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Jio Financial Services is seeking shareholder approval for its unit to acquire equipment worth $4.33 billion from the retail arm of Reliance Industries as the financial services provider plans to enter the device leasing business #jio #reliance https://t.co/JRjSdtRkkr
#LeadStoryOnET | Entering a new business: Jio Financial plans Rs 36,000 cr deal with Reliance Retail https://t.co/ul4SN0DAn6
Jio Financial plans $4.33 bln deal with Reliance Retail https://t.co/1xJ7RytTmw https://t.co/nfCWpWwyAE
Jio Leasing Services, a wholly owned subsidiary of Jio Financial Services, plans to purchase customer premises equipment, devices, and telecom equipment worth $4.33 billion (approximately Rs 36,000 crore) from Reliance Retail over the next two financial years. This acquisition is part of Jio Financial Services' strategy to enter the device leasing business. The company is seeking shareholder approval for this significant transaction.