Jio Financial Services says 1st AGM meeting on Friday, August 30

Shares of Jio Financial Services Ltd (JFSL), formerly known as Reliance Strategic Investments Limited, will be in focus on Thursday morning after the demerged entity of Reliance Industries Ltd (RIL) said it will have its first Annual General Meeting (AGM) on Friday, August 30. The AGM would take place at 2 PM IST through video conferencing or other audio visual means, JFSL said in a filing to BSE.

JFSL shares got listed on BSE and NSE on August 21, 2023. The scrip is up 41 per cent in 2024 so far.

JFSL is a core investment company - non-deposit taking - systemically important company (CIC), registered with the Reserve Bank of India, and operates its financial services businesses through its consumer-facing subsidiaries: Jio Finance Limited (JFL), Jio Insurance Broking Limited (JIBL), Jio Payment Solutions Limited (JPSL), Jio Leasing Services Limited (JLSL) and a Joint Venture (JV) with SBI, Jio Payments Bank Limited (JPBL).

In FY24, JFSL announced a JV with BlackRock to establish, pending regulatory approvals, an Asset Management Company, and further expanded the scope of the partnership on April 15 by entering into another JV for the Wealth Management and Broking businesses.

Further, JLSL has set up a 50:50 JV; Reliance International Leasing IFSC Limited (RILIL), with Reliance Strategic Business Ventures Limited (RSBVL), for undertaking a ship leasing business. RILIL is based out of Gujarat International Finance Tec-City (GIFT City), the international financial services centre (IFSC) in Gujarat.

In the annual report to shareholders, Mukesh Ambani said: "Jio Financial Services is uniquely placed to enable financial inclusion in India, leveraging technology to make financial products simple, affordable, and accessible to all."