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Mukesh Ambani’s Jio Financial Services Injects Fresh Capital into Joint Venture with BlackRock

Reliance Industries’ non-banking subsidiary, Jio Financial Services, has strengthened its presence in India’s investment advisory sector by infusing fresh capital into its joint venture with BlackRock. The move has seen Jio Financial Services subscribe to and be allotted 6.65 crore shares of Jio BlackRock Investment Advisers Private Limited, with a face value of Rs 10 each. This new investment totals Rs 66.5 crore and brings the total investment in the joint venture to Rs 84.5 crore.

The additional capital will be used to fund the joint venture’s business operations and drive its expansion in the investment advisory market. Jio BlackRock Investment Advisers Private Limited is a 50:50 joint venture between Jio Financial Services and BlackRock, established on September 6, 2023. The joint venture was created to offer investment advisory services, and an initial investment of Rs 3 crore was made in 3 million equity shares of Rs 10 each.

The development comes as Jio Financial Services, which demerged from Reliance Industries in July 2023 and listed on stock exchanges in August 2023, continues to expand its presence in India’s financial sectors. Jio Financial Services shares closed Thursday’s trading session at Rs 230.45 per share, marking a 2% rise over the past week and a 14% increase over the last month. However, the stock has declined by 24% so far in 2025, according to BSE analytics data.

The joint venture with BlackRock is expected to enable Jio Financial Services to expand its footprint in the investment advisory market, which is characterized by growing demand for financial services in India. The move is seen as a strategic bet by Mukesh Ambani, chairman and managing director of Reliance Industries, to strengthen the company’s presence in the financial services sector.

With this fresh capital infusion, Jio Financial Services and BlackRock may expand their presence in India’s investment advisory sector, offering a range of services to individual and institutional investors. The joint venture is well-positioned to capitalize on the growing demand for investment advisory services, driven by increasing financial literacy among Indian investors.

Original Source: https://www.india.com/viral/mukesh-ambanis-big-bet-puts-rs-660000000-in-jio-blackrock-investment-advisers-this-business-deals-in-investment-advisers-stock-of-company-gains-7730347/
Category : Business,Viral,BlackRock,Jio Financial Services,Jio Financial Services shares,Mukesh Ambani,Reliance Industries
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Publish Date: 2025-04-03 21:57:00