India, March 27 -- Fintech major Jio Financial Services (JFS) has infused INR 1,000.24 Cr (about $117 Mn) in its NBFC arm Jio Finance Limited (JFL) to further expand its offerings.

In an exchange filing, JFS said that it subscribed to and has been allotted 1.73 Cr equity shares worth INR 10 each of its wholly owned subsidiary JFL today. The funds will be used by the subsidiary to "finance its business operations".

Incorporated by Reliance in 2000, JFL was rechristened from its erstwhile name Reliance Retail Ventures Limited back in August 2023.

The NBFC provides home loans, home loan balance transfer, loans against mutual funds, among others, to its customers.

In its investor presentation for Q3 FY25, JFS said that the NBFC's assets u...