Jio Financial Services Limited on Thursday (March 27) said it has invested ₹1,000.24 crore in its wholly-owned subsidiary, Jio Finance Limited (JFL), through a subscription of 1,73,77,412 equity shares at ₹10 each. The capital infusion will support JFL’s business operations.

“Please note that the company has today 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. 1000.24 crore. JFL will utilise the amount to fund its business operations,” Jio Financial Services said in a regulatory filing.

Also, Jio Financial Services has invested ₹85 crore in Jio Payments Bank Limited (JPBL) by subscribing to 8.5 crore equity shares at ₹10 each. The capital infusion is aimed at supporting JPBL’s business operations. Following this investment, Jio Financial’s stake in JPBL has increased from 82.17% to 85.04%.

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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.

Jio Financial Services reported a 0.3% year-on-year (YoY) increase in net profit at ₹294.8 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, Jio Financial Services posted a net profit of ₹293.8 crore.

The company’s revenue from operations rose 6% to ₹438.4 crore against ₹413.6 crore in the corresponding period of the preceding fiscal. Jio Financial Services saw an increase in its assets under management (AUM), rising to ₹4,199 crore, compared to ₹1,206 crore in Q2 FY25.

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The payments bank also experienced robust growth, with its CASA (Current Account and Savings Account) customer base expanding by 25% quarter-on-quarter to 1.89 million. Additionally, JFSL embedded its payment solutions into JioBharat.

Shares of Jio Financial Services Limited ended at ₹225.90, up by ₹3.50, or 1.57%, on the BSE.

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