The absence of clarity on the new company’s areas of operation and strategies, going into an unfamiliar and highly competitive space, has left investors confused.
Mukesh Ambani is widely regarded as one of the shrewdest business minds in India. He understands that businesses need to be built, prove their sustainability and then have their value unlocked. This has been the playbook of Reliance Industries for decades. Except in the case of his latest venture—Jio Financial Services—which comes across as a case of the tail wagging the dog.
Jio Financial Services listed on stock exchanges late last month even though it wasn’t clear what business it would carry out, how it would operate and whether it would be any different to the other financial services companies. …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi