Jio Financial shares rise 4 per cent after warrant conversion
The company allotted 12.5 crore equity shares each to two promoter-group entities, increasing their combined stake to 50.98 per cent.
Jio Financial Services shares rose nearly 4 per cent on Monday, 2 November, following the completion of a warrant conversion process, according to Mint. The company allotted 12.5 crore equity shares each to Sikka Ports & Terminals Ltd and Jamnagar Utilities & Power Pvt Ltd at ₹316.50 per share.
The allotment, which includes a face value of ₹10 and a premium of ₹306.50 per share, was approved by the board's Stakeholders’ Relationship Committee on 30 October. This follows a warrant conversion process that began in September 2025.
Following the allotment, the combined shareholding of promoters and promoter-group entities increased to 50.98 per cent from 49.13 per cent. Sikka Ports & Terminals' holding rose to 4.65 per cent from 2.93 per cent, while Jamnagar Utilities & Power's stake increased to 5.52 per cent from 3.84 per cent.
The company's paid-up equity capital has increased to ₹6,853.14 crore, consisting of 685.31 crore shares. On the BSE, the stock opened at ₹206.85, reached an intraday high of ₹212.10, and hit a low of ₹206.60.
In the September quarter of FY27, Jio Financial Services reported a 51 per cent year-on-year decline in consolidated net profit to ₹340.44 crore. However, total income for the same period rose nearly 70 per cent to ₹1,699.41 crore from ₹1,002.40 crore a year earlier.