Jio Financial To Raise ₹158.25 Billion Via Preferential Issue Of Warrants

Jio Financial Services Ltd. said its board has approved raising up to ₹158.25 billion through issuance of 500 million warrants at ₹316.50 apiece. These will be issued on a preferential basis via private placement to Sikka Ports & Terminals Ltd. and Jamnagar Utilities and Power Ltd.

Following the issue, Sikka Ports & Terminals’ stake will rise to 4.65% from 1.08%, while Jamnagar Utilities and Power’s holding will increase to 5.52% from 2.02%, the company said.