Notice of the Second Annual General Meeting (Post Listing) and the Annual Report for the financial year 2024-25
JIOFIN · price
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Jio Financial Services has called its 2nd post-listing AGM for Thursday, August 28, 2025 at 2:00 p.m. via video conferencing. Shareholders will vote on adopting FY25 audited financials, declaring a dividend of ₹0.50 per equity share (face value ₹10), and re-appointing Ms. Isha M. Ambani as Director (retiring by rotation). A new secretarial auditor, S. N. Ananthasubramanian & Co., is proposed for a 5-year term from FY26 to FY30. The most significant item is a proposal to issue up to 50 crore warrants on a preferential basis to two promoter group entities — Sikka Ports & Terminals Ltd and Jamnagar Utilities and Power Pvt Ltd — at ₹316.50 per warrant, each convertible into one equity share, aggregating up to ₹15,825 crore. Record date for dividend eligibility is August 11, 2025 and e-voting runs from August 23 to August 27, 2025.
The headline item is a massive promoter-driven capital infusion of up to ~₹15,825 crore via convertible warrants, which signals strong promoter commitment and would significantly expand the equity base if fully converted. Existing shareholders may see dilution, though the conversion is at the promoters' discretion over 18 months. The dividend of ₹0.50 per share is modest, suggesting the company is retaining earnings to fund growth.