https://en.bharatpedia.org/w/index.php?action=history&feed=atom&title=Jio_Financial_ServicesJio Financial Services - Revision history2026-08-23T08:20:18ZRevision history for this page on the wikiMediaWiki 1.43.6https://en.bharatpedia.org/w/index.php?title=Jio_Financial_Services&diff=424889&oldid=prevAjay Kumar: Creating a new article2023-09-03T18:18:01Z<p>Creating a new article</p>
<p><b>New page</b></p><div>{{Infobox company<br />
| name = Jio Financial Services<br />
| trading_name = Jio Finance<br />
| type = [[public company|Public]]<br />
| traded_as = {{Unbulleted list|{{BSE|543940}}|{{NSE|JIOFIN}}}}<br />
| ISIN = INE758E01017<br />
| founder = [[Mukesh Ambani]]<br />
| hq_location = [[Mumbai]], [[Maharashtra]]<br />
| area_served = [[India]]<br />
| key_people = [[K. V. Kamath]], [[Rajiv Mehrishi]]<br />
}}<br />
'''Jio Financial Services''' is an Indian financial services company that was originally a subsidiary of [[Reliance Industries]] (RIL). It became an independent entity and was listed on the [[Indian stock exchange]] in August 2023.<ref name="auto">{{Cite web|url=https://www.livemint.com/companies/news/jio-financial-services-to-be-listed-on-stock-exchanges-on-august-21-11692348058819.html|title=Jio Financial Services to be listed on stock exchanges on August 21|first=Ankit|last=Gohel|date=August 18, 2023|website=mint}}</ref> The company provides financial services, including payment services and insurance broking.<ref>{{Cite web|url=https://indiainfoline.com/article/news-top-story/banking-financials-jio-financial-services-decoding-the-unknown-1692594508799_1.html|title=Banking & Financials: Jio Financial Services: Decoding the unknown|website=indiainfoline.com}}</ref><ref>{{Cite web|url=https://www.businesstoday.in/latest/corporate/story/jio-financial-services-to-provide-simple-affordable-solutions-mukesh-ambani-393001-2023-08-06|title=Jio Financial Services to provide simple, affordable solutions: Mukesh Ambani|date=August 6, 2023|website=Business Today}}</ref><br />
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== History ==<br />
Jio Financial Services was initially part of [[Reliance Industries]]' financial services businesses. It separated in a [[demerger]] to form a new firm, following which it was listed on the stock exchanges.<ref name="auto"/> Reliance Industries transferred Rs 15,500 crore of cash and liquid investments to Jio Financial Services as part of the demerger scheme.<ref name="auto1">{{Cite web|url=https://www.financialexpress.com/industry/reliance-industries-shifts-rs-15500-crore-to-jio-financial-services/3183700/|title=Reliance Industries shifts Rs 15,500 crore to Jio Financial Services|date=July 24, 2023}}</ref> This gave Jio Financial Services a liquid asset base of Rs 20,700 crore.<ref name="auto1"/><br />
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The company was listed on the stock exchanges on August 21, 2023.<ref name="auto"/> However, it was removed from [[BSE SENSEX|BSE]] and FTSE indices in September 2023.<ref>{{Cite web|url=https://www.moneycontrol.com/news/business/jio-financial-services-to-be-removed-from-bse-indices-from-september-1-11289261.html|title=Jio Financial Services to be removed from BSE Indices from September 1|date=August 31, 2023|website=Moneycontrol}}</ref><ref>{{Cite web|url=https://www.telegraphindia.com/business/sp-bse-indices-including-sensex-to-drop-jio-financial-services/cid/1963022|title=S&P BSE indices, including Sensex to drop Jio Financial Services|website=www.telegraphindia.com}}</ref><ref>{{Cite web|url=https://inc42.com/buzz/jio-financial-services-removed-sensex-september-1/|title=Jio Financial Services To Be Removed From Sensex On September 1|first=Hemant|last=Kashyap|date=August 31, 2023}}</ref> [[Life Insurance Corporation]] (LIC) picked up a 6.66% stake in the company.<ref>{{Cite web|url=https://thewire.in/business/lic-picks-up-6-66-stake-in-jio-financial-services|title=LIC Picks up 6.66% Stake in Jio Financial Services|website=The Wire}}</ref> The company is also entering the Asset Management Company (AMC) business in partnership with [[BlackRock]].<ref>{{Cite web|url=https://www.thehindubusinessline.com/markets/interesting-times-ahead-for-amc-business-with-the-entry-of-jio-blackrock/article67158741.ece|title=Interesting times ahead for AMC business with the entry of Jio BlackRock|first=KS Badri|last=Narayanan|date=August 4, 2023|website=BusinessLine}}</ref><br />
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As of the end of the June quarter, the company had a liquid asset base of Rs 20,700 crore.<ref name="auto1"/><br />
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== References ==<br />
<references /><br />
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[[Category:Financial services companies based in Mumbai]]<br />
[[Category:Indian companies established in 2023]]<br />
[[Category:Companies listed on the Bombay Stock Exchange]]<br />
[[Category:Companies listed on the National Stock Exchange of India]]</div>Ajay Kumar