Jio Financial Services invests Rs 40 cr in leasing arm JLSL

Jio Financial Services on Tuesday said it has invested Rs 40 crore in its wholly-owned subsidiary Jio Leasing Services Ltd (JLSL) which has been formed for undertaking leasing of movable assets activity.

The company on Tuesday subscribed to 4,00,00,000 equity shares of Rs 10 each of JLSL for cash at par aggregating Rs 40 crore for its business purposes, Jio Financial Services said in a regulatory filing.

“No governmental or regulatory approvals were required for the above transaction,” it said. The subsidiary will be engaged in the business of leasing of all types of movable assets, it added.