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Jio Financial Services Limited (JFSL) Acquires SBI’s Stake in JPBL for Rs 104.5 Crore.

Economy Business | Dated: 07 Mar 2025

In March 2025, Mumbai (Maharashtra)-based Jio Financial Services Limited (JFSL), the fintech arm of the Reliance Group, announced the acquisition of the remaining 17.8% stake in Jio Payments Bank Limited (JPBL) from the State Bank of India (SBI) for Rs 104.5 crore.

🎯 Key Highlights:

  • - The acquisition is subject to Reserve Bank of India (RBI) approval and is expected to be completed within 45 days post receipt of RBI approval.

💡 Other Important Facts:

  • (i) After the acquisition, JPBL will become a wholly owned subsidiary of JFSL. JPBL was originally established as a Joint Venture (JV) between JFSL and SBI.
  • (ii) Under the deal, JFSL will acquire around 79 million equity shares of Jio Payments Bank at a price of Rs 13.22 each from SBI.

📚 Test Your Knowledge:

Recently, which company acquired the remaining 17.83% stake in Jio Payments Bank Limited (JPBL) from SBI?

Correct Answer: JFSL

🚀 Quick Recap: