{"id":6390,"date":"2025-03-04T17:58:47","date_gmt":"2025-03-04T12:28:47","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=6390"},"modified":"2025-03-04T17:58:49","modified_gmt":"2025-03-04T12:28:49","slug":"jio-financial-services-to-acquire-full-ownership-of-jio-payments-bank-by-buying-sbis-stake-for-%e2%82%b9104-crore","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/jio-financial-services-to-acquire-full-ownership-of-jio-payments-bank-by-buying-sbis-stake-for-%e2%82%b9104-crore\/","title":{"rendered":"Jio Financial Services to Acquire Full Ownership of Jio Payments Bank by Buying SBI\u2019s Stake for \u20b9104 Crore"},"content":{"rendered":"\n

Jio Financial Services Ltd (JFSL) announced on March 4 that its board has approved the acquisition of 7.9 crore shares of Jio Payments Bank Ltd (JPBL) from State Bank of India (SBI) for \u20b9104.54 crore.<\/p>\n\n\n\n

Currently, JFSL holds 82.17% of JPBL\u2019s paid-up equity share capital, while SBI is a minority partner. After this acquisition, Jio Payments Bank will become a wholly-owned subsidiary of JFSL.<\/p>\n\n\n\n

The transaction is subject to approval from the Reserve Bank of India (RBI) and is expected to be completed within 45 days after RBI gives the necessary clearance, according to a stock exchange filing by JFSL.<\/p>\n\n\n\n

At 2:45 PM on March 4, JFSL shares on NSE were trading 3% higher at \u20b9207 per share, reflecting positive investor sentiment towards the deal.<\/p>\n\n\n\n

Jio Financial Services Expanding its Presence in Digital Finance<\/strong><\/h3>\n\n\n\n

JFSL, which was spun off from Reliance Industries Ltd, operates in various financial segments, including investing and financing, insurance broking, payment banking, payment aggregation, and payment gateway services.<\/p>\n\n\n\n

In May 2024, JFSL launched a pilot version of its \u2018JioFinance\u2019 app, offering UPI, digital banking, and other financial services.<\/p>\n\n\n\n

Additionally, in April 2024, JFSL announced a strategic partnership with BlackRock Inc., a leading global investment management firm, to launch a wealth management and broking business in India.<\/p>\n\n\n\n

Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com<\/a>.<\/p>\n\n\n\n

Source: Moneycontrol<\/a>.<\/sub><\/sup><\/p>\n","protected":false},"excerpt":{"rendered":"

Jio Financial Services Ltd (JFSL) announced on March 4 that its board has approved the acquisition of 7.9 crore shares of Jio Payments Bank Ltd (JPBL) from State Bank of India (SBI) for \u20b9104.54 crore. Currently, JFSL holds 82.17% of JPBL\u2019s paid-up equity share capital, while SBI is a minority partner. After this acquisition, Jio […]<\/p>\n","protected":false},"author":1,"featured_media":6391,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[1046],"class_list":["post-6390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-jio-finance-services"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=6390"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6390\/revisions"}],"predecessor-version":[{"id":6392,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/6390\/revisions\/6392"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/6391"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=6390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=6390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=6390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}