Jio & BlackRock Join Forces to Revolutionize India's Investment Landscape

Jio Financial Services' shares rose nearly 4% after their venture with BlackRock secured regulatory approval from Sebi for mutual fund operations. This approval marks the beginning of Jio BlackRock Asset Management's role as an investment manager, seeking to simplify and democratize investing in India.

Shares of Jio Financial Services Ltd surged almost 4% on Tuesday following Jio BlackRock Asset Management Pvt Ltd obtaining the green light from the Securities and Exchange Board of India (Sebi). This joint venture, equally owned by Jio Financial Services and US-based asset management giant BlackRock, will now operate as an investment manager for mutual funds.

The stock experienced a 3.46% increase, closing at Rs 291.50 on the Bombay Stock Exchange, reaching a peak of 3.99% gain during trading hours. On the National Stock Exchange, the shares jumped by 3.86%, closing at Rs 292.65.

Sebi's certification and approval, dated May 26, 2025, allows 'Jio BlackRock Mutual Fund' to enter the mutual fund market in India. Jio Financial Services previously set up 'Jio BlackRock Asset Management Private Limited' and 'Jio BlackRock Trustee Private Limited' in October 2024, laying the groundwork for this initiative. Speaking on the partnership, Isha Ambani, a non-executive director at JFSL, highlighted the synergy of global investment prowess and Jio's innovation to make investing more accessible in India.

(With inputs from agencies.)