Jio Financial Services and BlackRock Inject ₹66.5 Crore into Jio BlackRock Investment Advisors

On April 3, 2025, both JFSL and BlackRock subscribed to 6.65 crore equity shares each of the joint venture. The shares have a face value of ₹10 per share. The total capital raised in this round stands at ₹66.5 crore, equally contributed by both partners.

Including this latest round, the total cumulative investment in the JV now amounts to ₹84.5 crore. The ownership structure remains unchanged, with both entities holding a 50% stake.

As of 10:07 AM on April 4, 2025, Jio Financial Services share price was trading at ₹224.36, 2.36% down, but down 31.92% over the past six months and 36.16% over the past year.

Purpose of Funds

The capital will be used by the joint venture to support its business operations. No additional breakdown of fund utilization was provided in the disclosure.

Nature of the Transaction

The transaction is classified as a related party transaction. According to JFSL, it was carried out on an arm’s length basis. The company also stated that none of its promoters, promoter group, or other group companies have any interest in the investment. No government or regulatory approvals were required for this investment. The transaction was completed at 1:16 PM on April 3, 2025.

Financial Performance

Jio Financial Services announced a net profit of ₹294.8 crore for the third quarter ending December 31, 2024, representing a 0.3% year-over-year (YoY) increase from ₹293.8 crore. The company’s revenue from operations also saw a 6% YoY rise, reaching ₹438.4 crore compared to ₹413.6 crore.

Jio Financial Services significantly expanded its operations, with assets under management more than tripling to ₹4,199 crore from the previous quarter’s ₹1,206 crore. The company’s payments bank also saw substantial growth, increasing its CASA customer base by 25% to 1.89 million. Furthermore, Jio Financial Services integrated its payment functionalities into the JioBharat platform.

Conclusion

The joint venture has now received a total investment of ₹84.5 crore from its two shareholders. The latest round of ₹66.5 crore was completed without regulatory hurdles and maintains the 50:50 ownership between Jio Financial and BlackRock.

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