Mukesh Ambani to start financial services business

Reliance Industries forays into financial services through a joint venture with DE Shaw.
Mukesh Ambani teams up with D.E. Shaw to move into financial services.
Mukesh Ambani teams up with D.E. Shaw to move into financial services.

Reliance Industries will form a joint venture with DE Shaw Group to build a financial services business in India.

The partnership brings together India’s largest private-sector company and a global investment firm with approximately $20 billion in capital as of earlier this month.

“The JV will incorporate the DE Shaw group’s investment and technology expertise with Reliance’s operational knowledge and extensive presence across India to offer a comprehensive array of financial services to the Indian marketplace,” said the two partners in a press release issued earlier this week.

DE Shaw has had operations in India for the past 15 years. It has more than...

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