Jio Financial Services has increased its stake in Jio Payments Bank Limited (JPBL) to 82.17% after subscribing to 6.8 crore equity shares at ₹10 per share, amounting to a ₹68 crore investment. The transaction, completed on August 27, 2024, boosts Jio Financial’s holding in JPBL from 78.95%.
The investment, classified as a related party transaction, was conducted on an arm’s length basis. Jio Financial confirmed that neither the company’s promoters nor its promoter group have any vested interest in this transaction. The investment received approval from the Reserve Bank of India, with no additional regulatory permissions required.
