Jio Financial buys shares worth INR 1.90 bln in arm Jio Payments Bank
This story was originally published at 17:37 IST on 25 June 2025
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--Jio Financial invests INR 1.90 bln in arm Jio Payments Bank
NEW DELHI – Jio Financial Services Ltd. Wednesday said it has bought 190 million equity shares worth INR 1.90 billion of its subsidiary Jio Payments Bank. "The transaction is between the Company and its wholly owned subsidiary and hence a related party transaction. It is on an arm's length basis," Jio Financial said in an exchange filing. No governmental or regulatory approval was required for the transaction.
Earlier this month, Jio Financial Services bought 79.08 million shares of Jio Payments Bank from State Bank of India for INR 1.05 billion. This acquisition had allowed Jio Payments Bank to become a wholly-owned subsidiary of Jio Financial.
Shares of Jio Financial Services Wednesday ended 0.8% higher at INR 303.30 on the National Stock Exchange. End
Reported by Shubham Rana
Edited by Rajeev Pai
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