• Source:JND
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Reliance News: Jio Financial Services Ltd (JFSL) on Tuesday said the company and its joint venture partner US-based BlackRock Mutual Fund have invested Rs 117 crore in the company.

JFSL and BlackRock have purchased 5.85 crore equity shares of Rs 10 per share value in Jio BlackRock Asset Management Private Limited (a 50:50 joint venture between the company and BlackRock) and have been allotted 5.85 crore equity shares of Rs 117 crore valued at Rs 10 per share, the company said in a regulatory filing.

Jio BlackRock Asset Management Private Limited has submitted an application to SEBI for approval. JFSL and BlackRock have made an initial investment of Rs 82.5 crore in the company.

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Jio BlackRock Investment Advisors Private Limited, a joint venture company, announced the formation of a wholly-owned subsidiary, 'Jio BlackRock Broking Private Limited' on January 20, 2025.

Jio Financial Services Limited's consolidated profit in the third quarter remained stable at Rs 295 crore compared to Rs 294 crore in the same quarter last fiscal.

Total revenue increased to Rs 449 crore from Rs 414 crore last fiscal quarter. Total expenses increased to Rs 131 crore as compared to Rs 99 crore in the same quarter last year.

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(With Inputs From PTI)