Jio Financial Services Limited (JFS), formerly known as Reliance Strategic Investments Limited, announced the incorporation of a wholly-owned subsidiary, Jio BlackRock Broking Private Limited. This development marks a strategic step forward in Jio’s foray into the financial services sector, focusing on broking activities.
The subsidiary, formed under Jio BlackRock Investment Advisers Private Limited, aims to engage in brokerage and related services, subject to requisite regulatory approvals. This move aligns with Jio’s strategy to expand its financial services portfolio, leveraging its joint venture with BlackRock.
In a regulatory filing dated January 21, 2025, JFS confirmed the establishment of the subsidiary on January 20, 2025. The filing stated:
“Jio BlackRock Investment Advisers Private Limited, a Joint Venture company of the Company, has today at 10:42 a.m. informed that it has incorporated a wholly-owned subsidiary named ‘Jio BlackRock Broking Private Limited.'”
Stock performance update
As of 11:55 a.m. today, shares of Jio Financial Services were trading at ₹270.00, down 2.07% from the previous close of ₹275.70. The stock witnessed an intraday range of ₹269.35 to ₹277.50 and a market cap of ₹1.70 trillion. This slight decline follows the broader market trend as investors weigh in on the company’s latest developments.
