Big Move by Mukesh Ambani, acquires SBI’s entire stake in…, buys it for Rs…
One of the world’s richest men, Mukesh Ambani’s company Jio Financial Services, in an exchange filing on Wednesday, informed that it has acquired more than 7.90 crore equity shares of JPBL from SBI after the Reserve Bank of India’s approval on June 4. The shares were worth Rs 104.54 crore. Following the mega acquisition, JPBL has become a wholly owned subsidiary of Jio Financial Services.
“The Company has today at around 3.27 p.m acquired 7,90,80,000 equity shares of Jio Payments Bank Limited (“JPBL”) from State Bank of India for an aggregate consideration of Rs. 104.54 crore under the approval received from the Reserve Bank of India on June 4, 2025. Consequent to this acquisition, JPBL has become a wholly owned subsidiary of the Company,” Jio Financial Services said in the regulatory filing.
Notably, Jio Financial had revealed its intentions to acquire 17.8 percent stake of SEBI in Jio Payments Bank in March this year.
Jio Financial Services, in collaboration with its joint venture partner BlackRock, has introduced a range of new mutual fund schemes through their jointly owned company, Jio BlackRock Asset Management Pvt Ltd.
Clearing its path to enter the growing Indian mutual fund market, Reliance Group’s Jio Financial Services has partnered with BlackRock to launch Jio BlackRock Asset Management
In May, it received Securities and Exchange Board of India’s (SEBI) approval to start the mutual fund business in the country.
On May 26, 2025, the Securities and Exchange Board of India (SEBI) registered Jio BlackRock Mutual Fund and approved Jio BlackRock Asset Management Private Ltd. as its asset management company.
JioBlackRock Asset Management will introduce an investment proposition to the mutual fund investors, as well as to institutional investors in India.
It is planning to launch exciting investment products over the coming months. This also includes those that apply BlackRock’s industry-leading capabilities in data-driven investing.
Jio BlackRock Mutual Fund launched an investment management platform called ”Aladdin’—the company’s unique investment analytics and risk management platform.
Jio BlackRock Mutual Fund announced the India launch of Aladdin, BlackRock’s investment analytics and risk management platform. The company stated this is a first step towards making investing more accessible and affordable in India.
Jio Financial Services shares ended at Rs 288.00, which was 0.62 percent lower from the earlier close of Rs 289.80, on the Bombay Stock Exchange.
News