According to the notice, two promoter group entities – Sikka Ports & Terminals and Jamnagar Utlilies and Power Private – will collectively increase their shareholding in the company to 10.17 per cent from 3.10 per cent currently.
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Jio Financial Services (JSF) Board today approved raising ₹15,825 crore from its promoter entities through a preferential issue of warrants, according to an exchange filing.
“…The Board of Directors of the Company at its meeting held today considered and approved raising of funds through issuance of up to 50 crore warrants for cash at a price of ₹316.50 per warrant, 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 private placement basis…,” said the notice. Shares of JFS ended trading 0.3 per cent lower at ₹320 apiece on the BSE on Wednesday.
According to the notice, two promoter group entities – Sikka Ports & Terminals and Jamnagar Utlities and Power Private – will collectively increase their shareholding in the company to 10.17 per cent from 3.10 per cent currently. Promoters of JFS held 47 per cent stake in the company as on June-end. According to sources, the fresh funds will be utilised for business growth plans, primarily in the cash intensive insurance business.
Earlier this month, JFS and Allianz Group, through its wholly-owned subsidiary Allianz Europe BV, entered into a binding agreement to form an equal domestic reinsurance joint venture for the Indian market. The two companies also entered a non-binding agreement for setting up equally owned joint ventures for both general and life insurance businesses in India.
Published on July 30, 2025