Jio Financial Services to get Rs 15,825 cr fund infusion from promoters
board on Wednesday approved
fund infusion
of Rs 15,825 crore through preferential issue of
convertible warrants
to members of the promoter group.
Jio Financial
promoters, including the
Ambani family
and different group holding entities, together own 47.12 per cent of the company.
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Post preferential issuance, promoter group holding would go up to 54.19 per cent.
The board in its meeting on Wednesday approved raising of funds through issuance of up to 50 crore warrants for cash at a price of Rs 316.50 per unit.
Each warrant convertible into one fully paid-up equity share of the company of face value of Rs 10 each at a premium of Rs 306.50 each aggregating up to Rs 15,825 crore by way of preferential issue on a private placement basis to the two promoter entities, it said.
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Post issue, Sikka Ports & Terminals Ltd holding in the company would increase from 1.08 per cent to 4.65 per cent while Jamnagar Utilities and Power Private Ltd holding would more than double from 2.02 per cent to 5.52 per cent, it said.
Jio Financial Services
Ltd (JFSL) reported a 4 per cent increase in consolidated net profit to Rs 325 crore in the first quarter ended June 2025, as against Rs 313 crore in the same quarter a year ago.
The company's total income rose to Rs 619 crore as against Rs 418 crore in the June quarter of the previous year.
During the period, interest income doubled to Rs 363 crore as against Rs 162 crore in the same quarter a year ago.
Total expenses increased significantly to Rs 261 crore from Rs 79 crore in the same quarter of last year.
JFSL, in the quarter, acquired 7.9 crore
equity shares
of
Jio Payments Bank
Limited (JPBL) from
State Bank of India
, representing 14.96 per cent of equity share capital of JPBL for Rs 104.54 crore.
Consequently, JPBL has become a wholly-owned subsidiary effective from June 18 2025. Exceptional item represents the excess of fair value gain on remeasurement of investment in JPBL of Rs 439.16 crore over the goodwill of Rs 410.59 crore relating to this acquisition, it said.
Jio Financial Services, carved out from
Reliance Industries
Ltd, is engaged in the business of investing and financing, insurance broking, payment bank and payment aggregator and payment gateway services.
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