Investment in Reliance International Leasing IFSC Private Limited by Jio Leasing Services Limited
JIOFIN · price
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Jio Financial's wholly owned subsidiary, Jio Leasing Services Limited (JLSL), has invested Rs. 46 crore in Reliance International Leasing IFSC Private Limited (RILIPL) by subscribing to 4.6 crore 8.1% Cumulative Optionally Convertible Preference Shares at Rs. 10 each on a rights issue basis. RILIPL is a 50:50 joint venture between JLSL and Reliance Strategic Business Ventures Limited (a wholly owned subsidiary of Reliance Industries Limited). This brings JLSL's total investment in RILIPL to Rs. 247.55 crore so far. The funds will be used to support RILIPL's business operations, and the transaction is being done at arm's length with no promoter or group company interest involved.
This is a routine follow-on capital infusion into an existing JV and is relatively small (Rs. 46 crore) compared to Jio Financial's overall scale. Shareholders should note it strengthens the leasing JV with the Reliance group but is unlikely to move the stock on its own.