Jio Financial and BlackRock Singapore Form Investment Advisory Joint Venture in India

Mumbai: Jio Financial Services and BlackRock Advisors Singapore have established a joint venture, Jio BlackRock Investment Advisers Private Limited, to provide investment advisory services in India. The company was incorporated on September 6, 2024, as per a filing with the Bombay Stock Exchange (BSE).

The joint venture will focus on delivering investment advisory solutions, subject to regulatory approvals. Jio Financial disclosed an initial investment of ₹3 crore for the subscription of 30 lakh equity shares, each valued at ₹10.

Jio Financial, the non-banking financial services arm of Reliance Industries, confirmed the receipt of a Certificate of Incorporation from the Ministry of Corporate Affairs on September 7, 2024. Despite the announcement, Jio Financial’s shares closed 2.45% lower at ₹336.90 on Friday, down from ₹345.35 the previous day.

This partnership marks a significant step for both companies in expanding their presence in India’s growing investment advisory market.

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