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Jio, BlackRock invest $14m in new mutual fund venture
Jio Financial Services (JFS) and BlackRock have jointly invested 117 crore rupees (US$14 million) in their mutual fund joint venture, Jio BlackRock Asset Management.
Each company subscribed to 5.85 crore rupees (US$713,000) equity shares at 10 rupees (US$0.12) per share, as disclosed by JFS on Jan. 21.
This investment follows a 50:50 partnership agreement announced last year.
The agreement aims to launch wealth management and brokerage services in India.
Recent Jio Financial Services developments
| Timeline |
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12-Dec-2024 📈 Jio BlackRock appoints first chief investment officer
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22-Aug-2023 📉 Jio Financial Services’ stock price plummets on listing day
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21-Aug-2023 🚀 In 50 Words: Jio Financial set to list in Mumbai
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27-Jul-2023 💼 BlackRock, Jio team up to democratize investing for Indians
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