Jio Financial Services shares traded at ₹293.45, up ₹2.05 or 0.70 per cent as of 10.42 AM on the NSE today, following regulatory approval for its mutual fund joint venture with BlackRock.
The Securities and Exchange Board of India granted certificate of registration to ‘Jio BlackRock Mutual Fund’ and approved Jio BlackRock Asset Management Private Limited as the Asset Management Company on May 26, 2025.
JioBlackRock Asset Management, a 50:50 joint venture between Jio Financial Services and global asset manager BlackRock, can now commence operations as an investment manager for mutual fund business in India. The company plans to launch investment products incorporating BlackRock’s data-driven investing capabilities in coming months.
Sid Swaminathan has been appointed Managing Director and CEO of the new asset management company. The joint venture aims to serve both retail and institutional investors in India’s growing mutual fund market.
Isha Ambani, Non-Executive Director at JFSL, said the partnership combines global investment expertise with Jio’s digital-first innovation to make investing accessible for Indians. Rachel Lord, Head of International at BlackRock, highlighted the digital-first customer proposition delivering institutional quality products at lower costs.
The regulatory approval follows a nearly two-year process that began with the initial joint venture announcement in July 2023.
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Published on May 28, 2025
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