Jio Financial Services said it has subscribed to and been allotted 3,35,71,923 equity shares (₹10 each) of its wholly owned NBFC subsidiary, Jio Credit Limited (JCL), for cash at a premium of ₹585.70 per share, totaling ₹1,999.88 crore. The funds will be used by JCL to support its business operations. The company added that the investment is a related-party transaction conducted at arm’s length, with no interest from the promoter/promoter group or other group companies, and no regulatory approvals required.