Jio Financial’s Promoter raises stake from 45.8% to 46.77% since listing

26 Oct 2023 , 03:23 PM

Jio Financial Services (JFSL), which was spun out from Reliance Industries (RIL) earlier this year, has seen its promoters increase their investment in the NBFC from 45.8% to 46.77% since its initial public offering in August.

According to third-quarter ownership statistics, the promoters purchased 6.1 crore shares. In the meantime, mutual funds’ stake has dropped from 6.27% to 4.71%. FIIs have also cut their holdings to 21.58%, down from 26.4% at the time of IPO.

The company, which debuted on stock markets at the end of August following a demerger from incubator Reliance Industries (RIL), is trading below its listing price of Rs 265 on the BSE and Rs 262 on the NSE.

LIC held 6.66% of the firm’s stake at the end of the September quarter. The Singapore government and the European Growth Fund are two major FIIs.

At around 3.03 PM, Jio Financial Services was trading 2.64% higher at Rs 215.70, against the previous close of Rs 210.15 on NSE. The counter rose to an intraday high of Rs 216.90.

JFSL recorded a 101% Q-o-Q increase in consolidated profit to Rs 668 crore in the September quarter. JFSL’s consolidated total assets were Rs 1,19,598 crore at the end of September, while its consolidated net worth was Rs 1,15,631 crore.

 

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