Business Update25 Aug 2024, 12:45 am
Jio Financial Services Ltd Receives Approval for 49% Foreign Investment Limit
AI Summary
Jio Financial Services Ltd has received approval from the Department of Economic Affairs, Ministry of Finance, for an increase in the foreign investment limit to 49% of the paid-up equity share capital on a fully diluted basis. This approval also includes existing foreign investment in the company.
Key Highlights
- Jio Financial Services Ltd receives approval for a 49% foreign investment limit
- The approval includes existing foreign investment in the company
- The aggregate limit of foreign investment (including FPls) in the company is increased to 49% of the paid-up equity share capital on a fully diluted basis