Jio Financial Services Ltd has acquired full ownership of Jio Payments Bank Limited (JPBL) after purchasing over 7.90 crore equity shares from the State Bank of India (SBI) for ₹104.54 crore. The acquisition, approved by the Reserve Bank of India on June 4, 2025, was completed on June 18.
With this deal, JPBL is now a wholly owned subsidiary of Jio Financial Services.
Move Follows Earlier Disclosure
Jio Financial had previously announced in March its intent to acquire SBI’s 17.8% stake in JPBL. The recent transaction officially completes that move, further consolidating Reliance Group’s financial services arm under Mukesh Ambani’s leadership.
Expansion into Mutual Funds with BlackRock
Alongside this acquisition, Jio Financial Services is also expanding into India’s mutual fund sector. Through its 50:50 joint venture with US-based BlackRock, the company has launched Jio BlackRock Asset Management Pvt Ltd.
In May 2025, the Securities and Exchange Board of India (SEBI) granted registration and operational approval for Jio BlackRock Mutual Fund and its asset management company.
Aladdin Platform Debuts in India
Jio BlackRock Mutual Fund recently launched Aladdin, BlackRock’s investment analytics and risk management platform, in India. The platform aims to offer advanced data-driven investment tools to both retail and institutional investors, enhancing access to simplified and globally benchmarked investing.
Stock Performance
Shares of Jio Financial Services closed at ₹288.00 on the BSE, registering a 0.62% decline from the previous day’s close of ₹289.80.
