logo
logo
  • Home
  • About Tripura
    • Tripura
    • Governon
    • Chief Minister
    • Council of Ministers
  • Tripura
  • National
  • International
  • Lifestyle
  • Spotlight
  • Sports
  • Jobs/Tender
  • Photo Album

Jio Financial Services plans Rs 36,000 cr deal with Reliance Retail: Report

By IBNS
May 24, 2024..

Mumbai: Jio Financial Services (JFS) is seeking shareholder approval for its subsidiary to acquire equipment worth Rs 36,000 crore from Reliance Industries' retail division as part of its plan to enter the device leasing market, according to a postal ballot notice, reported Reuters.


Under the proposed agreement, the JFS subsidiary, Jio Leasing Services, will purchase telecom equipment and devices, such as routers and cell phones. The notice dated March 18 did not specify the exact products being acquired, said the report.

Jio Leasing Services will lease the purchased equipment to customers of Reliance Jio Infocomm, Reliance's telecommunications arm.

This move will position the company to compete in the device rental market against companies like Hewlett Packard and Lenovo.

Voting on the proposed items in the notice will conclude on June 22. The deal is expected to be finalized in the financial years 2025 and 2026, said the report.

Leave a Reply
Post comment
Related News
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Dec 6, 2024 ..
JP Morgan gives 'overweight' rating to Adani Group bonds
Dec 6, 2024 ..
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Dec 6, 2024 ..
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Dec 6, 2024 ..
Vodafone Idea to consider Rs 2,000 crore equity raise on December 9, eyes tariff adjustments
Dec 6, 2024 ..
Newsletter

Subscribe For Northeast Herald News And Receive Daily Updates

logo

Northeast Herald starts its journey from Tripura state capital city Agartala to cover the entire Northeast region of India for the latest news, news photos, and the latest photos to promote the great cultural, historical and traditional identity of the region.

  • Twitter Icon
  • About Tripura
  • About Northeast
  • National News
  • Tripura News
  • International
  • Entertainment
  • Spot Light
  • Article Us
  • Health
  • Lifestyle
  • Top News
  • Sports
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookies Policy
  • Code of Ethic
  • Site Map
  • Rss Feeds

Copyright © Northeast Herald. All Rights Reserved