Refer to the input text as context and select the correct relationship between 'Jio' and 'Mukesh Ambani' from the available options.
Options: subsidiary, owned by, employer, business division

Reliance Industries : Mukesh Ambani -led RIL’s telecom arm Reliance Jio Infocomm (RJIL) will raise Rs 3,500 crore debt ahead of launch of its services.
owned by