Jio and BlackRock Joint Venture Boosts Mutual Fund Investments

Jio Financial Services Ltd and BlackRock have each invested Rs 117 crore in their mutual fund company venture. Both parties subscribed to 5.85 crore equity shares of the newly formed Jio BlackRock Asset Management Private Ltd. This significant financial infusion seeks regulatory approval from SEBI.

On Tuesday, Jio Financial Services Ltd (JFSL) and BlackRock made a substantial move by investing Rs 117 crore in their mutual fund entity. This initiative involves subscribing to 5.85 crore equity shares, each valued at Rs 10, under the recently formed Jio BlackRock Asset Management Private Limited, evenly split between the partners.

The company has already made strides by submitting an application to the Securities and Exchange Board of India (SEBI) seeking necessary regulatory approvals for their actions. Jio BlackRock Asset Management, as part of its joint venture efforts, aims to establish a robust presence in the mutual fund landscape across the region.

Additionally, Jio BlackRock Investment Advisers Pvt Ltd, another joint venture arm, has founded Jio BlackRock Broking Private Limited, a wholly-owned subsidiary. This entity, incorporated on January 20, 2025, is set to advance into the broking business once regulatory approvals are in place.

(With inputs from agencies.)