Jio Financial Services (JFS) plans to enter the device leasing business, renting out equipment to customers of Reliance Jio Infocomm. JFS, spun out from Mukesh Ambani’s Reliance Group last year, will lease products like AirFiber wifi services, phones, and laptops.
Jio Leasing Services will compete with companies like Hewlett Packard and Lenovo in the device rental market. Voting on the proposal ends on June 22, with the deal expected to be finalized in the financial years 2025 and 2026.
At the time of writing, shares of Jio Financial Services were trading at ₹360 which is a 1.48% dip than the previous close. The stock has gained 44.64% in the last one year, and 53.4% since the beginning of the year.
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