Jio Financial Services has announced a significant strategic move, forming a joint venture with BlackRock Advisors Singapore Pte Ltd. The newly established entity, Jio BlackRock Investment Advisers Private Limited, was officially incorporated on September 6, 2024. This joint venture is set to focus on providing investment advisory services, pending regulatory approvals.
The initial investment for this venture includes an infusion of Rs 3 crore for 3,000,000 equity shares, each with a face value of Rs 10. The Certificate of Incorporation for the venture was issued by the Ministry of Corporate Affairs on September 7, 2024.
This development follows Jio Financial Services’ earlier collaboration with BlackRock in the areas of asset and wealth management. The venture signals an expansion of Jio Financial’s footprint in the financial sector.
In related news, Jio Finance Ltd, an arm of Jio Financial Services, is nearing the launch of its home loan offerings, currently in beta testing. The company is also preparing to introduce other financial products, including loans against property and loans on securities.
hii Aditi Sahu this side..
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