New Delhi, Jul 30 (PTI) Jio Financial Services board on Wednesday approved fund infusion of ₹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 ₹316.50 per unit.
Each warrant convertible into one fully paid-up equity share of the company of face value of ₹10 each at a premium of ₹306.50 each aggregating up to ₹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 ₹325 crore in the first quarter ended June 2025, as against ₹313 crore in the same quarter a year ago.
The company’s total income rose to ₹619 crore as against ₹418 crore in the June quarter of the previous year.
During the period, interest income doubled to ₹363 crore as against ₹162 crore in the same quarter a year ago.
Total expenses increased significantly to ₹261 crore from ₹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 ₹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 ₹439.16 crore over the goodwill of ₹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.
