Jio Financial Services shares in focus after Rs 117 crore infusion in mutual fund business
Jio Financial Services (JFSL) will remain in focus on Wednesday, January 22, following the announcement that the company and its joint venture partner, US-based BlackRock, have infused Rs 117 crore into their mutual fund business.
Both JFSL and BlackRock have subscribed to 5.85 crore equity shares, each priced at Rs 10, in Jio BlackRock Asset Management Private Limited, a 50:50 joint venture between the two entities. This investment totals Rs 117 crore, as per a regulatory filing.
Jio BlackRock Asset Management Private Ltd submitted an application to SEBI, seeking approval. JFSL and BlackRock have made an initial investment of Rs 82.5 crore each in this entity.
Another subsidiary Jio BlackRock Investment Advisers Private Ltd, a Joint Venture company of the company has informed that it has incorporated a wholly owned subsidiary named 'Jio BlackRock Broking Private Limited' on January 20, 2025, to carry on the business of broking subject to regulatory approvals.
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