Monitoring Agency Report for the quarter ended September 30, 2026: no deviation in preferential issue proceeds
Crisil Ratings' Monitoring Agency Report for the quarter ended September 30, 2026.
By ScoutQuest · · 2 min read
- Warrants Issued
- up to 50 crore warrants at Rs. 316.50 each, aggregating to Rs. 15,825.00 crore
- Proceeds Utilised During Quarter
- Rs. 1,289.75 crore utilised during the quarter
- Proceeds Unutilised
- Rs. 9,607.61 crore still unutilised
Monitoring Agency Report for the quarter ended September 30, 2026
Jio Financial Services Limited has shared the quarterly Monitoring Agency Report issued by Crisil Ratings Limited, covering how the money raised through the preferential issue of convertible warrants is being used.
What the monitoring agency reports
- Deviation from the objects of the issue: No
- Range of deviation: Not applicable
- Whether the means of finance for the disclosed objects has changed: No
- Any major deviation observed over earlier monitoring agency reports: No
- No delay reported during the quarter; the funds are expected to be utilised by March 31, 2028
What was raised
- Up to 50 crore warrants at Rs. 316.50 per warrant, convertible into fully paid-up equity shares, aggregating to Rs. 15,825.00 crore
- 25% of the issue size, i.e. Rs. 3,956.25 crore, was received as subscription amount in the quarter ended September 30, 2025
- Rs. 5,934.38 crore has been received on account of conversion of warrants
- The balance consideration of Rs. 5,934.38 crore will be received as and when warrant holders exercise the conversion option, during the tenure of 18 months from the date of allotment of warrants, i.e. by March 2027
Where the money is going
- Infusion of funds into existing and new subsidiaries/joint ventures: Rs. 11,868.75 crore proposed; Rs. 6,215.19 crore utilised at the end of the quarter; Rs. 5,653.56 crore unutilised
- General corporate purposes: Rs. 3,956.25 crore proposed; Rs. 2.20 crore utilised; Rs. 3,954.05 crore unutilised
- Total: Rs. 15,825.00 crore proposed; Rs. 6,217.39 crore utilised at the end of the quarter; Rs. 9,607.61 crore unutilised
- Utilised during the quarter: Rs. 1,289.75 crore in total, of which Rs. 1,288.00 crore went to subsidiaries/joint ventures and Rs. 1.75 crore to general corporate purposes
Funds infused into group entities during the quarter
- Jio Payment Solutions Limited: Rs. 300.00 crore towards subscription to 3.00 crore Zero Coupon Optionally Fully Convertible Debentures
- Jio Payments Bank Limited: Rs. 284.24 crore towards 2.84 crore Zero Coupon Optionally Fully Convertible Debentures
- Jio Payments Bank Limited: Rs. 343.41 crore towards 3.43 crore Zero Coupon Optionally Fully Convertible Debentures
- Jio Allianz General Insurance Limited: Rs. 50.00 crore towards 5.00 crore equity shares
- Jio Allianz General Insurance Limited: Rs. 310.35 crore towards 31.04 crore equity shares
Where the unutilised money is parked
- Total amount invested: Rs. 3,673.24 crore; market value at the end of the quarter: Rs. 3,775.81 crore; earnings: Rs. 102.57 crore
- Investments include bank fixed deposits, certificates of deposit, commercial paper and mutual funds
A point flagged to investors
The warrants were issued at Rs. 316.50 per share, whereas the market price per share as on October 10, 2026 was Rs. 214.62. The report says that in case the market price continues to remain below the exercise price, it may have an impact on conversion of warrants by warrant holders.
Also from Jio Financial Services
Q2 FY27 call: lending AUM Rs. 37,320 crore, PAT Rs. 340 crore, 3.2 crore app users
22 Oct 2026
Query on Jio Finance; Somil Mehta advised adding more to bring down average cost for long-term holding
16 Oct 2026
Jio Financial Services reported revenue more than doubling and operating profit up 85% year-on-year, but PAT fell 59% sequentially
16 Oct 2026
More numbers
- Issue size of warrants convertible into equity sharesRs. 15,825.00 crore
- Issue price per warrantRs. 316.50 per warrant
- Warrants issuedup to 50 crore warrants
- Market price per share as on October 10, 2026Rs 214.62
- Amount utilised during the quarter (total)1,289.75 (Rs in crore)
- Total unutilised amount at end of quarter9,607.61 (Rs in crore)
- Balance consideration receivable on warrant conversionRs 5,934.38 crore
- Unutilised proceeds deployed3,673.24 (Rs in crore)
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.