Financial Services team up for Indian asset management venture

BlackRock, the world's largest money manager, has partnered with Jio Financial Services, the financial arm of Indian tycoon Mukesh Ambani's Reliance Industries, to enter India's fast-growing asset management market. The joint venture, called Jio BlackRock, plans to invest up to $150 million each and aims to deliver tech-enabled access to affordable investment solutions for Indian investors. This marks BlackRock's second attempt to gain entry into India's asset management industry, which has seen a doubling of assets under management in the past five years. The partnership aims to revolutionize India's asset management industry by leveraging BlackRock's expertise and Jio's technology capabilities.

via CNBC|

#asset-management #blackrock #business