Jio Financial shares in focus on Rs 18,268-crore deal with Bank of America 

Shares of Jio Financial Services Ltd (JFSL) are in focus today after the leading NBFC player announced a definitive agreement with Bank of America to establish a joint venture in India, under which the US banking giant will acquire up to a 49.9% stake in Jio Credit, JFSL’s wholly owned non-banking financial company (NBFC).

Jio Financial Services shares ended 0.83% higher at Rs 255 on Wednesday against the previous close of Rs 252.90. Market cap of the firm rose to Rs 1.68 lakh crore.

The proposed investment, comprising equity shares and warrants, is expected to total up to Rs 18,268 crore (around $1.9 billion) upon full subscription, marking one of the largest foreign investments in India’s financial services sector.

As part of the transaction, Bank of America will initially buy a 26.5% equity stake in Jio Credit through a preferential allotment of shares. The US lender will have the option to increase its holding to 49.9% by exercising warrants at a later stage.

Jio Financial Services clarified that the transaction remains subject to regulatory and statutory approvals.

Jio Credit, which started operations two years ago, had assets under management (AUM) of Rs 30,667 crore as of June 30, 2026. The digital-first lender offers a wide range of credit products and aims to strengthen its footprint across India’s rapidly expanding lending market.

The partnership is expected to combine Jio Financial’s digital reach and technology-led platform with Bank of America’s global financial expertise, enabling the joint venture to tap growth opportunities in India’s evolving credit ecosystem.

Commenting on the partnership, RIL Chairman and MD Mukesh Ambani said the tie-up would help advance Jio Financial Services’ objective of making credit more accessible, transparent and affordable for Indians.

"By combining our digital reach with Bank of America’s global pedigree, we will eliminate friction in credit delivery for all Indians," he added.