Jio Financial Services has invested in Jio BlackRock Investment Advisers Private Limited by subscribing to 9,35,00,000 equity shares at a face value of ₹10 each. The total investment amounts to ₹93.50 crore, funding the business operations of the 50:50 joint venture between Jio and BlackRock. This investment supports the company’s strategic initiatives in the financial sector.
Investment Overview
Jio Financial Services has made a significant investment in Jio BlackRock Investment Advisers Private Limited, a joint venture with BlackRock. The company has subscribed to 9,35,00,000 equity shares.
Details of the Investment
The shares have a face value of ₹10 each, and the total investment amounts to ₹93.50 crore. This substantial investment is designed to provide Jio BlackRock Investment Advisers Private Limited with the necessary capital to effectively fund its diverse business operations and support its strategic growth initiatives.
Purpose of the Investment
This investment will be instrumental in funding the business operations of the 50:50 joint venture. The infusion of capital aims to bolster the company’s capabilities and enable it to pursue its strategic objectives within the financial services sector.
The investment, completed by Jio Financial Services, is considered a related party transaction but conducted on an arm’s length basis.
Source: BSE
