Jio Finance share price jumped 3% on Thursday, June 26, reaching a six-month high of ₹312 per share. The rally marked the stock’s third consecutive session of gains, aligning with the overall bullish trend in the Indian stock market.
The upward momentum followed Jio Financial Services Ltd (JFSL)’s announcement of a ₹190 crore capital infusion into its payments banking arm, Jio Payments Bank Ltd. As per the company’s regulatory filing, JFSL was allotted 19 crore equity shares of ₹10 each, with the entire investment made in cash at face value.
The transaction, while classified as a related-party deal due to the subsidiary relationship, was conducted on an arm’s-length basis. JFSL clarified that neither the promoters nor any related entities were involved in the transaction.
Strengthening Control Over Payments Banking
This latest infusion follows JFSL’s acquisition last week of the remaining 17.8% stake in Jio Payments Bank from the State Bank of India (SBI). The deal, worth ₹104.54 crore for 7.91 crore shares, made Jio Payments Bank a wholly owned subsidiary of JFSL, further consolidating the company’s financial ecosystem.
Jio Finance Share Price Performance
The Jio Finance share price has rebounded impressively—rising over 55% from its April lows to current levels around ₹310–₹312 per share. The stock has shown resilience and growing investor interest since its listing.
Jio Financial Services, earlier known as Reliance Strategic Investments Ltd, was demerged from Reliance Industries and made its stock market debut on August 21, 2023. It was listed at ₹265 on the BSE and ₹262 on the NSE, slightly higher than its discovered price of ₹261.85.
Business Expansion and SEBI Approvals
Operating as a non-deposit-taking, non-banking financial company (NBFC), JFSL focuses on retail lending, merchant lending, digital payments, insurance broking, and payments bank services.
In late May, its joint venture—Jio BlackRock Mutual Fund—received SEBI’s approval to start operations as an investment manager. Further, on June 11, JFSL notified stock exchanges that Jio BlackRock Investment Advisers Pvt Ltd (JBIAPL) had also secured SEBI’s nod to function as an investment adviser, strengthening its position in the asset management space.
In Summary:
The latest rally in Jio Finance share price reflects investor confidence following strategic moves like capital infusion and consolidation of Jio Payments Bank. With SEBI approvals backing its mutual fund and advisory ventures, JFSL is gaining momentum as a diversified financial powerhouse in India’s NBFC sector.