Acquisitions18 Jun 2025, 04:41 pm
Jio Financial Services Acquires Jio Payments Bank Limited from State Bank of India
AI Summary
Jio Financial Services Ltd. has acquired 7,90,80,000 equity shares of Jio Payments Bank Limited (JPBL) from State Bank of India. The acquisition was made for an aggregate consideration of Rs. 104.54 crore, following the approval received from the Reserve Bank of India on June 4, 2025. This acquisition has resulted in JPBL becoming a wholly owned subsidiary of Jio Financial Services Ltd.
Key Highlights
- Jio Financial Services Ltd. has acquired 7,90,80,000 equity shares of Jio Payments Bank Limited from State Bank of India
- The acquisition was made for a consideration of Rs. 104.54 crore
- The acquisition follows the approval received from the Reserve Bank of India
- Jio Payments Bank Limited has become a wholly owned subsidiary of Jio Financial Services Ltd.