Jio Financial Services Pumps INR 230 Cr In Two JVs

▤ Summary

Jio Financial Services and BlackRock each added capital to their two joint ventures to support operations and expand their presence in wealthtech. Jio Financial Services invested INR 136 crore in Jio BlackRock Asset Management and INR 93.5 crore in Jio BlackRock Investment Advisers through rights issues. The firms are also building out a third broking subsidiary and refining go-to-market plans after earlier regulatory approvals. JioBlackRock Asset Management has already crossed INR 15,980 crore in AUM and launched six new funds in the September quarter. The update also shows Jio Financial Services continuing to build a broader full-stack financial services platform across lending, payments, asset management, advisory, and broking.

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