Jio Financial Services shares in focus after Rs 117 crore infusion in mutual fund business

January 23,2025

Jio Financial Services (JFSL) will remain in focus on Wednesday, January 22, following the announcement that the company and its joint venture partner, US-based BlackRock, have infused Rs 117 crore into their mutual fund business.

Both JFSL and BlackRock have subscribed to 5.85 crore equity shares, each priced at Rs 10, in Jio BlackRock Asset Management Private Limited, a 50:50 joint venture between the two entities. This investment totals Rs 117 crore, as per a regulatory filing.

Jio BlackRock Asset Management Private Ltd submitted an application to SEBI, seeking approval. JFSL and BlackRock have made an initial investment of Rs 82.5 crore each in this entity.

Another subsidiary Jio BlackRock Investment Advisers Private Ltd, a Joint Venture company of the company has informed that it has incorporated a wholly owned subsidiary named 'Jio BlackRock Broking Private Limited' on January 20, 2025, to carry on the business of broking subject to regulatory approvals.

Jio Financial Services Q3 earnings

Jio Financial Services reported a consolidated net profit of Rs 295 crore for the quarter ended December 31, 2024, which was flat compared to Rs 294 crore posted in the year-ago period.

The Mukesh Ambani-promoted company reported total revenue of Rs 438 crore in Q3FY25, marking a 6% increase from Rs 414 crore posted in the corresponding quarter of the previous financial year.

The assets under management (AUM) stood at Rs 4,199 crore as of December 31, 2024, compared to Rs 1,206 crore in Q2FY25.

Jio Finance shares performance

On Tuesday, Jio Finance shares closed at Rs 260.1, down 5.7% on the BSE, while the benchmark Sensex declined 1.6%. The stock has declined 23% over the past six months but gained 6% in the last 12 months. The company’s market capitalization stands at Rs 1,65,276 crore.