Jio Credit

Jio Financial Services has reinforced its push into the retail and corporate lending space by injecting Rs. 2,000 crore into its subsidiary, Jio Credit. The capital infusion signals the group’s intent to scale its credit operations, enhance balance-sheet strength and prepare for sustained growth in India’s fast-evolving financial services market.

Jio Credit, the non-banking financial subsidiary of Reliance’s financial arm, has successfully raised Rs. 1,000 crore through its inaugural bond issue. The offering, initially sized at Rs. 500 crore, was expanded via a greenshoe option following overwhelming investor demand, leading to an oversubscription of three times. The bonds, carrying a tenor of nearly three years and a coupon rate of 7.19%, were priced below many comparable issuances in the NBFC sector.