Latest News | Jio Financial Services to Get Rs 15,825 Cr Fund Infusion from Promoters
Get latest articles and stories on Latest News at LatestLY. Jio Financial Services board on Wednesday approved fund infusion of Rs 15,825 crore through preferential issue of convertible warrants to members of the promoter group.
New Delhi, Jul 30 (PTI) Jio Financial Services 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.
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.
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.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)