Jio Financial buys 7.90 crore JPBL shares from SBI for Rs 104.54 crore

Jio Financial Services announced that it has acquired 7.90 crore equity shares of Jio Payments Bank Ltd (JPBL) from State Bank of India (SBI) for a total consideration of Rs 104.54 crore.

The transaction follows the approval granted by the Reserve Bank of India (RBI) on 7 June 2025, enabling the transfer of shares. JPBL is now a wholly owned subsidiary of Jio Financial Services.

Jio Financial Services (JFSL) is a core investment company (CIC), registered with the Reserve Bank of India. JFSL is a new-age institution, which operates a full-stack financial services business through customer-facing entities, including Jio Finance, Jio Insurance Broking, Jio Payment Solutions, Jio Leasing Services, Jio Finance Platform and Service, and Jio Payments Bank.

The company had reported 1.8% increase in consolidated net profit to Rs 316.11 crore on 18% jump in revenue from operations to Rs 493.24 crore in Q4 FY25 over Q4 FY24.

Shares of Jio Financial Services fell 1.20% to Rs 284.55 on the BSE.

Powered by Capital Market - Live News