Big boost for Mukesh Ambani owned, Jio Financial. The share price of Jio Financial is 4% intra-day for the second day after Jio BlackRock Broking (JBBPL) gets the final approval from the Securities and Exchange Board of India (SEBI) to act as a stockbroker and clearing member. JioBlackRock is a 50:50 joint venture between Reliance Industries owned, Jio Financial Services and BlackRock Inc.
Jio BlackRock Broking set to begin broking operations
With this regulatory green light, Jio BlackRock Broking is now ready to launch its operations in India’s competitive stock broking and clearing segment. This approval follows earlier disclosures by the company on April 15, 2024, and January 21, 2025, where it had outlined plans to expand into the broking space.
Jio BlackRock Broking is a joint venture between Jio Financial Services and BlackRock
JBBPL was incorporated on January 20, 2025, as a wholly owned subsidiary of Jio BlackRock Investment Advisers. The broking arm was set up with an initial investment of ₹25 crore.
This move is part of a broader expansion strategy under the Jio BlackRock umbrella. The joint venture began with the incorporation of Jio BlackRock Investment Advisers in September 2024 and has since gained regulatory clearances for mutual fund and advisory businesses as well.
Full-service financial platform
The launch of the broking unit highlights the joint venture’s ambition to create a full-spectrum financial services platform in India. With approvals in place for multiple verticals, Jio BlackRock appears to be pushing ahead with a fast-paced rollout across the financial services ecosystem.