- Jio Financial shares rose 3.27% after BofA's strategic investment in Jio Credit
- BofA will acquire up to 49.9% stake in Jio Credit for Rs 18,268 crore
- Jio Credit's AUM reached Rs 30,667 crore as of June 30, 2026
Jio Financial Services shares were in demand in early trade on Thursday, rising as much as 3.27% to hit an intraday high of Rs 263.35 per share, after Bank of America (BofA) announced a strategic investment in the company's lending subsidiary, Jio Credit.
At 9:24 am, Jio Financial Services shares were trading 0.75% higher at Rs 256.90 per share, off the day's high. In comparison, the BSE Sensex was trading at 77,802, down 0.22%.
BofA has entered into a joint venture with Jio Financial Services and will acquire up to a 49.9% stake in Jio Credit for a total investment of Rs 18,268 crore, according to an exchange filing on Wednesday. The investment, equivalent to around $1.9 billion, comprises Rs 6,613 crore through a preferential allotment of equity shares and Rs 11,655 crore through warrants.
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The transaction will create a strategic partnership between Jio Financial Services and the US banking major, combining Jio's digital reach and understanding of the Indian market with BofA's global financial services expertise.
Jio Credit AUM Crosses Rs 30,000 Crore
Jio Credit had assets under management (AUM) of Rs 30,667 crore as of June 30, 2026, as it continues to expand its digital-first lending business. The company offers secured lending products across retail and commercial segments, including mortgages, loans against securities, commercial finance and supply-chain finance.
The fresh capital from BofA is expected to support Jio Credit's growth and expanhttps://www.ndtvprofit.com/markets/tata-motors-cv-story-is-getting-stronger-nomura-upgrades-to-buy-hikes-target-price-11902934?pfrom=home-business_topstoriession of its lending operations in India.
Equal Board Representation
Following the transaction, Jio Credit's board will have equal representation from Jio Financial Services and BofA. However, Jio Credit will continue to be consolidated as a subsidiary of Jio Financial Services, while its existing management team will continue to oversee the company's strategy and operations.
The partnership also adds to Jio Financial Services' growing roster of global financial partners, which includes BlackRock in asset management and wealth management, and Allianz in insurance.
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