Jio Financial Services Ltd

Jio Financial Services Plans Major Fundraise 🚀 – Key Details Inside

- Jio Financial Services approved raising funds through issuance of up to 50 crore warrants at ₹316.50 per warrant.

- Each warrant is convertible into one equity share of ₹10 face value with a premium of ₹306.50.

- Total funds to be raised: ₹15,825 crore.

- Warrants to be issued to promoter group members Sikka Ports & Terminals Limited and Jamnagar Utilities and Power Private Limited.

- Post-conversion, Sikka Ports & Terminals Limited's holding will increase from 1.08% to 4.65%.

- Jamnagar Utilities and Power Private Limited's holding will increase from 2.02% to 5.52%.

- Total promoter group holding post-conversion will be 10.17%.

- Warrants can be converted within 18 months from the date of allotment; unconverted warrants will lapse.