Monday, June 24, 2024

Jio Financial Services to request shareholder approval for foreign investments via equity

Jio Financial Services E-voting Process for Foreign Investments – Company Seeking Member Approval

Jio Financial Services Ltd, a prominent financial services company, is seeking approval from its members for foreign investments totaling up to 49% of the company’s paid-up equity share capital. The approval process is being conducted through a remote electronic voting system.

According to a notification issued by Jio Financial Services, the resolution for the foreign investments will be considered and passed as a special resolution. The electronic voting period will commence on May 24, 2024, and conclude on June 22, 2024. The company has appointed KFin Technologies Limited as the Registrar and Transfer Agent to facilitate the electronic voting process for its members.

In a recent financial update, Jio Financial Services reported a significant increase in its consolidated net profit for the fourth quarter of the fiscal year. The company’s net profit rose by 6% to ₹311 crore, showcasing strong growth in its financial performance.

After its demerger from Reliance Industries, Jio Financial Services has been focusing on expanding its range of services, which include payment gateway services, insurance broking, and investment and financing solutions. The company’s stock price has also shown positive momentum, with analysts predicting a potential uptrend in the near future.

Overall, Jio Financial Services is making strategic moves to enhance its business operations and capitalize on the growing opportunities in the financial services sector. Investors and industry experts are closely watching the company’s developments, anticipating further growth and success in the coming months.

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