 "Jio Financial Services")
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Jio Financial Services Ltd (JFSL) on Tuesday said its subsidiary has received capital market regulator Sebi's approval for mutual fund operation.
The Securities and Exchange Board of India (Sebi), vide letter dated May 26, 2025, has granted certificate of registration to 'Jio BlackRock Mutual Fund' and approval to Jio BlackRock Asset Management Private Limited to act as the Asset Management Company for Jio BlackRock Mutual Fund, JFSL said in a regulatory filing.
The company, on October 29, 2024, intimating incorporation of two companies, 'Jio BlackRock Asset Management Private Limited' and 'Jio BlackRock Trustee Private Limited', to carry on the primary business of mutual fund, subject to regulatory approvals, it said.
In January, JFSL had said that the company and its joint venture partner, US-based BlackRock, have infused Rs 117 crore in the mutual fund company.
JFSL and BlackRock each have further subscribed to and have been allotted 5.85 crore equity shares of Rs 10 each of Jio BlackRock Asset Management Private Limited (a 50:50 Joint Venture between the company and BlackRock), aggregating Rs 117 crore.
JFSL and BlackRock have made an initial investment of Rs 82.5 crore each in this entity.
On October 19, 2023, Jio Financial and BlackRock Financial Management Inc. filed papers with Sebi for launching a mutual fund business.
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