Good news for Mukesh Ambani, Akash Ambani: Reliance Jio Financial Services now Rs 1.64 lakh crore firm; stock price is

 


Good news for Mukesh Ambani, Akash Ambani: Reliance Jio Financial Services now Rs 1.64 lakh crore firm; stock price is.



Being the most powerful corporate family in India, Mukesh Ambani and his family have made significant progress in the business world. His son Akash Ambani's company Jio Financial Services has recently reached a new level by being valued at USD 20 billion.

The firm of Mukesh Ambani's son Akash Ambani has reached new heights after being valued at USD 20 billion, or more than Rs 1.64 lakh crore in Indian rupees.This follows a special meeting held to ascertain the trade worth of the corporation.


Without the Jio Financial Services division, Reliance, which is regarded as the most valuable firm in India in the current economy, will trade on the stock market.Based on the difference between the stock price of Reliance at Wednesday's close and the price of Jio Financial Services Ltd, each share was priced at Rs 261.85 ($3.19).

Reliance Industries, owned by Mukesh Ambani, announced that after the spinoff, the valuation of Akash Ambani's company would be Rs 133 per share, or 4.77 percent of RIL's closing price on the day in question.

Top companies including JP Morgan, Axis Securities, and Avendus Spark, which valued the company at USD 14 billion, were outdone by the astronomically high valuation of USD 20 billion.

Mukesh Ambani's commercial empire is anticipated to grow thanks to the value of Akash Ambani's company, putting Reliance one step closer to status comparable to that of the Alibaba Group or the Tencent Group. Reliance has established a footprint in telecom and e-commerce and is now extending its reach into the retail sector.

The Ambani brand has advanced thanks to the multi-million dollar deals that daughter Isha Ambani's Reliance Retail has inked to bring foreign items to India at a reduced price, in addition to Akash Ambani's Jio.






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