Jio Finance Shares Rise 4% After Jio BlackRock Mutual Fund Appoints Leadership Team

Shares of Jio Financial Services Ltd. on Monday jumped to the highest since January after its joint venture company Jio BlackRock Asset Management Pvt. announced the appointment of its executive leadership team to drive operations.

The stock settled 3.5% higher at Rs 304.25 apiece, compared to a 0.4% advance in the benchmark Nifty 50. Intraday the scrip had jumped 3.9%.

The company appointed Amit Bhosale as chief risk officer, Amol Pai as chief technology officer and Biraja Tripathy as head of product, among others.

The mutual fund company had already announced the appointment of Sid Swaminathan as managing director and chief executive officer last month.

"Together, the team is set to deliver Jio BlackRock’s mission to transform investing in India by making it more accessible and affordable for millions of people," the company said in a statement.

Jio BlackRock Asset Management has also announced an early access initiative on its website. The initiative invites individuals to register their interest in Jio BlackRock Asset Management's digital-first offering.

The company offers participants an early look at its value proposition and a chance to dive into its educational content. Upon registration, users gain access to resources covering investment basics, along with features that will enable them to invest directly once the offering goes live.