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Jio Financial Services: Mukesh Ambani's company Jio Financial Services is planning to launch a new facility. According to an announcement made by the company, Jio Financial Services NBFC Jio Finance Limited said that they are in the final stages of launching home loan services. Its beta testing has started. Apart from this, the company is also going to introduce other products like loan against property and loan against securities.
Feature started as beta testing
Addressing shareholders at the first AGM, the company's MD and CEO Himesh Shethia said, “We are in the final stages of launching a loan facility, which has been started on a test basis. Other products like loan against assets and loan against securities are also in the process.” He said Jio Finance Limited has already introduced secured loan products in the market like supply chain financing, loan against mutual funds and enterprise solutions for equipment financing.
Where have the company's shares reached?
Shares of Jio Finance Services closed down at Rs 321.75 in the trading week ended on Friday. The stock has touched an all-time high of Rs 394.70 in April 2024. The all-time high low of the stock is Rs 204.65. The company has recently received permission from the Reserve Bank of India to act as a core investment company (CEC). The company had a profit of Rs 332 crore in the same quarter a year ago.
Let us tell you here that before the annual meeting, Jio Financial Services had bought 6.8 crore equity shares of Jio Payments. Since then, the stake has increased to 82.17%. These shares have been bought from Jio Financial at a face value of Rs 10 per share. This has led to a total cash investment of Rs 68 crore.
