![People stand next to a logo of Jio Financial Services ahead of its listing ceremony at the Bombay Stock Exchange in Mumbai](https://img.etimg.com/thumb/msid-111173482,width-300,height-225,imgsize-244158,resizemode-75/people-stand-next-to-a-logo-of-jio-financial-services-ahead-of-its-listing-ceremony-at-the-bombay-stock-exchange-in-mumbai.jpg)
Shareholders of India's Reliance Industries approved a deal worth $4.3 billion between its units Reliance Retail and Jio Financial Services (JFS), according to a disclosure with stock exchanges on Friday.
JFS plans to acquire equipment worth 360 billion rupees from Reliance Retail, as the financial services provider plans to enter the device leasing business.
Through the deal, JFS' unit - Jio Leasing Services - will buy customer premises equipment, devices and telecom equipment such as routers and cell phones.
Separately, shareholders of the billionaire Mukesh Ambani-led company also approved the re-appointment of Yasir Othman Al Rumayyan, the chairman of Saudi Aramco, as an independent director for a second term of five consecutive years.
ICC T20 World Cup Live
Through the deal, JFS' unit - Jio Leasing Services - will buy customer premises equipment, devices and telecom equipment such as routers and cell phones.
Separately, shareholders of the billionaire Mukesh Ambani-led company also approved the re-appointment of Yasir Othman Al Rumayyan, the chairman of Saudi Aramco, as an independent director for a second term of five consecutive years.
(Catch all the Business News, Breaking News, Budget 2024 Events and Latest News Updates on The Economic Times.)
Subscribe to The Economic Times Prime and read the ET ePaper online.
Read More News on
(Catch all the Business News, Breaking News, Budget 2024 Events and Latest News Updates on The Economic Times.)
Subscribe to The Economic Times Prime and read the ET ePaper online.