Jio Financial Services Partners with Bank of America for ₹18,268 Crore Investment in Jio Credit
Jio Financial Services Limited (JFSL) is partnering with Bank of America (BofA) for an investment of up to ₹18,268.22 crore in its subsidiary, Jio Credit Limited (JCL). BofA will acquire up to 49.9% stake in JCL through preferential allotment of shares and warrants. The agreements were executed on August 12, 2026.
The significant investment of over ₹18,000 crore from a global financial giant like Bank of America into Jio Credit Limited is a major event that will substantially impact the company's capital base, operational capabilities, and market position in the Indian financial services sector.
The partnership with a major global financial institution like Bank of America and the substantial investment amount indicate a strong positive outlook for Jio Credit Limited's growth and expansion.
Jio Financial Services Limited (JFSL) has announced a significant strategic partnership with Bank of America Corporation (BofA). Under this agreement, BofA, through its wholly-owned subsidiary NB Holdings Corporation, will invest up to ₹18,268.22 crore in JFSL's wholly-owned subsidiary, Jio Credit Limited (JCL).
The investment will be made via a preferential issue of equity shares and warrants. Initially, BofA will subscribe to equity shares for up to ₹6,612.90 crore, representing a 26.50% stake in JCL. Additionally, BofA will subscribe to warrants for up to ₹11,655.32 crore, which are convertible into equity shares within 18 months. Upon full conversion of these warrants, BofA's stake in JCL will increase to 49.90%.
This collaboration aims to combine JFSL's digital reach and understanding of the Indian market with BofA's global financial services expertise. Both entities share a vision of enhancing financial lives through advanced digital access, innovation, credit availability, and robust risk management. JCL, one of India's fastest-growing NBFCs with assets under management of ₹30,667 crore as of June 30, 2026, will receive substantial capital to support its growth trajectory.
The agreements, including the Share Subscription Agreement and Shareholders’ Agreement, were executed on August 12, 2026, at 8:15 p.m. IST. The transaction is subject to necessary statutory and regulatory approvals and is not considered a related party transaction. The Board of Directors of JFSL approved the execution of these agreements during their meeting held on August 12, 2026, which concluded at 6:42 p.m. IST.
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Jio Financial Services Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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