Jio Financial Services (JFS), led by Mukesh Ambani, bought over 7.9 crore shares of Jio Payments Bank Limited (JPBL) from the State Bank of India (SBI). Earlier, Jio Financial Services held 82.17% of the paid-up equity share capital of Jio Payments Bank Ltd. (JPBL). The company has now acquired the remaining 17.8% stake from the State Bank of India (SBI). With this deal, Jio Financial Services now owns 100% of Jio Payments Bank. It’s now a wholly-owned subsidiary.
RBI approved this deal on June 4, 2025. However the share purchased was officially completed on 18 June 2025 at 3:27 p.m. Jio bought 7.90 crore shares of Jio Payments Bank for Rs 104.54 crore.
Impact Of The Deal in Stock Market
The acquisition news came after the market closed, so its full impact wasn’t reflected in that day’s trading. On 18 June 2025 (Wednesday), JFS shares closed at ₹288, down 0.62% from the previous day’s ₹289.80. As of 18 June 2025, JFS’s market capitalization stood at ₹1.82 lakh crore. In the fourth quarter of FY25, Jio Financial Services reported a small increase in net profit and revenue, showing some growth in its business.
Why this deal matters?
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This move helps Jio Financial Services (JFS) strengthen its position in the digital banking and financial services sector.
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With full control of Jio Payments Bank, JFS can now offer more integrated financial services under one brand.
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It allows the company to move faster in: Launching new financial products and services, bringing in new ideas and innovations, expanding into rural and semi-urban markets.
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The ₹104.5 crore buyout shows JFS’s strong commitment to growing in the digital banking space.
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It also signals to investors and competitors that JFS aims to become a major player in India’s evolving financial landscape.
At the same time, Jio is expanding into mutual funds with BlackRock (a joint venture between Jio and investment giant BlackRock) and has reported some financial growth, showing its focus on becoming a major player in India’s financial sector. These are designed to offer innovative investment products to Indian consumers.