Jamnagar Utilities & Power Private Limited, a promoter entity, increased its stake in Jio Financial Services from 1.94% to 3.83% by purchasing 12.5 crore shares for ₹2934.38 Cr at ₹234.75 apiece. This was an inter-se promoter transfer.
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.
