Jio, Allianz Pump Rs 640 Crore Into Insurance JV; NCC Wins Orders
Jio Financial Services and Allianz Europe B.V. have each invested Rs 320.05 crore in their 50:50 joint venture, Jio Allianz General Insurance, through a rights issue.
Both partners subscribed to 32,00,50,000 equity shares of Rs 10 each. The JV will use the Rs 640.10 crore raised to fund its business operations, Jio Financial said in a regulatory filing on September 30.
With this infusion, Jio Financial's aggregate investment in the joint venture has risen to Rs 375 crore. The company said the transaction was done on an arm's length basis.
Separately, infrastructure company NCC bagged two fresh orders worth Rs 500.22 crore in September 2026. Of this, Rs 224.74 crore is for its Buildings Division and Rs 275.48 crore for its Transportation Division.
The twin developments add to a busy week of corporate announcements as companies report fresh capital moves and order wins ahead of the festive quarter.
Shares of Jio Financial Services closed at Rs 216.60 on the BSE on September 30, down 0.60 percent. Market watchers will track how the fresh capital helps the joint venture scale its general insurance business in a competitive market.
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