Jio Financial shares climb nearly 4% after receiving approval for mutual fund business

New Delhi: Shares of Jio Financial Services Ltd jumped nearly 4 per cent on Tuesday after Jio BlackRock Asset Management Pvt Ltd, a 50:50 joint venture between JFSL and US-based BlackRock, received regulatory approval from Sebi to commence operations as an investment manager for its mutual fund business.

The stock climbed 3.46 per cent to settle at Rs 291.50 apiece on the BSE. During the day, it jumped 3.99 per cent to Rs 293.

On the NSE, it went up by 3.86 per cent to Rs 292.65.

The Securities and Exchange Board of India (Sebi), vide letter dated May 26, 2025, has granted the certificate of registration to 'Jio BlackRock Mutual Fund' and approval to Jio BlackRock Asset Management Private Limited to act as the Asset Management Company for Jio BlackRock Mutual Fund, JFSL said in a regulatory filing.

The company, on October 29, 2024, announced incorporation of two companies, 'Jio BlackRock Asset Management Private Limited' and 'Jio BlackRock Trustee Private Limited', to carry on the primary business of mutual fund, subject to regulatory approvals, it said.

In a statement, JFSL non-executive director Isha Ambani said, "Our partnership with BlackRock is a powerful combination of global investment expertise and Jio's digital-first innovation."

Together, she said, "We are committed to making investing simple, accessible, and inclusive for every Indian. I am confident that JioBlackRock Asset Management will play a transformative role in shaping the future of financial empowerment in India."