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- Jio Financial Shares Rise 4% After Jioblackrock Broking Gets Sebi’s approval to launch brokege business
Mumbai3 hours ago
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In July 2023, the 50:50 joint venture was announced by Jio Financial and America based Blackrock.
The stock of Jio Financial Services Limited saw a rise of nearly 4% today. Actually, the Security Exchange Board of India i.e. SEBI has approved the Jio Blackrock Broking to work as a stockbroker. After this approval of SEBI, the shares of Jio Financial gained a boom.
The stock of Jio Financial Services closed at Rs 324.60 with a gain of 3.87% today. In the last five days, the company’s stock has climbed around 12%. At the same time, there has been a rise of 11% in a month and 6% in six months. At the same time, in the last one year, the company’s stock has fallen by about 9%. The company’s market cap is 2.06 lakh crore rupees.
Jio Blackrock received a registration certificate from SEBI
Jio Financial confirmed in exchange filing that Jio Blackrock Broking Private Limited (JBBPL) has received a registration certificate of date of 25 June 2025 from SEBI. This certificate gives the company permission to work as a stockbroker and a clearing member.
In July 2023, both companies announced a joint venture
In July 2023, the 50:50 joint venture was announced by Jio Financial and America based Blackrock. It aims to enter India’s asset management sector with digital-first model. In January this year, both companies invested Rs 117 crore in mutual fund business under joint venture.
SEBI approved for mutual fund business in May
A month ago, the joint venture of both the Jio Blackrock Asset Management Private Limited i.e. Jio Financial and Blackrock companies got SEBI’s approval to start a mutual fund business in India.
On May 27, SEBI had approved Jio Blackrock to start the operation as an environment manager for its mutual fund business in India. Jio is a joint venture of Blackrock Asset Management Private Limited, Jio Financial Services Limited (JFSL) and Blackrock’s 50:50.
Jio Blackrock appointed Sid as its CEO
Along with this, the Jio Blackrock Asset Management Company has announced the appointment of Sid Swaminathan as its Managing Director and Chief Executive Officer (CEO). Sid Swaminathan has more than 20 years of experience in asset management.
Sid was the chief of the International Index Equity in Blackrock
Earlier, Sid Blackrock was the Chief of the International Index Equity, where he was responsible for the $ 1.25 trillion AUM. SID has also served as the head of fixed income portfolio management for Europe in Blackrock, where he was responsible for the systematic and indexed strategies.
SEBI had earlier given in-primary approval
Earlier, Jio Financial Services and Blackrock’s joint venture was given by the market regulator SEBI for entry into the mutual fund sector in India. Both companies will work as co-sponsors for mutual funds.
Competition will increase in 66 lakh crore MF industry
Entry in Jio’s mutual fund sector is expected to increase competition in mutual funds with assets under management (AUM) more than Rs 66 lakh crore.
Both companies partnered for mutual fund business in July 2023 and applied for license near SEBI in October 2023. Both companies had announced to invest $ 15 million for asset management business in India.
Jio Financial was separated from RIL in July 2023
Reliance’s Financial Services Business separated from its original company Reliance Industries Limited (RIL) in July 2023. After the disorder, the price of Jio Financial Share was fixed at Rs 261.85 under Price Discovery Mechanism. After this, on August 21, the company’s stock was listed at Rs 265 on the Bombay Stock Exchange (BSE).
