Jio Financial Allots Shares Worth ₹79 Billion to Promoter Group on Warrant Conversion

Jio Financial Services has allotted 250.0 million equity shares at ₹316.5 per share to promoter group entities following the conversion of warrants issued on a preferential basis.

Entities receiving the shares include Sikka Ports & Terminals and Jamnagar Utilities & Power, both part of the promoter group.

Post allotment, the company’s paid-up equity share capital increased to ₹66.0 billion from ₹63.5 billion. Promoter and promoter group shareholding rose to 49.13% from 47.12% earlier.