Jio Financial Services’ Public Debut Falls Short of Expectations

  • Jio Financial Services, a spin-off of Reliance Industries, made a low-key debut, listing at INR 262 ($3.15) per share.
  • The share slid 5%, leading to a market cap of $19.2 billion, making it the fifth largest financial services company in India.
  • Jio Financial Services’ potential offerings include consumer and merchant lending, payments platform, insurance broking and a partnership with BlackRock for an asset management platform.
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