Jio Financial Services Limited
LIC increased its stake in Jio Financial Services from 6.78% to 6.87%, acquiring 22,968,560 additional shares. This increase was due to a rights issue.
A non-banking financial company registered with the RBI, Jio Financial Services operates as a holding company delivering diversified financial services through multiple subsidiaries and joint ventures. The company provides consumer-facing solutions across lending, insurance broking, payment solutions, and payments banking. It serves retail and small business customers through Jio Finance Limited, Jio Insurance Broking Limited, Jio Payment Solutions Limited, and Jio Payments Bank Limited, functioning as the financial services arm of a major Indian conglomerate.
India's largest domestic institutional investor with over Rs 56 lakh crore in total AUM, of which roughly Rs 15 lakh crore sits in listed equities. Holds stakes in virtually every major listed Indian company. When LIC builds or exits a position, it moves markets. Government-owned and mandated to invest policyholder funds in Indian equities and bonds, making it the ultimate long-only, long-term India bull.