Jio Financial Services
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Reliance Strategic Investments Limited (2002–2023)
 | |
| Formerly | Reliance Strategic Investments Private Limited (1999–2002) Reliance Strategic Investments Limited (2002–2023) |
|---|---|
| Company type | Public |
| |
| ISIN | INE758E01017 |
| Founded | 22 July 1999 |
| Founder | Mukesh Ambani |
| Headquarters | Mumbai, Maharashtra |
Area served | India |
Key people | |
| Owners | Ambani family (47.12%)[1] |
| Subsidiaries | Allianz Jio Reinsurance Jio Finance Jio Insurance Broking Jio Payment Solutions Jio Leasing Services[2] Jio Payments Bank (77%) |
| Website | www |
Jio Financial Services Ltd (JFSL) is an Indian financial services company, based in Mumbai. Originally a subsidiary of Reliance Industries (RIL), it was demerged as an independent entity and listed on the Indian stock exchanges in August 2023.[3] The company provides financial services, including payment services and insurance broking.[4][5] Its subsidiary Jio Finance holds an NBFC license from the RBI. Another subsidiary, Jio Payments Bank, is also a payments bank registered in India.
Jio Financial Services was initially a financial services subsidiary of Reliance Industries. In July 2023, it was spun-off via a demerger,[3] with shareholders of Reliance Industries receiving one equity share of Jio Financial Services for every share they held in Reliance.[6] Reliance Industries transferred ₹15,500 crore (US$1.8 billion) of cash and liquid investments to Jio Financial Services as part of the demerger scheme. This gave Jio Financial Services a liquid asset base of ₹20,700 crore (US$2.4 billion).[7]
JFSL was listed on the stock exchanges on 21 August 2023. Following the demerger and listing, JFSL was briefly a part of Nifty 50, BSE SENSEX and FTSE indices, but was removed from these indices over the following weeks as it did not meet their inclusion criteria.[8][9][10]
In July 2023, JFSL entered the asset management company (AMC) business, by forming a 50:50 joint venture with BlackRock called Jio BlackRock.[11] In April 2024, JFSL and BlackRock announced a partnership in wealth management and broking business.[12]
In May 2024, JFSL launched JioFinance, an app with digital payments, loans and insurance offerings.[13]
In March 2026, the reinsurance service “Allianz Jio Reinsurance Limited,” operated jointly with Allianz, began operations.[14]