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Economic Times

Jio Financial Services shares in focus after board approves Rs 15,825 crore fundraise via warrants

Shares of Jio Financial Services will be in focus on Thursday after the company's board approved a proposal to raise up to Rs 15,825 crore through the preferential issue of 50 crore warrants. ADVERTISEMENT The warrants will be issued for cash at Rs 316.50 each, including a face value of Rs 10 and a premium of Rs 306.50. Each warrant is convertible into one fully paid-up equity share and will be allotted on a private placement basis to promoter group entities, subject to shareholder and regulatory approvals. The conversion can be done in one or more tranches within 18 months from the allotment date. Warrants not converted in time will lapse, and the amount paid will be forfeited. Jio Financial Services reported a net profit of Rs 325 crore for Q1FY26, up 4% from Rs 312.63 crore in the year-ago period. Revenue rose 46.6% year-on-year to Rs 612.46 crore from Rs 417.82 Jio BlackRock — the firm's 50:50 joint venture with BlackRock — has received SEBI approval to launch four passive funds. These include index funds tracking the Nifty Midcap 150, Nifty Next 50, Nifty Smallcap 250, and the Nifty 8–13 Year G-Sec Index. ADVERTISEMENT According to Trendlyne, the average target price for Jio Financial Services is Rs 301, indicating a potential downside of about 6%. Of the two analysts tracking the stock, the consensus recommendation is 'Hold'.On the technical front, the stock is showing a neutral trend. The Relative Strength Index (RSI) stands at 56.2, indicating balanced momentum. The MACD is at 4.0—above the centre line but below the signal line. ADVERTISEMENT The stock is trading above all key long-term moving averages (30-day, 50-day, 100-day, 150-day, and 200-day), suggesting strength in the broader uptrend. However, it is currently below short-term averages such as the 20-day SMA. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)