business
Jio Financial, Allianz pump Rs 640 crore into general insurance JV via rights issue
Jio Financial Services and Allianz Europe B.V. have each invested Rs 320.05 crore in Jio Allianz General Insurance through a rights issue, collectively infusing Rs 640.1 crore into their 50:50 joint venture. The insurer will use the funds for business operations, while Jio Financial’s total investment has reached Rs 375 crore.
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