JIO Financial Services Ltd.

Jio Financial Services (JFSL) has subscribed to 6,80,00,000 equity shares of Rs 10 each of Jio Payments Bank (JPBL), for cash at par, aggregating Rs 68 crore for its business purposes. Post this investment, the company’s holding in JPBL has increased from 78.95% to 82.17%. The investment is a related party transaction and is on 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).