Jio Financial Services (JFSL) will be in the spotlight on Wednesday, January 22, following the revelation that the company and its joint venture partner, US-based BlackRock, had invested Rs 117 crore in their mutual fund business.
Jio BlackRock Asset Management Private Limited is a 50:50 joint venture in which JFSL and BlackRock have each subscribed for 5.85 crore equity shares at a price of Rs 10. A regulatory document states that the entire investment is Rs 117 crore.
Jio BlackRock Asset Management Private Ltd applied for clearance from SEBI. An initial investment of Rs 82.5 crore was made in this company by JFSL and BlackRock.
A wholly owned subsidiary called "Jio BlackRock Broking Private Limited" was founded on January 20, 2025, by another subsidiary, Jio BlackRock Investment Advisers Private Ltd, a joint venture company, to conduct the broking activity, subject to regulatory clearances.
Jio Financial Services' Q3 earnings
For the quarter that concluded on December 31, 2024, Jio Financial Services reported a total net profit of Rs 295 crore, which was unchanged from Rs 294 crore during the same period the year before.
In Q3FY25, the Mukesh Ambani-backed company recorded total revenue of Rs 438 crore, a 6% increase over the previous year's Rs 414 crore.
The assets under management (AUM) climbed from Rs 1,206 crore in Q2FY25 to Rs 4,199 crore by December 31, 2024.
Jio Finance shares performance
While the benchmark Sensex fell 1.6% on Tuesday, Jio Finance's shares ended the day at Rs 260.1, down 5.7% on the BSE. In the last 12 months, the stock has increased by 6%, but it has dropped by 23% in the last six months. The market value of the company is Rs 1,65,276 crore.
