Jio Financial Services may raise its foreign investment limit to 49%

Imphal, Updated : 25/08/2024 by Th Ramananda Singh

Jio Financial Services may raise its foreign investment limit to 49%.

Jio Financial Services Ltd has recently received the necessary approval to raise its foreign investment limit to a substantial 49%. This is a significant development for the company, as it currently has foreign investors holding approximately 17.55% of its shares. This increase in the investment cap could potentially attract more foreign capital and enhance the company’s growth prospects.

However, it is noteworthy that in the first quarter of the financial year, which concluded in June, the company reported a decrease in its net profit by 6%. This decline may raise some concerns among stakeholders about the company’s performance. In a bid to diversify its offerings and strengthen its market position, Jio launched several new services in July. These include innovative options such as mutual fund loans and auto insurance, aimed at catering to a broader range of customer needs and preferences.