Related News

Patna: A monumental banyan tree (Ficus benghalensis) located on the Indian Tobacco Company (ITC) campus in Munger has been identified as one of the world’s oldest scientifically dated living trees

NEW DELHI: Unexpected side effects from medicines often come to light only after a drug is widely used. To strengthen monitoring of such cases, India’s drug regulator has directed pharmaceutical

Mathematical model reveals how ambitious you should be. A mathematical model has now cracked the exact degree to which one should be ambitious and unlike conventional wisdom, it says ‘don’t

NEW DELHI: NASA’s Psyche spacecraft has pulled off a dramatic flyby of Mars, capturing striking close-up views of the Red Planet, including the massive Huygens Crater, as it slingshots deeper

For a long time, scientists believed that only amphibians like salamanders could regrow complex limbs. But then came some groundbreaking findings from Texas A&M University. Researchers there discovered that mammals

NASA’s Jet Propulsion Laboratory recently reached a significant achievement in space travel technology. They successfully tested a lithium-fed magnetoplasmadynamic (MPD) thruster, establishing a domestic power milestone for power output in

Trending News

In today’s digital age, the opportunity to make money online without any initial investment is more accessible than ever before. Whether you’re a student looking to earn some pocket money,

In today’s digital world, make money online has become a dream many want to turn into reality. Whether you’re looking for a side hustle or aiming to build a full-time

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

Ambani to invest nearly Rs 16,000 crore in Jio Financial

Word Count: 524 | Estimated Reading Time: 3 minutes


Ambani to invest nearly Rs 16,000 crore in Jio Financial

MUMBAI: Mukesh Ambani’s promoter group firms will invest Rs 15,825 crore in Jio Financial Services through a preferential allotment of up to 50 crore warrants, each priced at Rs 316.5. The capital infusion is expected to support further product rollouts in lending and insurance, expand digital payments, and build its broking and mutual fund operations.The offer is at a slight discount to Jio Financial’s prevailing share price of around Rs 320. The board has cleared the private placement to Sikka Ports Terminals and Jamnagar Utilities and Power, both part of the promoter group and each set to receive 25 crore warrants, which can be converted into equity shares within 18 months.The capital infusion comes weeks after the company entered into a binding agreement with Germany’s Allianz to form a 50:50 reinsurance joint venture and also explore JVs in life and non-life. All three ventures require substantial capital.The fundraising follows the July 2023 demerger of Jio Finance from RIL and its subsequent listing on exchanges in Aug 2023 at Rs 262. Since then, the firm has broadened its presence across multiple segments of financial services.





Source link

Most Popular Articles