Ambani to List Financial Services, Rejig Engineering Business
- Every Reliance shareholder to get one share in Jio Financial
- New firm to leverage spread of Reliance’s consumer businesses
Photographer: Dhiraj Singh/Bloomberg
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Reliance Industries Ltd., will create a financial services unit to feed its consumer businesses that are contributing an increasing share of profits to the retail-to-refining conglomerate.
It will also restructure the engineering and projects divisions as it sets about carrying out large infrastructure investments including the rolling out an ambitious 5G network in the country.