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Mukesh Ambani invests Rs 67500000 in this newly-incorporated firm for...
No governmental or regulatory approvals were required for the investment, Mukesh Ambani's company said.
Updated : Aug 28, 2024, 06:31 AM IST
 "Mukesh Ambani")
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Mukesh Ambani is the richest man in Asia, who runs Rs 20.31 lakh crore Reliance Industries as chairman. The billionaire has a real-time net worth of USD 115.7 billion, as per Forbes. He continues to expand his business empire and venture into new spaces.
Now, his Jio Leasing Services Limited (JLSL), a wholly-owned subsidiary of Jio Financial Services, said it has invested Rs 67.50 crore in Reliance International Leasing IFSC Limited (RILIL). It is a 50:50 joint venture between JLSL and Reliance Strategic Business Ventures Ltd, an arm of Reliance Industries. The company was incorporated earlier this year.
In a regulatory filing, Jio Financial Services said it has invested 6,75,00,000, 8.1 per cent cumulative optionally convertible preference shares of Rs 10 each of Reliance International Leasing IFSC Limited (RILIL) for cash at par, aggregating Rs 67.50 crore. The investment is made for funding the business operations of RILIL, it said. The investment is a related party transaction and is on an arm's length basis, it added.
"None of the company’s promoter, promoter group and other group companies have any interest in the above investment. No governmental or regulatory approvals were required for the above investment," Jio Financial Services said. It has a market cap of Rs 2.06 lakh crore, as of August 27. Its shares ended at Rs 323.60, up by Rs 0.40, or 0.12% on the BSE.
(With inputs from PTI)
