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

Economy Business

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.


      - 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.

     

     

Main Point :-   (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.


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