Sikka Ports and Jamnagar Utilities Increase Stakes in Jio Financial Services via Warrant Conversion
Sikka Ports & Terminals Limited (SPTL) and Jamnagar Utilities & Power Private Limited (JUPL) have significantly expanded their stake in Jio Financial Services Ltd (JFS). The increase in holding was realized through the allotment of equity shares upon the conversion of warrants, boosting the promoter group’s overall shareholding in the company.On April 21, 2026, the companies benefited from the allotment of 25,00,00,000 equity shares of Jio Financial Services Ltd. Each acquiring entity received 12,50,00,000 shares, which resulted from the conversion of warrants issued on a preferential basis.
Both Sikka Ports & Terminals Limited and Jamnagar Utilities & Power Private Limited are promoter members of Jio Financial Services Ltd. The allotments mark a notable expansion of their participation in the financial services firm.
The transactions resulted in a restructuring of the promoter group's holdings. The combined promoter and promoter group shareholding in JFS increased from 47.12% to 49.13% of the total paid-up equity share capital.
Shareholding Details
The transactions represent a material increase in shareholding for both entities. The following table details the acquisitions and the resulting shareholding percentages:| Parameter | Sikka Ports & Terminals Limited | Jamnagar Utilities & Power Private Limited |
|---|---|---|
| Shares Held Before Acquisition | 6,85,00,000 | 12,84,64,144 |
| Warrants Held | 25,00,00,000 | 25,00,00,000 |
| Shares Acquired/Allotted | 12,50,00,000 | 12,50,00,000 |
| Shares Held After Acquisition | 19,35,00,000 | 25,34,64,144 |
| Acquisition % (w.r.t. diluted capital) | 1.893% | 1.824% |
| Final Shareholding % (w.r.t. diluted capital) | 2.930% | 3.839% |
The total allotted capital for JFS increased to 660,31,41,623 (No. of shares) after the transaction, with the total diluted share/voting capital rising to 685,31,41,623 (No. of shares).
JIOFIN Stock Price Movement
On Wednesday, Jio Financial Services Limited shares edged higher, closing at ₹238.51 after gaining 1.57% for the session. The stock settled after trading on 40.25 million shares, suggesting strong investor participation in the financial sector.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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