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3w ago

Jio Financial Services Takes Full Control of Jio Payments Bank in Rs104.5 Crore Deal

The deal consolidates Jio Payments Bank under JFS’s control with RBI clearance, underscoring its strategy to deepen digital financial offerings.

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Jio Financial shares down 10% in 6 months; is this a buying opportunity?
Jio Financial Services I Share Price | Image: Jio
Jio Financial Services | Image: Republic

Overview

  • JFS acquired SBI’s entire 17.8% stake by purchasing 7.91 crore JPBL shares at Rs13.22 each for Rs104.54 crore, with the transaction closing on June 18.
  • Following the share transfer, Jio Payments Bank transitioned from a joint venture to a wholly owned subsidiary of Jio Financial Services.
  • JPBL’s valuation rose to Rs586 crore after the acquisition, reflecting investor confidence in the digital lender.
  • Over the past year JPBL’s customer base tripled to 2.31 million users and its deposits climbed to Rs295 crore.
  • Jio Financial’s assets under management surged to Rs10,053 crore as of March 31, 2025, highlighting its rapid expansion in financial services.