Jio Financial eyes Rs 36,000 crore deal with Reliance Retail
New Delhi, May 24, 2024.
Jio Financial Services (JFS) is eyeing a deal worth Rs 36,000 crore with the retail arm of Reliance Industries (RIL), as it plans to step into the device leasing business, as per a postal ballot notice from the company.
According to the proposal, a unit of JFS, named Jio Leasing Services, will acquire telecom equipment and devices, including routers and cell phones. The approval from shareholders is still pending for the proposal.
Jio Leasing Services aims to enter the operating lease business using a Device-as-a-Service (DaaS) model.
In this model, businesses or individuals lease goods along with associated services rather than buying them outright. These services usually include installation, maintenance, support, and sometimes updates.
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