Jio Financial plans Rs 36,000 cr deal with Reliance Retail

Jio Financial Services seeks shareholder approval for its unit to purchase telecom equipment worth Rs 36,000 crore from Reliance Retail. The move signals JFS's entry into the device leasing business. The deal involves Jio Leasing Services buying routers and cell phones for rental to Reliance Jio Infocomm customers. Voting concludes on June 22, with the deal anticipated to finalize in the financial years 2025 and 2026.