Jio Financial Services Limited — JV/Acquisition, 04-03-2025: Acquisition

The company will acquire the remaining 17.83% stake in Jio Payments Bank Limited (JPBL) from State Bank of India for Rs. 104.54 crore, resulting in JPBL becoming a wholly owned subsidiary. This strategic move is aimed at enhancing control over the banking operations, potentially leading to improved service offerings and market positioning. The acquisition is pending approval from the Reserve Bank of India and is expected to be finalized within 45 days of receiving that approval.