Jio Financial shares rise after warrant conversion completion

Jio Financial Services shares rose nearly 4% on Monday after completing the conversion of warrants into equity shares for two promoter-group entities.

The company allotted 12.5 crore equity shares each to Sikka Ports & Terminals and Jamnagar Utilities & Power at ₹316.50 per share.

The transaction increased the combined shareholding of promoters and promoter-group entities to 50.98% from 49.13%.