Jio Financial Services’ share price rose 3.55% to an intra-day high of Rs 331.70 on the National Stock Exchange. The stock was the top gainer in the Nifty 50, outperforming the overall market. The uptick in the stock price of Jio Financial Services came after the board of Jio Financial Services approved a plan to raise Rs 15,825 crore from promoter-group entities through a preferential issue of warrants.
The board approved the plan to issue 50 crore warrants at Rs 316.50 per equity share, with each warrant carrying a face value of Rs 10 and a premium of Rs 306.50.
The proposed allottees of the preferential issue are Jamnagar Utilities and Power Pvt. Ltd. and Sikka Ports & Terminals Ltd., which currently hold 5.52% and 4.65% stakes, respectively.
The warrants will be made available through a private placement to members of the promoter group, subject to shareholder approval. Each warrant is eligible for conversion into one equity share within 18 months from the allotment date. Any warrants that remain unconverted by that time will expire, and the amount paid will be forfeited.
Jio Financial Services Q1 FY26 results
Jio Financial Services posted a 3.8% YoY rise in Q1 profit after tax to Rs 324.66 crore, as against Rs 312.63 crore reported in the same period a year ago. The company’s revenue from operations saw a sharp 46.58% YoY jump to Rs 612.46 crore. The revenue stood at Rs 417.82 crore in Q1 FY25.
Jio Financial Services’ stock performance
The share price of Jio Financial Services has risen 5% in the last five trading sessions. The stock has remained little unchanged in the past one month and has given a return of 36% in the last six months. Jio Financial Services’ share price has risen 0.4% in the past one year.