Reliance Industries Ltd hopes to soon list shares of its financial services unit, Reliance Jio Financial Services Ltd, to unlock value for shareholders, the company said in its annual report.
Labourers rest in front of an advertisement for Reliance Industries at a construction site in Mumbai, India, March 2, 2016. REUTERS/Shailesh Andrade/File Photohopes to soon list shares of its financial services unit, Reliance Jio Financial Services Ltd, to unlock value for shareholders, the company said in its annual report.
"Jio Financial Services Ltd is positioned uniquely to capture the growth opportunities in financial services sector and play a crucial role in transforming the landscape of digital finance in India," Chairman Mukesh Ambani said in a message to shareholders.for Jio Financial Services is widely expected to be announced at Reliance's forthcoming annual general meeting.
Ambani said Jio Financial Services wants to provide simple, affordable and innovative digital first solutions. "Jio Financial Services along with its subsidiaries will leverage the technological capabilities of Reliance and digitally deliver financial services, democratising access to financial services offerings for Indian citizens," he said.
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