Jio Financial and BlackRock invest ₹66.5 crore in joint venture Jio BlackRock Investment Advisers

Jio Financial Services Limited on Thursday (April 3) said the company and BlackRock have each subscribed to 6.65 crore equity shares of Jio BlackRock Investment Advisers Private Limited, their 50:50 joint venture, at a face value of ₹10 per share, amounting to a total investment of ₹66.5 crore. The joint venture will use the funds to support its business operations.

With this latest investment, the total capital infused into the venture stands at ₹84.5 crore. The transaction is classified as a related-party transaction conducted on an arm’s length basis. No promoter, promoter group, or other group companies of Jio Financial Services have any interest in the investment. No regulatory or governmental approvals were required for the transaction.

Also Read: Jio Financial Services invests ₹1,000 crore in subsidiary Jio Finance

Jio Financial Services reported a 0.3% year-on-year (YoY) increase in net profit at ₹294.8 crore for the third quarter that ended December 31, 2024. In the corresponding quarter of the previous fiscal, Jio Financial Services posted a net profit of ₹293.8 crore. The company's revenue from operations rose 6% to ₹438.4 crore against ₹413.6 crore in the corresponding period of the preceding fiscal.

Jio Financial Services saw an increase in its assets under management (AUM), rising to ₹4,199 crore, compared to ₹1,206 crore in Q2 FY25. The payments bank also experienced robust growth, with its CASA (Current Account and Savings Account) customer base expanding by 25% quarter-on-quarter to 1.89 million. Additionally, JFSL embedded its payment solutions into JioBharat.

Shares of Jio Financial Services Ltd ended at ₹230.45, up by ₹0.60, or 0.26%, on the BSE.

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