Jio Financial and BlackRock Infuse ₹66.5 Crore into Joint Venture

4 Apr 2025 , 12:36 PM

Jio Financial Services Limited (JFSL) and BlackRock have each subscribed to 6.65 crore equity shares of their 50:50 joint venture, Jio BlackRock Investment Advisers Private Limited. The shares were allotted at a face value of ₹10 each, aggregating a total investment of ₹66.5 crore.

This investment is intended to fund the business operations of the joint venture. With this fresh capital injection, total funding in the venture amount to ₹84.5 crore. The deal is a related-party transaction executed at arm’s-length.

The investment does not involve JFSL’s promoter group or any linked companies. The transaction did not require any regulatory or governmental approvals.

Jio Financial Services’ net profit in Q3 FY25 stood at ₹294.8 crore, a growth of 0.3% YoY, as against ₹293.8 crore in Q3 FY24. Revenue from operations increased 6% YoY to ₹438.4 crore, compared with ₹413.6 crore in the corresponding quarter last year. Assets under management (AUM) surged to ₹4,199 crore, against ₹1,206 crore in Q2 FY25.

The company’s CASA (Current Account and Savings Account) customer base grew 25% q-o-q to 1.89 million customers. It embedded its payment solutions into JioBharat, expanding the digital financial services ecosystem supported by JFSL.