Market Cheers Jio Financial’s ₹105 Crore Deal for Jio Payments Bank, Stock Rises 4%

On Tuesday, March 4, Jio Financial Services Ltd (JFSL) announced its plan to acquire the remaining stake in Jio Payments Bank from the State Bank of India (SBI). The company will purchase 7.9 crore shares for a total consideration of ₹104.5 crore. This move will make Jio Payments Bank a wholly owned subsidiary of Jio Financial Services.

Jio Financial Services, which is backed by billionaire Mukesh Ambani’s Reliance Industries, currently holds an 82.17% stake in Jio Payments Bank. The payments bank was originally established as a joint venture between Jio Financial and SBI, the country’s largest state-run bank. With this acquisition, Jio Financial will take complete ownership, consolidating its position in the financial services sector.

Following the announcement, shares of Jio Financial Services saw a sharp rise, gaining nearly 4% in intraday trading. The stock reached a high of ₹208 on the Bombay Stock Exchange (BSE), reflecting positive investor sentiment toward the acquisition.

Jio Financial Services, which operates as a non-banking financial company (NBFC), has been expanding its presence in India’s financial ecosystem. The complete ownership of Jio Payments Bank is expected to enhance its capabilities in digital banking and payment services. The acquisition aligns with Jio Financial’s broader strategy to strengthen its footprint in India’s rapidly growing fintech and digital payments market.

Jio Financial Services to Acquire Jio Payments Bank, Awaits RBI Approval

Jio Financial Services Ltd (JFSL) has announced its plan to acquire the remaining stake in Jio Payments Bank, making it a wholly owned subsidiary. The deal has been approved by Jio Financial’s Board of Directors and is now pending regulatory clearance from the Reserve Bank of India (RBI). Once approved, the transaction is expected to be completed within 45 days.

The company also clarified that this is not a related-party transaction, and no promoters or associated group entities have any financial interest in the acquisition. This statement aims to address any potential concerns about governance or conflicts of interest in the deal.

Meanwhile, Jio Financial Services reported a stable financial performance for the third quarter of the fiscal year 2024-25, which ended in December 2024. The company’s consolidated net profit stood at ₹295 crore, reflecting a marginal increase of 0.3% compared to the ₹294 crore it reported in the same quarter of the previous fiscal year. Despite the flat profit growth, the company showed significant expansion in its assets under management (AUM), which surged to ₹4,199 crore. This marks a substantial increase from the ₹1,206 crore reported in the preceding September quarter of FY25, indicating a strong upward trend in the company’s lending and financial services portfolio.

Jio Financial Services, a non-banking financial company (NBFC) backed by Reliance Industries, has been making strategic moves to strengthen its position in India’s financial services sector. The full acquisition of Jio Payments Bank is expected to further integrate its digital banking and payments operations, positioning the company for further growth in the rapidly expanding fintech ecosystem.

Jio Financial Expands Operations, Strengthens Digital Presence and Market Position

Jio Financial Services Ltd (JFSL) has been steadily expanding its operations since its demerger from Mukesh Ambani-led Reliance Industries in 2023. As part of its growth strategy, the company has ventured into new financial services, including a planned mutual fund business in collaboration with US-based investment giant BlackRock. JFSL offers a wide range of financial products, including loans, savings accounts, UPI bill payments, and digital insurance services, catering to India’s evolving digital finance landscape.

The company has also made notable progress in strengthening its digital presence. In the quarter ended December 2024, Jio Financial recorded an average of 7.4 million monthly active users (MAUs) across all its digital platforms. This growth highlights the increasing adoption of its services as more customers engage with its digital ecosystem.

Beyond its digital expansion, Jio Financial is also scaling its physical presence. The company now operates in seven cities across India, with a total of nine offices, signaling its commitment to expanding its on-ground operations alongside its digital offerings.

Jio Financial Services continues to command a strong market position, with a market capitalization of ₹1,31,097.08 crore. On Tuesday, its stock opened at ₹200 on the Bombay Stock Exchange (BSE) and experienced an intraday surge of 4%, reaching a high of ₹208. By the end of the trading session, the stock closed 2.69% higher at ₹206.35 per share.

With its rapid expansion across multiple financial segments and increasing user engagement, Jio Financial Services is positioning itself as a key player in India’s growing fintech and NBFC sectors.