Joint Venture8 Sept 2024, 11:00 pm
Jio Financial Services Ltd and BlackRock Advisors Singapore Pte. Ltd. Incorporate Joint Venture Company
AI Summary
Jio Financial Services Ltd and BlackRock Advisors Singapore Pte. Ltd. have incorporated a joint venture company named ‘Jio BlackRock Investment Advisers Private Limited’ on September 6, 2024. The company will primarily carry on investment advisory services, subject to regulatory approvals. Jio Financial Services Ltd will invest Rs. 3 crore towards the initial subscription of 30,00,000 equity shares of face value Rs. 10/- each. The Certificate of Incorporation was received from the Ministry of Corporate Affairs, on September 7, 2024. This transaction does not fall within related party transactions and does not require any governmental or regulatory approvals.
Key Highlights
- Jio Financial Services Ltd and BlackRock Advisors Singapore Pte. Ltd. incorporate a joint venture company
- Company to invest Rs. 3 crore in the joint venture
- Joint venture company named ‘Jio BlackRock Investment Advisers Private Limited’
- Primary business of the joint venture is investment advisory services
- Transaction does not require any governmental or regulatory approvals