Jio Financial Services Invests Rs. 136 Crore in Joint Venture with BlackRock

Jio Financial Services Ltd. and BlackRock have each subscribed to and been allotted 13,60,00,000 equity shares of face value Rs. 10/- each of Jio BlackRock Asset Management Private Limited. This is a 50:50 Joint Venture between Jio Financial Services and BlackRock. The investment, amounting to Rs. 136 crore, was made on a rights issue basis and will be used to fund the JV's business operations. The transaction is a related party transaction, conducted on an arm's length basis, and does not involve any interest from the company's promoter, promoter group, or other group companies. No governmental or regulatory approval was required for the transaction, which was completed today at 1.05 p.m.