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Jio Financial Services gets nod to acquire balance stake in JPBL
Mar-04-2025

Jio Financial Services (JFSL) has received approval for acquisition of balance 7,90,80,000 equity shares of Jio Payments Bank (JPBL), a joint venture of the company and State Bank of India (SBI), for an aggregate consideration of Rs 104.54 crore. 

The company currently holds 82.17% of the paid-up equity share capital of JPBL. Post this acquisition, JPBL will become a wholly owned subsidiary of the company. The acquisition is subject to approval of Reserve Bank of India (RBI) and is expected to be completed within 45 days post receipt of RBI approval. The Board of Directors of the Company, at its meeting held on March 4, 2025, have approved the same.  

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).


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