Jio Financial Services To Buy SBI’s Stake In Jio Payments Bank

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SUMMARY

JFS, which currently owns 82.17% of the paid-up equity share capital of Jio Payments Bank Ltd (JPBL), will acquire SBI’s stake for INR 104.54 Cr

JPBL was set up in a 77:23 partnership between Reliance Industries and SBI in 2016

SBI said in its exchange filing that JPBL’s net worth stood at INR 104.26 Cr as of November 11, 2024

Fintech company Jio Financial Services (JFS) is acquiring the entire stake of the State Bank of India (SBI) in its subsidiary Jio Payments Bank.

JFS, which currently owns 82.17% of the…



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Jio Financial Services To Buy SBI’s Stake In Jio Payments Bank


SUMMARY

JFS, which currently owns 82.17% of the paid-up equity share capital of Jio Payments Bank Ltd (JPBL), will acquire SBI’s stake for INR 104.54 Cr

JPBL was set up in a 77:23 partnership between Reliance Industries and SBI in 2016

SBI said in its exchange filing that JPBL’s net worth stood at INR 104.26 Cr as of November 11, 2024

Fintech company Jio Financial Services (JFS) is acquiring the entire stake of the State Bank of India (SBI) in its subsidiary Jio Payments Bank.

JFS, which currently owns 82.17% of the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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