Payments Bank, Financial Services and Jio

Reliance's Jio Financial to buy Jio Payments Bank shares from SBI for 1.05 billion rupees
India's Jio Financial Services will buy shares it did not already own in its joint venture for 1.05 billion rupees ($12.03 million) from partner State Bank of India to bolster financial operations, the Reliance group company said on Tuesday.
Jio Financial Takes Full Control of Jio Payments Bank
Jio Financial Services is set to acquire SBI's stake in Jio Payments Bank for Rs 104.54 crore, making it a wholly owned subsidiary. The acquisition awaits Reserve Bank of India's approval and will be finalized within 45 days post-approval.
Board of Jio Financial Services approves acquisition of balance stake in Jio Payments Bank
The Board of Jio Financial Services at its meeting held on 04 March 2025 has approved acquisition of 7,90,80,000 equity shares of Jio Payments Bank (JPBL) from State Bank of India for an aggregate consideration of Rs. 104.54 crore. Post this acquisition, JPBL will become a wholly owned subsidiary of the Company.
Jio Financial Services to acquire SBI’s entire stake worth Rs 104 cr in Jio Payments Bank – Details
The financial services provider currently holds 82.17 per cent stakes of Jio Payments Bank Limited, a joint venture of Jio Financial and SBI, begun in 2018. Post this acquisition, JPBL will become a wholly owned subsidiary of the company,
Jio Financial shares rise 4% on plans to acquire Jio Payments Bank shares worth ₹105 crore from SBI
Jio Financial Services Ltd will acquire 7.9 crore shares of Jio Payments Bank from State Bank of India (SBI) for ₹104.5 crore, making the payments bank its wholly owned subsidiary. Currently, Jio Fin holds an 82.
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