“SEBI will grant final approval for registration subject to compliance by the Company and BlackRock with the requirements set out in the said letter.” J.F.S. he said in an exchange presentation.
The company received this notification on October 4, 2024.
Earlier this year, Jio and BlackRock submitted their proposal to SEBI, aiming to launch their mutual fund business in India.
In July 2023, they formed a strategic joint venture called Jio BlackRock, designed to transform India’s asset management landscape by offering innovative and affordable investment solutions through a digital approach.
This mutual fund initiative represents an important step for Jio Financial Services, formerly known as Reliance Strategic Investments Limited, as it aims to expand its reach within the financial services sector.
Shares of Jio Financial fell 1.9% and closed at Rs 338.95 per share.
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