Shares of Jio Financial Services Limited (JFSL) surged 3.69% to ₹214.00 in Tuesday’s session after the company announced the acquisition of the remaining stake in Jio Payments Bank Limited (JPBL), making it a wholly owned subsidiary.
Acquisition details:
In a board meeting held on March 4, 2025, JFSL approved the purchase of 7,90,80,000 equity shares of JPBL from the State Bank of India (SBI) for ₹104.54 crore. This move increases JFSL’s stake from 82.17% to 100%. The acquisition is subject to regulatory approval from the Reserve Bank of India (RBI) and is expected to be completed within 45 days of receiving clearances.
Strategic expansion in digital banking:
JFSL clarified that this transaction is not a related-party deal, and no promoter or group entities have any financial interest in it. By fully acquiring JPBL, JFSL aims to strengthen its position in the digital banking and payments sector, leveraging JPBL’s existing infrastructure to expand its financial services portfolio.
Stock performance:
- Current price: ₹214.00 (+3.69%)
- Previous close: ₹206.38
- Day’s range: ₹207.00 – ₹213.87
- Market cap: ₹1.36 lakh crore
- 52-week range: ₹198.65 – ₹394.70
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