Jio Financial Services: BofA to Invest ₹18,268 Cr in Jio Credit

Jio Financial Services Ltd (JFSL) announced that its wholly-owned subsidiary, Jio Credit Limited (JCL), will receive an investment of up to ₹18,268.22 crore from NB Holdings Corporation, a subsidiary of Bank of America Corporation (BofA). This investment, structured as a preferential issue of equity shares and warrants, aims to establish a joint venture where BofA will hold up to 49.9% of JCL. The funds will support JCL's growth in the Indian market, leveraging JFSL's digital reach and BofA's global financial expertise. JCL, a fast-growing NBFC with ₹30,667 crore AUM as of June 30, 2026, will utilize this capital to expand its lending products and services.