Sikka Ports & Terminals Limited and Jamnagar Utilities & Power Private Limited have jointly announced the acquisition of 250,00,00,000 equity shares in Jio Financial Services Limited. This significant transaction, valued at Rs. 10 per share, occurred on October 30, 2026, following the conversion of warrants issued on a preferential basis. The acquisition has led to an increase in the aggregate shareholding of the promoter and promoter group of Jio Financial Services to 50.98%.
Significant Share Acquisition Announced
Sikka Ports & Terminals Limited (SPTL) and Jamnagar Utilities & Power Private Limited (JUPL), collectively referred to as the Acquirers, have disclosed a substantial acquisition of equity in Jio Financial Services Limited (JFS). This disclosure, made under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, details the allotment of 25,00,00,000 equity shares of JFS. These shares, each with a face value of Rs. 10, were acquired upon the conversion of warrants that were issued on a preferential basis.
Transaction Details and Impact
The acquisition took place on October 30, 2026. Prior to this transaction, the combined holding of SPTL and JUPL in JFS was reported. Following the allotment, their total shareholding in JFS has been updated. Notably, the aggregate shareholding of the promoter and promoter group of JFS, including these Acquirers, has increased from 49.13% to 50.98% of the total paid-up equity share capital of the company. The total equity share capital of JFS post-acquisition stands at 685,31,41,623 shares.
Holding Structure
Before the acquisition, SPTL held 19,35,00,000 shares carrying voting rights, representing 2.930% of the total share capital. JUPL held 25,34,64,144 shares, or 3.839%. Both entities also held warrants convertible into shares, with SPTL holding warrants for 12,50,00,000 shares (1.824%) and JUPL holding warrants for another 12,50,00,000 shares (1.824%).
Following the acquisition, SPTL’s direct shareholding in JFS increased to 31,85,00,000 shares (4.648%), and JUPL’s holding rose to 37,84,64,144 shares (5.522%). The warrants previously held by both entities were converted, effectively increasing their direct shareholding by 12,50,00,000 shares each. After the acquisition, the total shares carrying voting rights held by SPTL are 31,85,00,000 (4.648%), and by JUPL are 37,84,64,144 (5.522%). No encumbered shares or voting rights other than shares are reported by the acquirers.
Source: BSE
