Jio Financial board clears ₹15,825 cr fundraise via warrants to bolster expansion plans
Mumbai: Jio Financial Services Ltd’s board on Wednesday approved a major fundraising initiative that the company had earlier disclosed to stock exchanges on July 26, The Economic Times reported.
The capital will be raised through the issuance of up to 50 crore warrants, priced at ₹316.50 each.
These warrants, which can be converted into one fully paid-up equity share each, comprise a face value of ₹10 and a premium of ₹306.50.
The preferential allotment will be carried out on a private placement basis to two promoter group entities — Sikka Ports & Terminals Ltd and Jamnagar Utilities and Power Private Ltd.
Post-issue, Sikka Ports & Terminals will see its stake in Jio Financial increase from 1.08% to 4.65%, while Jamnagar Utilities’ holding will rise from 2.02% to 5.52%.
This infusion of capital will further consolidate the promoter group’s grip over JFSL.
The company, which was spun off from Reliance Industries in 2023, has the Ambani family and various holding firms within the group as its promoters.
The move is widely viewed as a strategic push to reinforce the company’s balance sheet and fuel its ambitions in lending, insurance, and digital payments.
Shares of Jio Financial ended the day slightly lower on the NSE, slipping 0.34% from the previous day’s close.
Year to date, the stock has gained 5%, though its one-year return stands at a negative 3%.
Operationally, JFSL posted a 4% year-on-year growth in consolidated net profit for the June 2025 quarter, reporting ₹325 crore compared to ₹313 crore in the same period last year.
On a sequential basis, profit after tax (PAT) rose 27% from ₹256 crore in the March 2025 quarter.
The company’s revenue also showed strong momentum, climbing 24% from ₹493 crore in Q4FY25.
Interest income rose to ₹363 crore from ₹276 crore in the previous quarter and ₹162 crore in the year-ago period.
Income from fees, commissions, and other services came in at ₹53 crore in Q1FY26, up from ₹39 crore in Q4FY25 and ₹38 crore in Q1FY25.
The promoter holding in Jio Financial Services (JFSL) is set to rise from the current 47.12% to over 54% following a ₹15,825 crore infusion by the Mukesh Ambani family through a preferential allotment of convertible warrants to the promoter group.
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