Jio Leasing Services Limited (JLSL) invests Rs 67.50 crore in Reliance International Leasing IFSC Limited, a 50:50 joint venture. The investment is to fund RILIL's business operations.
Photograph: Anushree Fadnavis/Reuters
New Delhi, Aug 27 (PTI) Jio Leasing Services Limited (JLSL), a wholly-owned subsidiary of Jio Financial Services, on Tuesday said it has invested Rs 67.50 crore in Reliance International Leasing IFSC Limited.
It has invested 6,75,00,000, 8.1 per cent cumulative optionally convertible preference shares of Rs 10 each of Reliance International Leasing IFSC Limited (RILIL) (a 50:50 joint venture between JLSL and Reliance Strategic Business Ventures Ltd (a wholly-owned subsidiary of Reliance Industries Limited), for cash at par, aggregating Rs 67.50 crore, Jio Financial Services said in a regulatory filing.
The investment is made to fund the business operations of RILIL, it said.
The investment is a related party transaction and is on an arm's length basis, it added.
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