January 21, 2025
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Jio Financial enters broking business
Jio Financial Services Ltd has recently announced in an exchange filing that its joint venture, Jio BlackRock Investment Advisers Private Limited, has established a wholly owned subsidiary called ‘Jio BlackRock Broking Private Limited’ as of January 20, 2025. This new entity is set to engage in broking activities, pending the necessary regulatory approvals.
The firm and BlackRock decided to collaborate on a joint venture to enter the asset management sector and have submitted a request for final approval. On October 19, 2023, the joint venture applied to the Securities and Exchange Board of India to launch a mutual fund operation.
