Reliance Jio and Piramal Group may set up a joint venture for fintech

Reliance Jio and Piramal Group may set up a joint venture for fintech 1

With a couple of a week after the report keep into the market, that Japan Softbank may lead investment of massive around $1 Billion in the Mumbai based Piramal Enterprises financial services arm, which another recent report which has been reported by the sources   revealed that the Reliance Jio and the Piramal Group might event set up a joint venture for consuming the fintech and lending.

It is to be noted as well that Reliance Jio has been promoted by the Mukesh Ambani while on the other hand Piramal Group is owned by the Ajay Piramal, who is the Ambani in a house with his new wedding daughter Isha Ambani.

According to the report, the Piramal Group is on the verge of closing around INR 9600 crore funding from one more unknown investor besides the SoftBank. The capital invested is likely to be in two tranches.

Apart from that Reliance Jio and Reliance Retail, the subsidiaries of Mukesh Ambani led Reliance Industries, is also in the process of launching a new e-commerce platform in India which will also be rolled for store owners and retailers.

In the month of March, Reliance Industries Limited through its subsidiary Reliance Industrial Investments and Holdings has also made three acquisitions of software solutions companies – Surajya Services Pvt Ltd, SankhyaSutra Labs Pvt Ltd, and Reverie Language Technologies.

“I am extremely proud to honour my grandfather’s legacy and create something enduring through this landmark global scholars programme at LBS,” Birla said in a press note. “Through this programme, we look to build a diverse and vibrant community of next generation leaders who are committed to the ideals of integrity, dedication and service to humanity. The very values epitomised by my grandfather,” he said.

Report

Written by Udit Agarwal

Startup/Tech News Correspondent, Responsible for gathering information on the tech companies working on IOT, AI, ML, Cloud, Mobile Technologies,

Udit can be reached at [email protected]

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