 "Jio Leasing invests ₹45 crore in Reliance International Leasing IFSC unit")
Jio Financial Services Ltd (JSFL) on Friday said its subsidiary Jio Leasing Services Ltd has invested Rs 45 crore in Reliance International Leasing IFSC Pvt Ltd through a rights issue.
Jio Leasing Services Ltd (JLSL) has subscribed to and has been allotted 4,50,00,000 or 8.1 per cent Cumulative Optionally Convertible Preference Shares (OCPS) of Rs 10 each of Reliance International Leasing IFSC Pvt Ltd, JSFL said in a regulatory filing.
Reliance International Leasing IFSC Pvt Ltd is a 50:50 joint venture between JLSL and Reliance Strategic Business Ventures Ltd, a wholly owned subsidiary of Reliance Industries Limited.
JLSL subscribed to the rights issue aggregating Rs 45 crore, it said.
The aggregate investment made by JLSL in Reliance International Leasing IFSC Pvt Ltd till date is Rs 166.55 crore, it said.
The investment is made to fund RILIPL's business operations, it said.
The investment is a related-party transaction of JLSL and is on an arm's-length basis, it said.
The regulatory filing further said that none of the company's promoters, promoter group and other group companies have any interest in the above investment.
No governmental or regulatory approvals were required for the above investment, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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