Jio Financial and BlackRock invest ₹229 crore in AMC venture
pre-market1 source ↓written by the desknot a recommendation
- at a face
- 22.9 crore shares
- face value
- ₹10
- through a rights
- ₹229 crore
Jio Financial and BlackRock each subscribed to 22.9 crore shares at a face value of ₹10, totaling ₹229 crore through a rights issue. This capital will support the joint venture's business expansion amid rising retail participation in mutual funds. The transaction is classified as a related-party deal but executed at arm’s length.
Not investment advice. For informational purposes only.