Jio Financial Services announced on Sunday that it and BlackRock Advisors Singapore Pte Ltd had established a joint venture to conduct investment advising services.
According to a filing from Jio Financial Services, Jio BlackRock Investment Advisers Private Limited was established on September 6 with the primary objective of providing investment advice services, pending regulatory clearances.
According to the statement, the company will contribute Rs 3 crore towards the first offering of 3,000,000 equity shares with a face value of Rs 10 per.
It further stated that on September 7, 2024, the Ministry of Corporate Affairs sent the Certificate of Incorporation.
The demerged financial services division of Reliance, owned by billionaire Mukesh Ambani, Jio Financial Services Ltd., has previously established a joint venture with BlackRock for asset and wealth management.
Home loans have been rolled out in beta mode, and Jio Finance Ltd., an NBFC division of Jio Financial Services, announced last month that it is in the advanced stages of offering them.
In addition, the business plans to introduce more products such loans secured by real estate and loans secured by stocks.
Jio Financial, BlackRock Advisors enter JV for investment advisory services | Company News
