Ambani-led financial arm steps up presence in wealth management; partnership with BlackRock deepens
Mumbai, April 4, 2025 — Mukesh Ambani’s Jio Financial Services (JFS) has infused fresh capital into its strategic investment advisory joint venture with global asset management giant BlackRock. The company announced a ₹66.5 crore investment in Jio BlackRock Investment Advisers Pvt Ltd, strengthening its commitment to building a robust presence in India’s wealth and investment advisory sector.
This 50:50 joint venture, launched in September 2023, is designed to tap into India’s booming retail investment market. With the latest fund injection, the total investment in the JV now stands at ₹84.5 crore.
New Investment to Accelerate Business Operations
In an official statement on Thursday, JFS confirmed the purchase of 6.65 crore equity shares at ₹10 each in the joint venture entity. The fresh capital will be utilized to expand operations and scale investment advisory offerings across India.
The venture marks a significant milestone in Jio’s ambition to reshape the Indian financial services landscape. Backed by Reliance’s deep domestic reach and BlackRock’s global financial expertise, the company aims to democratize access to quality financial advice for Indian investors.
Jio’s Strategic Pivot into Finance
Jio Financial Services was carved out of Reliance Industries in July 2023 and listed on the stock exchange in August 2023. Since then, it has aggressively expanded into multiple verticals—including lending, insurance, and wealth tech—positioning itself as a digital-first financial powerhouse.
The Jio-BlackRock partnership is among the most high-profile foreign collaborations in India’s financial sector, symbolizing growing international confidence in India’s fintech growth story.
Market Movements
On the Bombay Stock Exchange (BSE), Jio Financial Services closed at ₹230.45 on Thursday. While the stock has risen 14% in the past month and 2% in the last week, it is still down by 24% since the beginning of 2025—making this new investment a potential pivot point for investor confidence.
