Jio Financial gets nod to raise foreign investment limit to 49%

Jio Financial Services has received approval from Finance Ministry's Economic Affairs Department to increase its foreign investment limit to 49% of its total equity on a fully diluted basis. Foreign investors currently hold 17.55% stake in Jio Financial Services out of the close to 53% public float of shares. The company's shares have risen over 40% so far in 2024.