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Jio Financial Gets Board Nod to Raise $1.8 Billion From Founders

Jio Financial Gets Board Nod to Raise $1.8 Billion From Founders

Bloomberg2 days ago
Jio Financial Services Ltd. plans to raise as much as 158.3 billion rupees ($1.8 billion) from a share sale to its founders, in growing signs that billionaire Mukesh Ambani is doubling down on India's shadow banking sector.
The board of the Mumbai-based firm company approved raising this sum via share warrants at 316.5 rupees per share, according to an exchange filing. That's at a slight discount to Jio Financial's closing share price of 320.3 rupees on Wednesday.
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