BUSINESS
Billionaire Mukesh Ambani’s Reliance Industries Ltd, through its wholly owned subsidiary Jio Financial Services Ltd (JFSL), has made an investment of Rs 1,000 crore on Thursday in its other subsidiary Jio Finance Limited (JFL) through equity.
Billionaire Mukesh Ambani’s Reliance Industries Ltd, through its wholly owned subsidiary Jio Financial Services Ltd (JFSL), has made an investment of Rs 1,000 crore on Thursday in its other subsidiary Jio Finance Limited (JFL) through equity. In a stock exchange filing, the JFSL said that that its investment will fund its business operations.
Mukesh Ambani's Jio Financial Services Ltd investment
"Please note that the Company has today (March 27), subscribed to and has been allotted 1,73,77,412 equity shares of Rs 10 each of Jio Finance Limited (“JFL”), wholly owned subsidiary (“WOS”), for cash, aggregating Rs 1,000.24 crore," said JFSL. "The transaction is between the Company and its WOS and hence a related party transaction. It is on an arm's length basis. None of the Company’s promoter / promoter group / other group companies have any interest in the above transaction," it added.
The transaction, being between Jio Financial and its subsidiary, qualifies as a related-party transaction but has been executed on an arm’s length basis. No regulatory or governmental approvals were required for the investment.
The transaction being between the parent company (Jio Financial Services Ltd) and its subsidiary (Jio Financial Limited),it makes for a related-party transaction. The deal was made on fair market terms. The deal was processed without any government regulatory nods as they were not required.
Jio Financial Services in its third quarter, from October to December 2025, witnessed a little 0.3% rise in net profit to Rs 294.8 crore, which was an increase from Rs 293.8 crore in the same quarter in 2023.
In early March, JFSL’s board gave a nod to acquire 7.9 crore shares of Jio Payments Bank Ltd (JPBL) from State Bank of India for Rs 104.54 crore.
Jio Financial Services was started by detaching it from its parent company, Reliance Industries Ltd. It offers diverse financial services, including investing and lending money, insurance services, and payment services.
MS Dhoni should join us in our commentary box after this game, he has lost cricket: Matthew Hayden
Born rich to self-made: Meet world’s youngest billionaires of 2025
Happy Ram Navami 2025: Best wishes, messages, images, greetings and quotes to share
Scarlett Johansson’s alleged stalker arrested for threatening to bomb Saturday Night Live
Who is Raj Angad Bawa, Rohit Sharma’s replacement in IPL 2025, he was bought by MI for…
'Instant Karma': Man pulls Nile crocodile's tail in viral video, regrets it later, see why
MS Dhoni is NOT going to retire, Stephen Fleming has definite answer after CSK vs DC match
Isha Ambani, Shloka Mehta show how to ace ethnic wear at awards ceremony, watch
Meet man, IIM alumnus who is set to lead Rs 147000 crore company that makes Fevicol, he is...
GBSHSE Goa Board Class 10 SSC Result 2025 date announced: Check time, steps to check
Abhishek Bachchan loses cool at paparazzi at Manoj Kumar's funeral, video goes viral - Watch
Ram Navmi 2025: Chef shows how to prepare Lord Ram's favourite drink, shares step-by-step guide
Tata Capital's BIG move, files papers at SEBI for mega Rs 150000000000 IPO; Check details here
What causes that sudden electric shock when you touch someone
MS Dhoni to retire from IPL? Netizens speculate as CSK legend's parents make rare Chepauk appearance
Baba Vanga gives chilling of tsunami in..., what was he doing earlier in life
Is Indian designer Sabyasachi taking over as creative director of Balenciaga? Here’s the truth
Woman, 27, dies by suicide, leaves behind suicide note: 'Chhodna mat usko'
Priyanka Chopra turns heads in cape-sleeved top, draped skirt worth Rs....; WATCH video
Meet woman who once worked at Goldman Sachs, now joins Azim Premji's Wipro in key role as...
Loveyapa OTT release: Here's where you can watch Junaid Khan, Khushi Kapoor-starrer romantic comedy
Not MI skipper Hardik Pandya, Tilak Varma's Retire Out decision against LSG was taken by THIS man
MBOSE SSLC Result 2025 DECLARED: Meghalaya Class 10th toppers list, pass percentage, scorecard
Salman Khan goes to Baahubali writer, meets V. Vijayendra Prasad for...? Here's what we know
Do you know who was real owner of Kohinoor diamond long before Mughals and British? Answer is...
Hardik Pandya creates unwanted record in LSG vs MI match, becomes first IPL captain in history to...
India caught in crosswinds of US aerospace tariffs
IPL trivia: When Preity Zinta, Sandeep Sharma roasted Glenn Maxwell in dressing room | Watch video
100 best food cities in the world 2024-25: 6 Indian cities feature on list; THIS one is in Top 10
MS Dhoni to return as CSK captain in IPL 2025? Reports claim...
Bank Holiday today: Are banks open or closed on April 5, 2025? Here's all you need to know
Taj Mahal earned over Rs 98 crore through ticket sales in FY24, Qutub Minar, Red Fort earned Rs...
Chaitra Navratri Ashtami 2025: Top 10 wishes, shubh muhurat, vidhi for kanya puja and more
Man in Karnataka serves 1.5 years in jail for 'murdering' wife, she turns up alive in court
OpenAI's ChatGPT can now create fake Aadhaar and PAN cards: Will cybercrimes increase due to it?
Mukesh Ambani takes BIG step as Reliance Jio’s free JioHotstar subscription is available until...
'We do not want TikTok to go dark': Donald Trump extends deadline by 75 days
Kareena Kapoor Khan reveals her fitness and beauty secrets: 'works on my own rather....'
‘Omg she is just so smooth’: Mom-daughter duo’s dance to ‘Ramta Jogi’ takes internet by storm
Punjab constable arrested with 17.7 gms of heroin in Bathinda, dismissed from service