India, Feb. 26 -- In a bid to further bolster its presence in the rapidly evolving Indian fintech ecosystem, Jio Financial Services (JFS) has now pumped an investment of Rs.1,999.88 Cr in its non-banking financial company (NBFC) arm Jio Credit.

In a regulatory filing, the company said it has been allotted 3.36 Cr equity shares of Jio Credit at a face value of Rs.10 and a premium of Rs.585.70 per share. The NBFC arm will use the funds to support its business operations. Jio Credit was formerly known as Jio Finance Ltd.

The company said the investment is a related party transaction but has been carried out on an arm's length basis.

JFS appears to be stepping up its focus on the credit business as part of its wider plan to build a full-st...