Jio Financial Services Invests Rs. 1999.88 Crore in Wholly Owned Subsidiary Jio Credit Limited

Jio Financial Services Ltd. has invested Rs. 1999.88 crore in Jio Credit Limited (JCL), a wholly owned subsidiary and non-banking financial company. The investment was made for cash at a premium of Rs. 585.70 per equity share. The funds will be utilized by JCL for its business operations. The transaction is a related party transaction, made on an arm's length basis. The investment was made today at 11.30 a.m. No promoter, promoter group, or other group companies have any interest in the investment. No governmental or regulatory approval was required for the transaction.