Jio Financial Services and BlackRock Secure Sebi's Nod for Mutual Fund Venture
Jio Financial Services Ltd, in partnership with BlackRock, has received approval from SEBI for their mutual fund operations. The new venture, Jio BlackRock Mutual Fund, is a 50:50 joint initiative that has seen an initial infusion of Rs 117 crore. The partnership marks a significant step in expanding JFSL's financial offerings.
- Country:
- India
Jio Financial Services Ltd (JFSL) has announced that its subsidiary has been granted approval by the Securities and Exchange Board of India (SEBI) for mutual fund operations.
SEBI, in a letter dated May 26, 2025, issued a certificate of registration to 'Jio BlackRock Mutual Fund' and accorded approval to Jio BlackRock Asset Management Private Limited to serve as the Asset Management Company for the mutual fund, as conveyed by JFSL in a regulatory filing.
In an update, JFSL disclosed the incorporation of two companies, 'Jio BlackRock Asset Management Private Limited' and 'Jio BlackRock Trustee Private Limited', in October 2024, aimed at pursuing mutual fund business after receiving requisite regulatory consents. In January, JFSL and its partner BlackRock collectively injected Rs 117 crore into the mutual fund company, further committing to equal stakes in the venture.
(With inputs from agencies.)
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