Jio Financial Services has officially acquired the remaining 51% stake in Jio Payments Bank from State Bank of India (SBI), making it a wholly owned subsidiary. The company announced that it acquired 7.91 crore equity shares from SBI for a total consideration of Rs 104.54 crore following regulatory approval from the Reserve Bank of India (RBI) on June 4, 2025.
The transaction was completed on June 18, 2025, around 3:27 PM, as per a disclosure made by Jio Financial Services to the stock exchanges. This move is part of Jio Financial’s strategy to consolidate and expand its digital financial services ecosystem.
The acquisition marks a significant step in enhancing Jio Financial’s footprint in the digital banking and fintech space, enabling the company to operate Jio Payments Bank as a fully integrated entity under its financial services portfolio.
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