New Delhi, Jio Financial Services on Sunday said it has formed a joint venture with BlackRock Advisors Singapore Pte Ltd to launch an investment advisory business.
Jio BlackRock Investment Advisors Pvt Ltd was incorporated on September 6 to carry on the primary business of investment advisory services, subject to regulatory approvals, Jio Financial Services said in a filing.
The company will invest Rs 3 crore for initial subscription of 30,00,000 equity shares of face value Rs 10 each.
It said the certificate of incorporation was received from the Ministry of Corporate Affairs on September 7, 2024.
Jio Financial Services Ltd, the spun-off financial services arm of billionaire Mukesh Ambani's Reliance, had earlier announced a joint venture with BlackRock for asset management and wealth management.
Last month, Jio Finance Ltd, an NBFC arm of Jio Financial Services, had said it was in the advanced stages of launching home loans, which has been launched in beta mode.
Apart from this, the company is also going to introduce other products like loan against property and loan against securities.
Jio BlackRock Investment Advisors Pvt Ltd was incorporated on September 6 to carry on the primary business of investment advisory services, subject to regulatory approvals, Jio Financial Services said in a filing.
The company will invest Rs 3 crore for initial subscription of 30,00,000 equity shares of face value Rs 10 each.
It said the certificate of incorporation was received from the Ministry of Corporate Affairs on September 7, 2024.
Jio Financial Services Ltd, the spun-off financial services arm of billionaire Mukesh Ambani's Reliance, had earlier announced a joint venture with BlackRock for asset management and wealth management.
Last month, Jio Finance Ltd, an NBFC arm of Jio Financial Services, had said it was in the advanced stages of launching home loans, which has been launched in beta mode.
Apart from this, the company is also going to introduce other products like loan against property and loan against securities.
