BlackRock and Jio Financial Services invest Rs 117 crore in the mutual fund industry Theindiaprint  |  22/01/2025 13:27:10

Reliance News: On Tuesday, Jio Financial Services Ltd. (JFSL) said that it has invested Rs 117 crore in the business with its joint venture partner, BlackRock Mutual Fund, located in the United States.

Jio Finacial 1737517159444 1

The company stated in a regulatory filing that JFSL and BlackRock had acquired 5.85 crore equity shares of Rs 10 per share in Jio BlackRock Asset Management Private Limited, a 50:50 joint venture between the two companies, and had been granted 5.85 crore equity shares of Rs 117 crore valued at Rs 10 per share.

For clearance, Jio BlackRock Asset Management Private Limited has applied to SEBI. The business has received an initial investment of Rs 82.5 crore from JFSL and BlackRock.

On 20 January 2025, the joint venture business Jio BlackRock Investment Advisors Private Limited announced the establishment of a wholly owned subsidiary, ‘Jio BlackRock Broking Private Limited.’.

In comparison to the same period in the previous fiscal year, when it was Rs 294 crore, Jio Financial Services Limited’s consolidated earnings in the third quarter were steady at Rs 295 crore.

From Rs 414 crore in the previous fiscal quarter, total income rose to Rs 449 crore. Compared to Rs 99 crore in the same quarter the previous year, total costs rose to Rs 131 crore.

Read more
Jamie Oliver's easy recipe for blueberry muffins that come out 'perfect every time'
Newspoint
Ex-EastEnders star Ben Hardy spotted kissing Utopia actress at Hyde Park gig
Newspoint
6 Natural Home Remedies To Treat Darkness Around The Mouth
Newspoint
Health Tips: Do not eat spicy food every day, health can affect health. Spicy Food Effect on Your Health Know the Symptoms
Tezzbuzz
Tooth Cavity: Protect teeth from cavity in 6 ways, will be healthy and strong at the age of 70
Tezzbuzz
These home remedies are effective to get rid of period pain
Tezzbuzz
Know when, why and whose recitation should be done to get the blessings of Hanuman ji
Tezzbuzz
You will be surprised to know the benefits of drinking one spoon of ghee on an empty stomach in the morning
Tezzbuzz
How much is MS Dhoni’s net worth? Know here the means of earning Captain Cool’s earnings. Read
Tezzbuzz
A Bihari is too much for the British, Akash Deep is the first one to take 10 wickets in England…
Tezzbuzz