Jio Financial Services Promoters To Acquire 2.2% Stake In Subsidiary

Two Jio Financial Services Ltd. promoters plan to acquire 14 crore shares of the financial company's subsidiary.

Sikka Ports and Terminals Ltd. and Jamnagar Utilities and Power Pvt. will take over 2.2% stake in Reliance Industries Holding Pvt. The acquisition will take place between March 7 and March 31, an exchange filing said Monday.

Sikka Ports and Terminal and Jamnagar Utilities and Power held 0.61% and 0.72% stake in Jio Financial Services, respectively, as of December 2023.

Shares of Jio Financial Services closed 1.71% lower at Rs 322.60 apiece, compared to a 0.09% rise in the benchmark BSE Sensex.