Jio Financial and BlackRock Invest ₹117 Crore in Mutual Fund Expansion

Jio Financial Services Ltd (JFSL) and its US-based joint venture partner, BlackRock, have invested ₹117 crore in their mutual fund company, Jio BlackRock Asset Management Private Limited. Each partner subscribed to 5.85 crore equity shares at ₹10 each, resulting in the total investment.

SEBI Approval for Mutual Fund Operations

Jio BlackRock Asset Management has submitted an application to SEBI, seeking approval to commence mutual fund operations.

Initial Investments and New Subsidiary Launch

JFSL and BlackRock had earlier invested ₹82.5 crore each in the joint venture. Additionally, Jio BlackRock Investment Advisers Private Limited, a subsidiary of the joint venture, has established a new entity, Jio BlackRock Broking Private Limited, on January 20, 2025. The new subsidiary aims to enter the broking business, which is pending regulatory approvals.

Flat Q3 Profit and Rising Income

During Q3 FY25, JFSL’s consolidated net profit stood at ₹295 crore, marginally up from ₹294 crore in the same quarter last year. Total income rose to ₹449 crore, compared to ₹414 crore in Q3 FY24, while expenses increased to ₹131 crore from ₹99 crore a year ago.

This development highlights JFSL’s strategic expansion into the asset management and broking sectors, paving the way for growth in financial services.

About Jio Financial Services Ltd

Jio Financial Services Ltd is registered with the Reserve Bank of India (RBI) as a Non-Banking Financial Company-Non-Deposit Taking-Systemically Important (NBFC-ND-SI). The company serves as a holding entity for its financial services operations, which are managed through its subsidiaries, including Jio Finance Limited (JFL), Jio Insurance Broking Limited (JIBL), and Jio Payment Solutions Limited (JPSL). It also operates a joint venture, Jio Payments Bank Limited (JPBL).

Jio Financial Services share price is trading at ₹260.80, up by ₹0.70 (0.27%) as of 10:05 AM IST on January 22. The stock opened at ₹261.70 and has so far reached a high of ₹263.60 and a low of ₹257.75 during the session. The company’s market capitalisation stands at ₹1.65 lakh crore, with a P/E ratio of 102.80. It has a 52-week high of ₹394.70 and a 52-week low of ₹237.10.

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