Jio Financial Shares Gain 3% After Bank Of America Deal For 49.9% Stake In Jio Credit

Jio Financial Services shares are in focus on Thursday after Bank of America agreed to invest in Jio Credit, the company's wholly owned non-bank lending subsidiary.

The proposed transaction could give the US banking major a stake of up to 49.9% in Jio Credit through a combination of fresh equity and warrants.

Jio Financial shares rose more than 3% to ₹263 on the Bombay Stock Exchange (BSE) during the early session on Thursday following the announcement. As of 10:22 am, the Jio Financial share price stood at ₹258 apiece, up 0.78% from the previous day’s close.

Bank Of America To Invest ₹18,268 Crore

Under the proposed arrangement, Bank of America will initially acquire a 26.5% stake in Jio Credit through a preferential allotment of equity shares.

Its holding can subsequently increase to 49.9% through the exercise of warrants, subject to regulatory and statutory approvals. The transaction has been valued at around ₹18,268 crore.

Jio Credit Has Built ₹30,667 Crore AUM In Two Years

Jio Credit started operations around two years ago and has already built assets under management (AUM) of ₹30,667 crore as of 30 June 2026.

The digital-first NBFC offers a range of lending products and is looking to expand its presence across India's credit market.

For Bank of America, the investment provides a route to deepen its participation in India's financial sector through a local partner with an established digital platform.

Bank of America CEO Brian Moynihan said India remains one of the world's important growth markets and that the investment reflects the bank's confidence in the country's long-term prospects.

Jio Financial Expands Global Partnerships

The Bank of America transaction follows a broader push by Jio Financial Services to build partnerships with international financial institutions.

The company already has joint ventures with BlackRock in asset and wealth management. It has also partnered with Germany's Allianz to offer general and health insurance products in India.

Jio Financial entered the listed markets in 2023 following its demerger from Reliance Industries. Its businesses now span digital lending, payments, insurance broking and asset management.

The company has increasingly used partnerships with global financial groups to build out these businesses rather than developing every segment independently.

Mukesh Ambani Calls Deal A Milestone

Reliance Industries Chairman Mukesh Ambani said the partnership with Bank of America would support the company's broader objective of making financial services simpler and more accessible.

He said India's long-term development would require a financial system that combines scale with greater access to responsible credit, transparency and lower costs for customers.

Ambani added that the Jio Financial-Bank of America partnership would combine Jio's digital reach with the US bank's global financial services capabilities.

The proposed transaction now awaits the required regulatory and statutory approvals before Bank of America's stake can move from the initial 26.5% to the planned 49.9%.

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