Jio Financial Services (JFS) and BlackRock have each invested Rs 229.5 crore into their two joint ventures.
In separate regulatory filings, JFS said it subscribed to rights issues of Jio BlackRock Asset Management and Jio BlackRock Investment Advisers, with BlackRock contributing an equal amount.
JFS invested Rs 136 crore in the asset management venture and Rs 93.5 crore in the investment advisory business. Both entities operate as 50:50 joint ventures and will utilise the fresh capital to fund business operations.
The investment in the advisory arm has been classified as a related-party transaction and was executed on an arm’s length basis, according to JFS. The company added that the transaction does not require any governmental or regulatory approvals. Under the rights issue, the partners subscribed to 136 million equity shares in the asset management unit and 93.5 million equity shares in the advisory arm, each at a face value of Rs 10.
The capital infusion comes as JFS accelerates efforts to build a full-stack financial services platform spanning lending, payments, asset management and advisory services.
Over the past year, the company has established multiple regulated entities and long-term partnerships to compete with established financial institutions. In January 2025, JFS and BlackRock incorporated a third entity, Jio BlackRock Broking Pvt. Ltd., and applied for a broking licence in March. All three ventures are currently expanding teams and refining go-to-market strategies following regulatory approvals earlier this year.
Jio BlackRock Asset Management has scaled rapidly since its launch. In its Q2 FY26 disclosures, JFS said the asset manager’s assets under management crossed Rs 15,980 crore across nine mutual fund schemes within four months. During the September quarter, the joint venture launched six new schemes, including four equity index funds, one debt index fund and its first active equity fund.
The platform currently serves 150 institutional investors and 6.35 lakh retail investors, with 40 per cent of retail assets under management originating from beyond India’s top 30 cities.
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