Jio Financial Services shares rose nearly 4% on Monday, 2 November, after the company completed the conversion of warrants held by two promoter-group entities into equity shares, increasing their combined stake in the company.
The company allotted 12.5 crore equity shares each to Sikka Ports & Terminals Ltd and Jamnagar Utilities & Power Pvt Ltd at ₹316.50 apiece, comprising a face value of ₹10 and a premium of ₹306.50 per share.
The allotment was approved by the board's Stakeholders’ Relationship Committee on 30 October and marks the completion of the warrant conversion process that began in September 2025. Both entities had initially received 25 crore warrants each on a preferential basis, with an earlier tranche of 12.5 crore shares each allotted in April 2026.
Following the latest allotment, Jio Financial Services' paid-up equity capital has increased to ₹6,853.14 crore, comprising 685.31 crore shares.
Sikka Ports & Terminals' holding has risen to 4.65% from 2.93%, while Jamnagar Utilities & Power's stake has increased to 5.52% from 3.84%. Consequently, the combined shareholding of promoters and promoter-group entities has climbed to 50.98% from 49.13%.