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Jio Financial Services Ltd Plans and Market Focus

Shares of Jio Financial Services Ltd (JFS) are anticipated to capture attention in WednesdayÔÇÖs trading after the demerged entity of Reliance Industries Ltd clarified it has no intentions to raise money through bond issuance or any other means. This clarification comes in light of a Reuters report suggesting that there could be a potential fundraise of Rs 5,000-10,000 crore through bond issuance in the March quarter. The report, quoting four bankers, indicated that Jio Financial was in the process of obtaining necessary approvals and credit ratings for the potential bond issuance.

While the news portrayed a possibility of the fundraising, Jio Financial has rebutted it as speculative. In a filing to BSE, Jio Financial emphasized their commitment to compliance with their obligations under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and agreements with the stock exchanges.

As a result of this news, Jio Financial shares experienced a 2.02 per cent rise, closing at Rs 219.85 on Tuesday, marking a 6.41 per cent increase in the last month. Additionally, the company also confirmed the submission of an application for the conversion of the Company from NBFC to CIC. This move is in accordance with the mandate set by the Reserve Bank of India (RBI) while granting approval for the change in the shareholding pattern and control of the company following the demerger of the Financial Services business from Reliance Industries Limited into the company.

Jio Financial Services Ltd, which got listed in August, has set its sights on establishing itself as a full-service financial services firm offering home, auto loans, and various other financial products.

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The AI legalese decoder offers a solution for businesses like Jio Financial Services Ltd to navigate through legal and regulatory jargon with ease. By employing AI-powered technology, the decoder can assist in the interpretation of complex legal documents, ensuring compliance with SEBI regulations and stock exchange agreements. Additionally, it can streamline the process of understanding and implementing regulatory requirements, such as the conversion of the company from NBFC to CIC mandated by the RBI. This not only saves time and resources but also minimizes the risk of misinterpretation or non-compliance.

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