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In 2024, Jio Financial Services established a subsidiary called Jio Leasing Services Ltd, an unrelated leasing services business. [14] The subsidiary signed a $4.4 billion deal with another promoter-owned company, Reliance Retail for leasing routers. [15] Some commentators saw this deal as a way to prop up the revenue of Reliance Retail. [16]
Jio Payments Bank Limited is a 77:23 partnership between Reliance Industries and the State Bank of India. [1] On November 10, 2016, it registered as a public limited company to set up a payments bank. On April 3, 2018, Jio Payments Bank became the sixth payment bank to commence operations in India. [2]
Reliance Jio Infocomm Limited (d/b/a Jio) is an Indian telecommunications company and a subsidiary of Jio Platforms, headquartered in Navi Mumbai. It operates a national LTE network with coverage across all 22 telecom circles. Jio offers 5G, 4G and 4G+ services all over India. Its 6G service is in the works. [10] [11] [12] [13]
In September 2019, Jio launched a fibre-to-the-home service, offering home broadband, television, and telephone services. As of September 2020 [update] , Reliance Industries has raised ₹ 1.65 lakh crore (equivalent to ₹ 1.9 trillion or US$22 billion in 2023) by selling a nearly 33% equity stake in Jio Platforms.
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Motilal Oswal Financial Services was set up by Motilal Oswal and Raamdeo Agrawal as a broking house in 1987. [5] The company entered into investment banking in 2005, followed by private equity fund in 2006. [6] In February 2006, the company acquired Peninsular Capital Markets, a Cochin, Kerala based broking company for Rs. 35 crore. [7]
LYF was established in 2015 by the telecom operator, Jio. Marketed closely along with Jio's 4G services, smartphones under the brand were slated to launch in November 2015. [8] In January 2016, it launched its first set of 4G-enabled smartphones named after the four classical elements: Earth, Flame (Fire), Water, and Wind. [9] [10]
Shriram Capital (formerly Shriram Financial Ventures) is the holding company and promoter of Shriram Group's financial services and insurance businesses. [14] It is jointly owned by Shriram Ownership Trust (59.3%) and Sanlam Group (40.7%).