Jio Financial Services and Allianz Europe will each invest Rs 320.05 crore in their Indian insurance joint ventures through a rights issue, the companies announced.

Each partner will subscribe to 32,00,50,000 shares at Rs 10 apiece. The fresh capital will fund the expansion of the general and life insurance businesses in India.

The Jio-Allianz partnership combines Reliance’s digital distribution reach with the German insurer’s global expertise. The ventures aim to tap India’s underpenetrated insurance market.

Separately, infrastructure major NCC won two new orders worth Rs 500.22 crore. The buildings division secured a Rs 224.74 crore order, while the transportation division won Rs 275.48 crore of work.

NCC’s order book continues to grow on the back of strong government infrastructure spending. The company’s shares have been in focus as investors track its project wins. Both announcements came in exchange filings on October 1, reflecting a busy day for corporate India. The partners said the capital infusion will support product development and branch expansion across metro and tier-two cities.