 "Jio Financial JV enters stock broking biz; broking stocks fall up to 6%")
Jio enters broking business: Jio BlackRock Investment Advisers, a joint venture company between Jio Financial Services and BlackRock, entered the stock broking business, Jio Financial Services said on Tuesday.
In a stock exchange filing, Jio Financial Services said, “Jio BlackRock Investment Advisers Private Limited, a Joint Venture company of the Company, has incorporated a wholly-owned subsidiary named ‘Jio BlackRock Broking Private Limited’ on January 20, 2025 to carry on the business of broking subject to regulatory approvals”.
According to reports, Jio BlackRock Investment Advisers Private Limited was incorporated on September 6 to carry on the primary business of investment advisory services. The company will invest Rs 3 crore towards an initial subscription of 30,00,000 equity shares of face value Rs 10 each.
On the bourses, Jio Financial Services share price fell 2.6 per cent intraday to hit a low of Rs 268.5 per share amid an overall weak sentiment in the market. By comparison, the BSE Sensex was down 756 points, or 1 per cent, at the time of writing this report.
Shares of other stock brokers, meanwhile, were down as well. Motilal Oswal Financial Services share price was down 6.5 per cent, Geojit Financial Services 3.35 per cent, Angel One 3.2 per cent, Emkay Global Financial Services 2.3 per cent, ICICI Securities 2.25 per cent, 5Paisa Capital 2 per cent, and Swastika Investmart 1.7 per cent.
Jio Financial’s foray into the stock broking business comes soon after its decision to ente the mutual fund business as well.
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Last month, Jio BlackRock Asset Management Company had appointed George Heber Joseph as the the first chief investment officer (CIO) of the newly- incorporated joint venture firm.
Notably, the 50:50 joint venture had received the in-principle approval from the Securities and Exchange Board of India (Sebi) to start MF business in October 2024.
On January 20, 2025, Computer Age Management Services (CAMS) informed the stock exchanges that it has been selected as the Registrar and Transfer Agent (RTA) of proposed Jio BlackRock Mutual Fund, subject to approvals as required under Sebi Regulations and the Board of Jio BlackRock Asset management Private Limited, Jio BlackRock Trustee Private Limited.
CAMS is a digital services provider, having digital interfaces and APls for all facets of asset management operations covering transaction processing, risk management, analytics, business continuity, security, investor services and intermediary services.
The company's automation leveraging emerging technologies have supported the industry's massive drive to attract and grow retail investor participation in Mutual funds.
Jio Financial Services Q3 results 2025
On January 17, 2025, Jio Financial Services reported its results for the December quarter.
It said the non-bank finance company’s (NBFC’s) assets under management (AUM) stood at Rs 4,199 crore compared to Rs 1,206 crore seen in Q2FY25.
Its consolidated profit after tax was Rs 295 crore, down from Rs 689 crore seen in Q2FY25, and flat from Q3FY24.