Jio Financial Services’ subsidiary -- Jio Leasing Services (JLSL) has invested Rs 46 crore in Reliance International Leasing IFSC (RILIPL) through a rights issue basis. The company has subscribed to and has been allotted 4,60,00,000, 8.1% Cumulative Optionally Convertible Preference Shares (OCPS) of Rs 10 each of Reliance International Leasing IFSC.
The investment is made to fund the business operations of RILIPL. The aggregate investment made by JLSL in RILIPL till date is Rs 247.55 crore. The investment is a related party transaction of JLSL and is on an arm's length basis.
Jio Financial Services (JFSL) operates its financial services business through its consumer facing subsidiaries namely Jio Finance (JFL), Jio Insurance Broking (JIBL) and Jio Payment Solutions (JPSL) and joint venture namely Jio Payments Bank (JPBL).
