Overview
- Jio Financial’s board approved issuing 50 crore convertible warrants at Rs 316.50 each on a preferential basis to its promoter group entities
- Proceeds of Rs 15,825 crore will boost promoter ownership from 47.12% to 54.19%, securing majority control
- Each warrant is convertible into one fully paid equity share within 18 months, with unexercised warrants lapsing and advance payments forfeited
- Shares gained over 3% on July 31 following the announcement as investors reacted positively to the fundraising plan
- The capital infusion follows a strong Q1 FY26 performance with net profit up 3.85% to Rs 324.7 crore and revenue rising 46.6% to Rs 612.5 crore