Reliance Industries Ltd. has separated its financial services arm, valuing it at over $19 billion. However, the company’s information memorandum lacks details about Jio Financial Services Ltd.’s operations. Despite this, brokerages have assigned a value of $19-22 billion based on its potential. This move, just before Reliance Industries’ AGM, likely aims to secure Jio Financial Services’ inclusion in global indices to attract institutional investments. The timing of its listing, around 22 days after shares were credited, has raised questions. The company’s subsidiaries hint at plans for retail lending, asset management, insurance, and digital payments. Uncertainty prevails about the company’s growth strategy and how it will deliver value to RIL shareholders. While Jio Financial Services ventures into various financial sectors, challenges like scaling up and regulatory limitations remain. The company’s valuation raises concerns about whether it aligns with its business prospects.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}