Jio Financial, Blackrock ink pact for wealth management and broking business

Jio Financial Services Rs XXX, XXX% Jio Financial Services shares traded with sharp gains, a day after the National Stock Exchange (NSE) announced that 45 stocks will be included in the futures and options (F&O) segment. According to experts, following its inclusion into the F&O segment, Jio Financial Services could be included into the frontline Nifty 50 index during the March 2025 rebalancing.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Jio Financial Services announced on April 15 that it has entered into a joint venture with US-based BlackRock for wealth management and broking business in India.

In an exchange filing, the Reliance Group-backed financial entity said it has signed a 50:50 joint venture for the purpose of undertaking wealth business including incorporation of a wealth management company and subsequent incorporation of a brokerage company in India.

Jio Financial Services Ltd, the demerged financial services arm of Mukesh Ambani's Reliance, and BlackRock had announced an agreement in July 2023 to form a 50:50 joint venture with a $150 million investment each to enter the asset management business in India.

"This joint venture further strengthens the Company’s relationship with Blackrock, Inc., with whom the Company had announced a 50:50 joint venture on July 26, 2023 to transform India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India," it said.

The launch is subject to regulatory and statutory approvals.

The entities are also awaiting approval of their mutual funds license with the market regulator, the Securities and Exchange Board of India (SEBI).

Earlier, Rachel Lord, Chair & Head of APAC, BlackRock, said: “India represents an enormously important opportunity. The convergence of rising affluence, favourable demographics, and digital transformation across industries is reshaping the market in incredible ways.

We are very excited to be partnering with JFS to revolutionise India’s asset management industry and transform financial futures. Jio BlackRock will place the combined strength and scale of both of our companies in the hands of millions of investors in India.”

Shares of Jio Financial Services were trading at Rs 354.40 apiece, down 4.82 per cent on Tuesday.

Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.