Jio Financial board to discuss fundraise plans today
Jio Financial Services
, Mukesh Ambani-owned Reliance Group's financial services company, will meet on Wednesday to consider raising funds through
equity shares
or warrants in a rights or preferential issue, or a
qualified institutional placement
(QIP). The company might explore any other method, too, for raising funds, it said in a notice to the exchanges.
Jio Financial promoters, including the Ambani family and different group holding entities, together own 47.12% of the company.
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"The promoters are likely to raise their stake to 51% from the current 47% through a preferential issue, with shares expected to be priced at ₹318 apiece," said a person who was familiar with the development. The move could infuse around ₹8,000 crore into the company.
On Tuesday, the company's shares ended at ₹321 on the BSE up 4.48% from Monday's close.
Jio Financial Services, which has partnered the world's biggest asset manager
BlackRock
to offer fund management services, had reported a 4% on-year growth in net profit in the June quarter on rising interest income. Profit increased to ₹325 crore, from ₹313 crore a year ago, mainly due to a doubling in interest income.
Expenses at Jio tripled to ₹261 crore in June 2025 from ₹79 crore a year ago due to higher finance and employee costs. Total income increased 48% to ₹619 crore from ₹418 crore a year ago. Jio Credit's (JCL) total assets under management stood at ₹11,665 crore at the end of June 2025, up from ₹217 crore a year ago. The NBFC arm did not reveal the size of its loan book. Jio BlackRock Asset Management, the mutual fund arm of Jio, commenced operations, launching its maiden new fund offer (NFO) for three cash/debt funds last quarter. The three funds attracted a total of ₹17,800 crore.
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