| Market Cap | ₹1,36,685 CrLarge Cap |
|---|---|
| P/E TTM | 79.84xSector 19.05x |
| Promoter Stake | 50.98%Post-allotment |
| Deal value | ₹7,912.5 Cr |
| Share of market cap | 5.8% |
| Share of annual revenue | 140.7% |
Key highlights
- Allotment of 25 crore equity shares of face value ₹10 at a premium of ₹306.50 per share
- Total capital raised through this warrant conversion amounts to ₹7,912.50 crore
- Promoter and promoter group shareholding increased from 49.13% to 50.98% post-allotment
- The transaction represents 5.8% of the company's current market capitalization of ₹136,685 crore
- Final allotment follows an earlier conversion of 25 crore warrants completed in April 2026
Equity Allotment Details and Capital Increase
The Stakeholders’ Relationship Committee of Jio Financial Services met on October 30, 2026, to finalize the allotment of 12,50,00,000 equity shares each to Sikka Ports & Terminals Limited and Jamnagar Utilities & Power Private Limited. These shares were issued at a price of ₹316.50 per share, which includes the face value of ₹10 and a premium of ₹306.50. This transaction marks the conversion of the balance warrants originally allotted on a preferential basis in September 2025.
The company's paid-up equity share capital has consequently increased from ₹6,603.14 crore to ₹6,853.14 crore, providing additional liquidity to support its diverse financial services operations.
Strategic Context and Joint Venture Progress
This capital raise comes as Jio Financial Services executes multiple large-scale expansion plans. In August 2026, the firm signed a definitive agreement with Bank of America's NB Holdings Corporation for an investment of up to ₹18,268.22 crore in Jio Credit Limited. Parallelly, the JioBlackRock Mutual Fund joint venture reported a closing AUM of ₹22,746 crore as of September 30, 2026, following its commencement in early 2025.
Furthermore, the company recently reinforced its insurance presence by subscribing to a ₹320.05 crore rights issue in Jio Allianz General Insurance Limited, following the establishment of a 50:50 joint venture with Allianz in April 2026.
Market Performance and Ownership Shift
- Sikka Ports & Terminals Limited has increased its individual holding from 2.93% to 4.65%
- Jamnagar Utilities & Power Private Limited now holds 5.52% compared to 3.84% pre-allotment
- Overall promoter group holding has crossed the majority threshold to reach 50.98%
- The company reported an operating profit margin of 66.04% for the quarter ended September 2026
- Net profit for the latest quarter stood at ₹340.44 crore, a 51.02% decrease year-on-year
- The stock currently trades at a P/B value of 1.01 against an industry P/E of 25.92
| Date | Announcement | Amount |
|---|---|---|
| 15 Oct 2026 | Unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026Source: BSE filing | – |
| 30 Sep 2026 | Subscription to rights issue of shares in Jio Allianz General Insurance Limited joint ventureSource: sahi.com | ₹320.05 Cr |
| 12 Aug 2026 | Definitive agreement for investment by NB Holdings Corporation (Bank of America) for up to 49.9% stake in Jio Credit LimitedSource: prnewswire.com | ₹18,268.22 Cr |
| 23 Apr 2026 | Agreement with Allianz to establish a 50:50 general and health insurance joint venture in IndiaSource: news.ambest.com | – |
| 18 Jun 2025 | Acquisition of 14.96% equity stake in Jio Payments Bank Limited from State Bank of IndiaSource: jfs.in | ₹104.54 Cr |
| 26 May 2025 | Receipt of SEBI registration certificate and final approval for JioBlackRock Mutual Fund to commence operationsSource: groww.in | – |
What to watch next
- CCI and statutory approval for the ₹18,268.22 crore stake sale in Jio Credit Limited
- Operational milestones for the Jio Allianz health insurance joint venture in late 2026
- Third-quarter financial results expected in January 2027
| Share price | ₹207 |
|---|---|
| Market capitalisation | ₹1.37L Cr |
| Revenue (annual) | ₹3,513.26 Cr |
| Net profit (annual) | ₹1,560.90 Cr |
| Revenue (latest quarter) | ₹1,699.28 Cr-15.23% vs previous quarter |
| Net profit (latest quarter) | ₹340.44 Cr-59.00% vs previous quarter |
| P/E (TTM) | 79.84×Sector 19.05× |
| Promoter holding | 49.13%0.00% QoQ |
| FII holding | 10.65%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Jio Financial Services Limited announcing the allotment of 25 crore equity shares upon warrant conversion. Market figures from a third-party data provider.
