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  Reliance Industries Ltd., headed by Chairman Mukesh Ambani, is gearing up to list shares of its financial services business soon. This move comes as the conglomerate aims to establish it’s recently carved out unit, Jio Financial Services Ltd, as India’s largest non-banking lender. Leveraging the strength of its digital and retail businesses, the company sees a unique opportunity to transform the landscape of digital finance in India.

Mukesh Ambani highlighted in a message to shareholders that Jio Financial Services is well-positioned to capture growth opportunities in the financial services sector. By creating a separate entity for its financial services, Reliance aims to unlock value for its shareholders and provide them with the chance to participate in a new growth platform.

Last month, Jio Financial Services announced a joint venture with U.S.-based BlackRock Inc to launch asset management services in India. This move further strengthens Reliance’s position in the financial services sector. The demerger of Jio Financial Services, valued at around $20 billion, provides the conglomerate with an avenue for expansion in the lucrative financial services space, particularly given its existing non-bank financial company license.

Apart from its financial services ventures, Reliance Industries is also making strides in transitioning to more sustainable practices. As the largest producer of grey hydrogen, the company has set a target to progressively shift towards green hydrogen by 2025. This commitment reflects Reliance’s efforts to contribute to a cleaner and greener energy future.

Overall, Reliance Industries’ strategic moves in both financial services and sustainable energy sectors showcase its commitment to growth and innovation. The listing of its financial services business and the focus on green hydrogen underline the company’s vision for the future and its determination to remain at the forefront of India’s business landscape.