New Delhi, Oct 27 (IANS) Reliance Jio on Friday successfully demonstrated India’s first satellite-based giga-fibre service to provide high-speed, affordable Internet services in inaccessible areas across the country.

Called JioSpaceFiber, it was showcased on the first day of ‘India Mobile Congress 2023’ in the presence of Prime Minister Narendra Modi.

Jio is partnering with Luxembourg-based satellite telecommunications network provider SES to access the world’s latest in medium earth orbit (MEO) satellite technology, the only MEO constellation capable of delivering gigabit, fibre-like services from space.

“With JioSpaceFiber, we expand our reach to cover the millions yet to be connected,” said Akash Ambani, Chairman, Reliance Jio Infocomm Ltd. 

“JioSpaceFiber will allow everyone, everywhere, to fully participate in the new digital society with gigabit access to online government, education, health, and entertainment services,” Akash Ambani added.

Jio currently delivers high-speed broadband fixed-line and wireless services to over 450 million consumers. 

The satellite network will also support additional capacity for mobile backhaul, further enhancing the availability and scale of Jio True5G in the remotest parts of the country.

Four of the remotest locations in India have already been connected with JioSpaceFiber -- Gir, Gujarat; Korba, Chhattisgarh; Nabarangpur, Odisha; and ONGC-Jorhat, Assam.

“Together with Jio, we are honoured to support the government’s ‘Digital India’ initiative with a unique solution that aims at delivering multiple gigabits per second of throughput to any location in India,” said John-Paul Hemingway, Chief Strategy Officer at SES. 

“Our first fibre-like services from space are already deployed today in parts of India, and we cannot wait to see how this will lead to digital transformation even in the most rural parts of the country,” he added.

New Delhi, Sep 19 (IANS) Jio Financial Services will emerge as a disruptive force in the financial space, but the scale buildup will take time, Elara Capital said in a research.

Jio Financial is a financial powerhouse in the making, operating fintech & new-age biz. Jio Financial will transform into a NBFC-CIC. And, this will be a holding company that operates the financial services business via its consumer-facing subsidiaries.

“We see it operating like a fintech & new-age, success factors, such as creating a flywheel effect: it will work on the principle of acquisition, engagement, & monetisation. Huge data and wide distribution bolster this potential,” the report said.

The success of a go-to-market business model is contingent on the flywheel effect. And, Jio Financial can leverage on the Group strength: more than 18,000 retail stores, over 50mn registered users, and 400mn plus customers of its telecom business. Add to this, a robust capital base, strong promoter (feeding into the credit rating), nimble tech architecture and a visionary leader with an experienced team (formation underway) provides Jio Financial a good Launchpad, the report said.

While Jio Financial has the ingredients to be a potent disruptor, in our view, the modus operandi of “money in” vs “money out” business is different. The lending (leverage) business has its own learning curve, and the firm will be no different; thus, it will be tough to replicate the Jio moment. While Jio Financial will be a Digital First institution, laying risk management base and establishing a collection framework will take precedence.

“Organically, assuming the level of penetration, we see Jio Financial to be a disrupting force, but not to extent the markets project,” the report said.

“We believe Jio Financial’s value creation journey will be determined more by its new partnerships than pure business outcome, and valuation will be front-ended. Based on the current business model, working with a holdco discount and BV multiple looks inconclusive and this will evolve, and, in this context, capital allocation becomes key,” the report said.

New Delhi, Aug 21 (IANS) Shares of Jio Financial Services (JSF) hit a lower circuit of 5 per cent on the listing day on Monday.

The shares were locked in the lower circuit of 5 per cent at Rs 251.75 on BSE.

The shares listed at Rs 265 per share, a marginal premium over its derived price of Rs 261.85.

The stock is admitted to dealings in the 'T' group securities on BSE, which means intra-day trading in the stock is not allowed. The scrip will be in the Trade-for-Trade segment for 10 trading days.  

Reliance Industries is also trading down by more than 1 per cent at Rs 2,529 on BSE.

The listing is pursuant to the Scheme of Arrangement between Reliance Industries Limited (Demerged Company) & its Shareholders and Creditors & Jio Financial Services Ltd (Formerly known as Reliance Strategic Investments Limited) (Resulting Company) & its Shareholders and Creditors, sanctioned by NCLT Mumbai Bench.

Under the scheme for the transfer and vesting of Financial Service Business of Reliance Industries Limited into Jio Financial Services Ltd (Formerly known as Reliance Strategic Investments Limited); Jio Financial Services Ltd (Formerly known as Reliance Strategic Investments Limited) shall issue and allot Equity Shares to the shareholders of Reliance Industries Limited “1 (One) Fully Paid-Up Equity Share of Rs 10/- each of Jio Financial Services Ltd shall be issued and allotted for every 1 (One) Fully Paid- Up Equity Share of Rs 10/- each held in Reliance Industries Limited”.

New Delhi, Aug 18 (IANS) BSE has informed trading members of the Exchange that effective from Monday (August 21), the equity shares of Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited) shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities.

The scrip will be in Trade-for-Trade segment for 10 trading days.  

The members are requested to note that the above security will be a part of special pre-open session for IPO and Other category of scrips.

The listing is pursuant to the Scheme of Arrangement between Reliance Industries Limited (Demerged Company) & its Shareholders and Creditors & Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited) (Resulting Company) & its Shareholders and Creditors, sanctioned by NCLT Mumbai Bench.

Under the scheme for the transfer and vesting of Financial Service Business of Reliance Industries Limited into Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited); Jio Financial Services Ltd (formerly known as Reliance Strategic Investments Limited) shall issue and allot Equity Shares to the shareholders of Reliance Industries Limited "1 (One) Fully Paid-Up Equity Share of Rs 10/- each of Jio Financial Services Ltd shall be issued and allotted for every 1 (One) Fully Paid- Up Equity Share of Rs10/- each held in Reliance Industries Limited."

Prior to the Scheme, the paid-up Equity Capital of Jio Financial Services Ltd was Rs 2,02,02,000/- consisting of 20,20,200 equity shares of Face Value of Rs 10/- each and the same shall stand cancelled upon the scheme coming effect.

The issued, subscribed and paid-up equity capital of Jio Financial Services Ltd, post arrangement is Rs 6353,28,41,880/- consisting of 635,32,84,188 equity shares of face Value of Rs 10/- each fully paid.

New Delhi, Aug 1 (IANS) Reliance Industries is on the path of unlocking value across business segments, evident from the recent IPO of Jio Financial Services (JFS), buyout of minorities/potential investor in Reliance Retail and the stabilizing of Telecom capex, foreign brokerage, Bernstein said in a report.

The report analyses the potential unlocking opportunities across businesses with 'path to potential IPOs' a key medium term catalyst.

Reliance has sold strategic stakes over the years across various business - E&P stake sale to BP in 2011, 10 per cent stake in Reliance Retail and 33 per cent stake in Jio platforms to global investors in 2020.

Recently it de-merged Jio Financial Services (JFS) into a separate listed company.

Reliance has been unlocking value across segments. RIL bought out minority shareholders in Reliance Retail (RR) with a share buyback, the report said.

Recent news article reported that a new investor is expected to buy 1 per cent stake in RR at $100 billion valuation. RRVL (hold co) had sold stake sales of 10 per cent to financial investors in 2020.

JPL (Jio platforms) has 33 per cent global investors and could be on IPO route in short/medium term. Capex cycle stabilizing. Jio has completed 60 per cent 5G roll out and capex is expected to stabilize from FY25/26 as earnings scale up.

Digital/Telco represent 35-40 per cent of total EBITDA over the next 5 years while Retail (offline + online) will expand to 15-20 per cent, the report said.

Reliance targets to fund future capex from operating cash flow and maintain net debt to EBITDA of less than 1x. Net debt to EBITDA was 0.6x in FY23.

Reliance has repositioned the company to focus on four key growth pillars: Expansion of O2C business into downstream chemicals with investments by strategic partners. The company has build out of Reliance Retail (18K stores) & scaling omnichannel (eCommerce mix at 18 per cent).

The Telco/Jio platform segment is expanding (currently 450 Mn subs) with 5G rollout and the company continues to scale up in new energy by accelerating investments in energy transition.

Jio Platforms has 33 per cent global investors, Retail has 10 per cent investors. The company has not diluted stake in the new energy segment, the report said.

New Delhi, July 20 (IANS) Jio Financial Services Limited shares have been valued at Rs 261 apiece; which makes the soon-to-be-listed company India's 32nd most valuable companies.

Reliance Industries had kept July 20 as the record date for allotment of its demerging Financial Services business to be named as Jio Financial Services Limited (JFSL).

Accordingly, the shareholders of Reliance Industries Limited as on July 20 are set to receive the shares of the newly created JFSL in 1:1 proportion.

Thanks to the demerger, the market price of Reliance Industries shares went ex-JFSL on Thursday.

As a result, the stock exchanges held a special price discovery session for Reliance Industries shares from 9 a.m. to 10 a.m.

Accordingly, the ex-JFSL value of RIL shares was discovered at Rs 2,580 on NSE and Rs 2589 on BSE.

RIL's cum-JFSL (pre-demerger) closing share price on NSE was Rs 2,841.85, while the Last Traded Price on BSE was Rs 2,840 on  July 19.

Comparing the newly discovered ex-JFSL price of RIL shares, and the pre-demerger cum-JFSL share price on the previous day, the market has valued each JFSL share at Rs 261.85 on the NSE.

At this share price, the entire share capital of JFSL will be valued at Rs 1,72,000 crore or over $21 billion.

This valuation will put JFSL at India's 32nd most valuable company by market capitalization ahead of the likes of Adani Ports, Adani Green, Tata Steel, Coal India, HDFC Life, IOC, Bajaj Auto.

JFSL shares will become available for trading in stock exchanges in near future.

Gujarat: The state government has directed its employees to transition from Vodafone Idea to Reliance Jio mobile services, resulting in mixed reactions across government offices. A recent circular issued by the government has mandated the change, although the reasons behind the decision have not been revealed.

Under the new arrangement, the mobile numbers of government employees will remain unchanged, but their service provider will switch to Reliance Jio. The circular orders all offices to implement these changes immediately.

As part of the agreement with Reliance Jio, government employees will be offered a Closed User Group (CUG) plan at a monthly rental of Rs 37.50. The plan includes free calling and 3000 SMS messages to any mobile operator or landline, with subsequent charges of 50 paise per SMS and Rs 1.25 for international messages. Employees can also access various 4G and 5G data plans at additional costs.

The transition to Reliance Jio is expected to impact thousands of state government mobile phones, as employees across Gujarat adapt to the new service provider.

New Delhi, Feb 22 (IANS) Jio Haptik Technologies Limited, a subsidiary of Reliance Jio Platforms, on Wednesday announced that it plans to use ChatGPT AI and Generative AI to build the most human-like bots for large enterprises.

The announcement comes as the company launches four beta features that are going to be powered by the latest Generative AI technology.

Haptik Co-founder and Chief Technology Officer, Swapan Rajdev said: "At Haptik, we have already been using GPT 2 and GPT 3 to augment the bot training data for higher accuracy. ChatGPT uses GPT-3.5 and is a whole different ball game altogether. I'm glad to announce our four upcoming beta launches that can humanize your bot, engaging in free-flowing conversations with your customers without hours of manual training and effort."

The company said that the emergence of GPT-3.5 will allow Haptik to improve the accuracy of the chatbot's responses.

By leveraging an accurate chatbot that engages in meaningful and human-like conversations, enterprises will be able to offer a better customer experience (CX), improve customer engagement, reduce drop-offs, and ultimately, foster stronger customer relationships.

Haptik said that its new beta features will be made available to all its customers and will be deployed across the platform.

It estimates that the features will help enterprises improve their CSAT metric by 10-15 per cent thanks largely to the humanised, more accurate responses of the chatbot, the company said.

Haptik also said that the go-to-market and build time will be reduced by at least 30 per cent.