Wednesday, June 19, 2024
HomeNewsJio Financial Services leases office space in Mumbai at ₹55.5 lakh per...

Jio Financial Services leases office space in Mumbai at ₹55.5 lakh per month

Published on

Latest articles

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in Kotak General

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in...

Vodafone Idea shares zoom 14% today; key technical levels to watch out for

Vodafone Idea shares zoom 14% today; key technical levels to watch out for Vodafone Idea...

Nadeem Amin is the New President for Netstal Americas

Nadeem Amin is the New President for Netstal Americas Netstal appoints Nadeem Amin as its...

SCREEN Launches High-Density SU Ink For Uncoated Papers Used By Truepress JET 520HD Mono

SCREEN Launches High-Density SU Ink For Uncoated Papers Used By Truepress JET 520HD Mono It...


Jio Financial Services, formerly called Reliance Strategic Investments, has taken on lease 13,872 square feet of space in Mumbai at a monthly rent of ₹55.5 lakh.

The office space is located on the first floor of Maker Maxity in Bandra Kurla Complex, the bustling business district in the financial capital and home to many leading banks as well as capital markets regulator Securities and Exchange Board of India and the National Stock Exchange.

The lease is for 60 months, and the effective rate works out to ₹400 per square feet a month, according to documents made available by data analytics platform Propstack.

Jio Financial Services currently has its offices at Maker Chambers IV, which is the seat of parent company Reliance Industries. The office premises taken on lease by the company will be its main office for now outside Maker Chambers, sources said. They said the company was in expansion mode and more office space will be taken in future.

After being demerged from its parent, Jio Financial is set to be listed though the listing date is yet to be set.

A special trading session of RIL was conducted last month for a price discovery of the financial services subsidiary and an indicative listing price of ₹261.80 was arrived at.

Mukesh Ambani has ambitious plans in financial services and has lost no time in setting things in motion, forming a joint venture with US-based asset manager BlackRock to enter the asset management sector in India.

In the FY23 annual report, Ambani had said that the company will be offering ‘affordable, digital-first’ financial solutions to Indians.





Source link

More like this

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in Kotak General

Kotak Mahindra shares rise 4% on RBI nod to Zurich Insurance buying 70% in...

Vodafone Idea shares zoom 14% today; key technical levels to watch out for

Vodafone Idea shares zoom 14% today; key technical levels to watch out for Vodafone Idea...

Nadeem Amin is the New President for Netstal Americas

Nadeem Amin is the New President for Netstal Americas Netstal appoints Nadeem Amin as its...