Jio Financial Services Ltd (JFS) has approved a fundraise of up to ₹15,830 crore through a preferential issue of equity warrants to promoter group entities, at an issue price of ₹316.50 per share. The move reflects a significant capital infusion to support the company’s long-term expansion strategy in the financial services sector.
The company’s board approved the issuance of 50 crore convertible warrants, each entitling the holder to subscribe to one equity share of face value ₹10. These warrants will be issued on a private placement basis to:
-
Sikka Ports & Terminals Ltd
-
Jamnagar Utilities and Power Pvt Ltd
Shareholding Post-Issue
Upon full conversion:
-
Sikka Ports & Terminals’ stake will increase from 1.08% to 4.65%
-
Jamnagar Utilities and Power’s holding will rise from 2.02% to 5.52%
-
Combined promoter holding will grow to 10.17%, from the current 3.10%
The warrants will be convertible in one or more tranches within 18 months from the date of allotment. Any unconverted warrants by the end of this period will lapse and be forfeited.
Board Meeting Summary
-
Meeting Start: 4:30 PM IST
-
Meeting End: 5:12 PM IST
The proposed preferential issue is subject to necessary shareholder and regulatory approvals. The fundraising is seen as a strategic step toward strengthening JFS’s balance sheet and enhancing its financial services footprint.
