Jio Credit raises ₹1,030 crore through 3-year bonds at 7.08% cut-off

Jio Credit raises ₹1,030 crore via 3-year bonds at 7.08% cut-off yield, trims issue from ₹1,500 crore amid higher-than-expected rates; follows recent bond, CP issuances

Jio Credit, the non-banking finance arm and a wholly-owned subsidiary of Jio Financial Services, on Tuesday raised ₹1,030 crore through bonds maturing in three years at a cut off 7.08 per cent, sources said.

 

The issuance had a base size of ₹1,000 crore with a green shoe option of ₹500 crore. However, the lender did not raise the full amount, as the yields were slightly higher than the level they were comfortable with for the entire offering, sources added.

 

Earlier this month, Jio Credit had raised ₹1,000 crore through maiden bond issuance, selling bonds maturing in two years and 10 months at a cut-off yield of 7.19 per cent. The issue included a base size of ₹500 crore and a greenshoe option of ₹500 crore.

 

The company, in March, completed its maiden commercial paper issuance, raising ₹1,000 crore at a yield of 7.80 per cent by selling commercial papers with a tenure of three months. 

 

Jio Financial Services is a core investment company registered with the Reserve Bank of India. It operates its financial services business through consumer-facing entities, including Jio Credit, Jio Insurance Broking, Jio Payment Solutions, Jio Leasing Services, Jio Finance Platform and Service, and Jio Payments Bank.

 

Jio Credit has an asset under management (AUM) of ₹10,000 crore as of March 2025. It offers home loans, loan against property, loan against mutual funds, and loan against shares. Additionally, it is also into vendor financing, working capital loans, and term loans among other things.