Jio Financial and BlackRock form joint venture in India

10 Sep, 2024

Jio Financial and BlackRock form joint venture in India

Jio Financial Services and BlackRock Advisors Singapore have established a joint venture, Jio BlackRock Investment Advisers, on September 6, 2024. This partnership aims to offer investment advisory services, subject to necessary regulatory approvals.

Jio Financial Services will make an initial investment of Rs. 3 crore, acquiring 30,00,000 equity shares at a face value of Rs. 10 each. The Ministry of Corporate Affairs issued the Certificate of Incorporation on September 7, 2024.

This joint venture signifies a strategic collaboration between Jio and BlackRock, focused on enhancing investment opportunities and expanding financial services in India. Through this partnership, both companies seek to leverage their expertise and resources to provide innovative solutions in the growing financial market.