Reliance's Jio Financial falls 5% in market debut, valued at $19 billion

📆 21/08/2023 9:07:00
📰 Reuters

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Shares of India's Jio Financial Services (JFS) , carved out of billionaire Mukesh Ambani-led Reliance Industries , fell as much as 5% in their trading debut on Monday, valuing the company at 1.58 trillion rupees ($19 billion).

While JFS is yet to build out a business in India's fast-growing financial services sector, analysts say its access to the vast trove of data from Reliance's telecom, digital and retail businesses will give it a leg up in lending.

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