Mukesh Ambani’s Jio firm to make Rs 359040000000 deal with Isha Ambani led Reliance, planning to buy…

Mukesh Ambani’s Jio Leasing Services, a subsidiary of Jio Financial Services is planning to make a Rs 359040000000 deal with Isha Ambani led Reliance Retail. As per a report by TechCrunch, Jio Leasing Services is planning to buy telecom equipment, customer premises equipment and devices worth Rs 35904 crore over the next two financial years. The company has reportedly sent out postal ballot notice to shareholders to get approval for the deal.

The reports suggest that Jio Leasing Services Ltd (JLSL) is planning to enter the business of leasing telecom devices along with associated services to customers of Reliance Jio Infocomm. Currently valued at Rs 840000 crore, Reliance Retail will sell the devices to JLSL at cost plus margin.

If the deal is successful, it will be the biggest equipment transaction in the Indian telecom sector. As per the report, through the JLSL leasing model, Mukesh Ambani aims to make it affordable for the masses to get access to the latest 5G devices. The model will also attract more subscribers to Akash Amabni led Reliance Jio. For those who are unaware, Jio is already the biggest telecom operator in India.

As per the report, the transaction will be spread over the financial years ending March 2025 and March 2026.