Jio Financial to raise Rs 15,825 crore via preferential issue

Jio Financial Services will raise ₹15,825 crore by issuing convertible warrants. Sikka Ports and Jamnagar Utilities will be issued these warrants. The capital will be used for investments in insurance and lending ventures. Jio has tied up with BlackRock for mutual funds. Jio Financial’s board approved the issuance of warrants at Rs 316.50 apiece.

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