Jio Financial Services infuses Rs 2000 crore in Jio Credit
The JCL is a non-banking financial company and will utilise the amount to fund its business operations
Jio Financial Services has infused around Rs 2000 crore in its wholly owned subsidiary -- Jio Credit (JCL). The JCL is a non-banking financial company and will utilise the amount to fund its business operations.
The fund infusion has been done through allotment of 3,35,71,923 equity shares of Rs 10 each of JCL to the company. The shares have been subscribed at a premium of Rs 585.70 per equity share.
Jio Financial Services (JFSL) operates its financial services business through its consumer facing subsidiaries namely Jio Finance (JFL), Jio Insurance Broking (JIBL) and Jio Payment Solutions (JPSL) and joint venture namely Jio Payments Bank (JPBL).
