Ambani family's stake likely to top 51% in Jio Financial Services

Board likely to discuss ₹10,000 cr fundraise proposal today

The Mukesh Ambani family is expected to invest a significant portion in Jio Financial Services Ltd's capital raise of up to ₹10,000 crore. The company’s board will meet on Wednesday to evaluate a range of fundraising options, including a rights issue, preferential allotment, qualified institutional placement, or a combination thereof, according to people familiar with the matter.

 

The promoters — the billionaire Ambani family — are likely to increase their stake from the current 47 per cent to more than 51 per cent, they said.

 

The new shares are expected to be priced between ₹320 and ₹325 each, subject to