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Reliance Targeting Jio Financial Listing as Soon as October, Sources Say

  • Billionaire’s group in talks with regulators for approvals
  • Shareholders, creditors to hold May 2 vote on spinoff

Reliance Industries Ltd. is planning to list its digital financial services unit as soon as October, according to people familiar with the matter.

The conglomerate, controlled by billionaire Mukesh Ambani, is in talks with Indian regulators to secure the necessary approvals for the market debut of Jio Financial Services Ltd. in Mumbai, one of the people said, asking not to be identified as the information is private. The parent is holding a meeting of shareholders and creditors on May 2 to vote on the plan to spin off and list the unit, according to an exchange filing in March.