Page 10 - Jio Financial Services

Jio Financial-BlackRock JV applies for mutual fund licence with Sebi

The joint venture between Jio Financial Services and BlackRock has applied for a mutual fund licence with the market regulator, and the application is currently under consideration, according to a SEBI update. An update on mutual fund approval status from the Securities and Exchange Board of India (Sebi) as of December 31, 2023, lists Jio Financial Services & BlackRock Financial Management among the applicants under consideration for a mutual fund licence. Jio submitted its application on October 19, and Sebi's status report showed that it is "under process". Jio Financial Services Ltd, the newly demerged financial services arm of billionaire Mukesh Ambani's Reliance, and BlackRock announced an agreement in July 2023 to form a 50:50 joint venture with a USD 150 million investment each to enter the asset management business in India. "Jio BlackRock combines Jio Financial Services' knowledge and resources with BlackRock's scale and investment expertise to deliver affordable, ...

Jio Financial's application for mutual fund licence under process: Sebi

Update by regulator puts to rest speculations that Jio is looking to enter MF space through acquisition

SAT quashes Sebi's Rs 7 lakh fine against RIL's Jio Financial Services

The Securities Appellate Tribunal (SAT) on Wednesday quashed a Sebi order imposing a penalty of Rs 7 lakh on Jio Financial Services Ltd in case of alleged manipulation in certain trades in long-dated Nifty options in 2017. Earlier this year, Reliance Industries Ltd (RIL) demerged its financial services undertaking into Reliance Strategic Investments Ltd (RSIL) and renamed it as Jio Financial Services Ltd (JFSL) -- formerly known as Reliance Strategic Investments Ltd. The case pertains to certain trades in long-dated Nifty options between Reliance Strategic Investments and Morgan Stanley France SA done back in 2017. The order came after the Reliance group company approached the appellate tribunal against an order passed by Securities and Exchange Board of India (Sebi) in June 2017. In the order, the regulator levied a fine of Rs 7 lakh on the company. Setting aside the Sebi's order, a bench consisting of Justice Tarun Agarwala and Presiding Officer Meera Swarup, said the regulator h

Jio Financial Services seeks RBI approval to convert as CIC from NBFC

According to the central bank, a CIC is a company whose assets are broadly invested in their group companies either in the form of equity, preference shares, convertible bonds or loans

Stocks to Watch today: TCS, Strides, Aurobindo, Jio Financial, Titan, BoB

Stocks to watch on Wednesday, November 22, 2023: BHEL, Chambal Fertilizers, Delta Corp, Hind Copper, Indiabulls Housing, India Cements, Manappuram, MCX, NMDC, RBL Bank and Zee are in F&O ban today.

Jio Financial Services in early talks with bankers for maiden bond issue

Jio Financial, which was carved out of Reliance Industries, is in the process of getting its credit rating and other necessary approvals

Markets snap 2-day losing run; Sensex rises 276 pts, Nifty nears 19,800

Closing Bell on Tuesday, November 21: Among sectors, the Nifty Metal index rallied 1.22 per cent, followed by the Nifty Realty (1.13 per cent), and the Nifty Media (1.12 per cent)

Jio Financial Services eyes Rs 5K-10K crore via maiden bond issue

Market participants said the rate on the bonds might be 15-25 basis points higher than that on Reliance Industries bonds issued earlier this month

Jio Financial Services in talks with merchant bankers for maiden bond issue

The company may look to raise Rs 5,000 crore ($600.6 million) to Rs 10,000 crore through the issue and may tap the market in the last quarter of this financial year, the bankers added.

RBI approves Isha Ambani, others as directors of Jio Financial Services

In July 2023, the company had informed the exchanges about the appointment of the three directors, which was subject to approval from the central bank

Promoters up stake in Jio Financial; Blue Jet IPO subscribed 69% on day 1

The promoter holding in the Mukesh Ambani-led firm stood at 46.77 per cent, up 97 basis points from 45.8 per cent at the time of listing in August

Higher free float to stoke passive flows in Zomato, DLF and Jio Financial

The move follows an increase in free float in these stocks due to selling by promoters and large institutions such as Life Insurance Corporation and Softbank Vision Fund

Jio Financial set to launch suite of loan products to expand footprint

JFS plans to launch auto, home loans and other products, as the billionaire Mukesh Ambani-backed company seeks to establish itself as a full-service financial services firm in a rapidly growing market

Stocks to Watch today: HDFC Bank, Grasim, JFS, Sugar, Ceat, SpiceJet, BoM

Stocks to watch on Oct 17, 2023: HDFC Bank reported a 50 per cent jump in net in its first results after merger with HDFC; Jio Financial posted 100 per cent growth in net post demerger from Reliance.

Jio Financial Services' net profit doubles sequentially in Sept quarter

A R Ganesh appointed group chief technology officer

Jio Financial Services Q2 results: Net profit surges 101% to Rs 668 crore

Total income rose by 46.8% to Rs 608 crore from Rs 414 crore in Q1FY24. Expenses up by 32.7% at Rs 71.43 crore from Rs 53.81 crore quarter on quarter

After Reliance's entry into MF industry, Tatas evaluating bid for UTI AMC

It comes at a time when several new players have entered the market and consumers prefer real estate and bullion for investment

Is Bajaj Fin preparing to fight Jio Fin with fund raise? Analysts weigh in

The Board of Bajaj Finance is scheduled to meet next week to consider proposal for raising of funds through any or all of various methods including by way of preferential issue or QIP

LIC sells 2% shares in Sun Pharma via open market sale, stake now at 3.012%

The transaction was done via open market sale and the stake was sold between July 22 and September 13

Some active funds made hefty bets on Jio Financial amid ETF selling

The report is based on MF portfolio data of only the active market-cap based schemes like largecap, smallcap and multicap