Jio Fincl buys SBI's stake in Jio Payments Bank, makes it wholly-owned arm
This story was originally published at 17:16 IST on 18 June 2025
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--Jio Fincl acquires 79.08 mln shrs of Jio Payments from SBI for INR 1.05 bln
NEW DELHI - Jio Financial Services Ltd. Wednesday said it has bought 79.08 million shares of Jio Payments Bank Ltd. from State Bank of India for INR 1.05 billion. Jio Financial bought these shares after the approval of Reserve Bank of India, it said in an exchange filing.
Thanks to this acquisition, Jio Payments Bank has now become a wholly-owned subsidiary of Jio Financial. Jio Payments Bank was a joint venture between Jio Financial Services and SBI. The board of Jio Financial had approved this acquisition in March.
Shares of Jio Financial ended 0.6% lower at INR 288.15 on the National Stock Exchange on Wednesday. SBI's shares closed 0.1% lower at INR 791.90. End
Reported by Shubham Rana
Edited by Vandana Hingorani
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