Mukesh Ambani JM Financial

Mukesh Ambani JM Financial

Mukesh Ambani is the Indian Billionaire Business Tycoon. His majority of fortune comes from his 51% stake in Reliance Industries. Forbes had estimated his net worth US $ 29 Billion making him India’s richest and world’s fourth richest person in the world.

Recently, According to Media News,

Mukesh Ambani is planning to buy a majority stake in JM Financial, The old asset management company in India since 1994.

is in talks to buy a majority stake in JM Financial Asset Management that oversees $1.8 billion in assets, a source with direct knowledge of the situation said on Monday.

The talks are in early stages and the terms of the deal have not been finalised yet, said the source, who could not be identified as he was not authorised to speak to the media.

The source said the deal value could be 8% of the assets under management at the unit of financial services firm JM Financial, backing a report in the Mint newspaper.

JM Financial Asset Management denied the selloff plans.