Jio Financial soars on signing agreement to set up wealth management, broking business with BlackRock

JIO Financial Services Ltd. | Finance - NBFC | BFSI | BSE: 543940 | NSE: JIOFIN

16 Apr 2024 Evaluate

Jio Financial is currently trading at Rs. 364.90, up by 10.50 points or 2.96% from its previous closing of Rs. 354.40 on the BSE.

The scrip opened at Rs. 365.00 and has touched a high and low of Rs. 371.75 and Rs. 363.00 respectively. So far 2894476 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 378.70 on 12-Apr-2024 and a 52 week low of Rs. 204.65 on 23-Oct-2023.

Last one week high and low of the scrip stood at Rs. 378.70 and Rs. 351.00 respectively. The current market cap of the company is Rs. 232625.50 crore.

The promoters holding in the company stood at 47.12%, while Institutions and Non-Institutions held 32.96% and 19.92% respectively.

Jio Financial Services, BlackRock, Inc and BlackRock Advisors Singapore Pte (Blackrock) have signed an agreement to form a 50:50 joint venture between the Company and Blackrock, for the purpose of undertaking wealth business including incorporation of a wealth management company and subsequent incorporation of a brokerage company in India.

This joint venture further strengthens the Company’s relationship with Blackrock, Inc., with whom the Company had announced a 50:50 joint venture on July 26, 2023 to transform India’s asset management industry through a digital-first offering and democratise access to investment solutions for investors in India.

The launch of the wealth management and broking business is subject to regulatory and statutory approvals.

Jio Financial Services (JFSL) operates its financial services business through its consumer facing subsidiaries namely Jio Finance (JFL), Jio Insurance Broking (JIBL) and Jio Payment Solutions (JPSL) and joint venture namely Jio Payments Bank (JPBL).

JIO Financial Serv. Share Price

249.30 -1.75 (-0.70%)

08-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
Bajaj Finance	955.05
Shriram Finance	1007.95
Aditya Birla Capital	363.05
Chola Invest & Fin.	1676.05
Tata Capital	321.70
View more..

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