Jio Financial's Strategic Investment Surge

Jio Financial Services Ltd's subsidiary, Jio Leasing Services, has invested Rs 45 crore in Reliance International Leasing IFSC Pvt Ltd through a rights issue. This contribution aims to support the business operations and marks a notable related-party transaction executed on an arm's-length basis.

Jio Financial Services Ltd (JSFL) announced on Friday a substantial investment by its subsidiary, Jio Leasing Services Ltd (JLSL), amounting to Rs 45 crore in Reliance International Leasing IFSC Pvt Ltd. This investment has been made through a rights issue.

The deal involves JLSL subscribing to 4,50,00,000 Cumulative Optionally Convertible Preference Shares valued at Rs 10 each, representing an 8.1 per cent stake in Reliance International Leasing IFSC Pvt Ltd, according to a regulatory disclosure.

This financial move is a related-party transaction, undertaken at arm's-length. It brings JLSL's total investment in the joint venture to Rs 166.55 crore, aimed at funding the business operations of Reliance International Leasing IFSC Pvt Ltd.

(With inputs from agencies.)