Jio Financial Services to Raise ₹15,825 Cr, Shares Up 3.5%

Jio Financial Services is getting a boost by raising a lot of money from its parent company.

They will issue warrants, which are like promises to sell shares later, to the companies that already own some shares.

The stock price went up because of this.

The company's profits also increased compared to last year.

These warrants can be turned into shares within 18 months.

If they aren't converted, the money paid for them will be lost.

The price of the share rose by 3.5% as a result.