Jio Financial Soars 5% as Jio BlackRock Gets SEBI Go-Ahead to Enter Stockbroking

Shares of Jio Financial Services climbed 5% higher on June 27 after markets regulatory, the Securities and Exchanges Board of India (SEBI) gave a nod to Jio BlackRock Broking to operate as a stockbroker and clearing member.

With today’s surge, the stock has extended its uptrend to the fourth session in a row, gaining as much as 12% during the period. The strong upmove in today’s session was also powered by robust trading volumes. As many as five crore shares of Jio Financial changed hands thus far, already more than double the one-month daily traded average of two crore shares.

This latest development comes on the heels of JioBlackRock Asset Management receiving SEBI’s nod to launch its mutual fund operations just last month. In a press statement, the company said it aims to offer a fresh, innovative investment experience to India’s growing pool of retail and institutional investors.

The asset management firm aims to harness the best of both worlds: Jio Financial’s vast digital reach and local market insight, paired with BlackRock’s global investment expertise and top-tier risk management technology.

Formed as a 50:50 joint venture between Jio Financial, an arm of Reliance Industries and US-based investment giant BlackRock, JioBlackRock officially came into being in July 2023 with a clear mission: to reshape India’s asset management landscape through a digital-first approach.

Earlier this year, the two partners invested ₹117 crore into the mutual fund venture, underscoring their long-term commitment. The aim is to deliver a platform that’s affordable, transparent, and tech-driven, designed to meet the needs of modern Indian investors.

“India’s rapid growth is powered by a new generation with bold ambitions,” said Isha Ambani, Non-Executive Director at Jio Financial. “Our partnership with BlackRock is a powerful fusion of world-class investment expertise and Jio’s digital-first innovation. Together, we’re committed to making investing simple, inclusive, and accessible for every Indian. I’m confident JioBlackRock Asset Management will play a transformative role in India’s financial future.”