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Jio Financial shares jump 3% as Bank of America set to acquire 50% stake in Jio Credit for Rs 18,268 crore
AI Summary
- ·Bank of America will acquire up to 49.9% of Jio Credit through a Rs 18,268 crore joint venture.
- ·The US bank will initially acquire 26.5% of Jio Credit, with the potential to increase to 49.9% via warrants.
- ·Jio Credit had an Assets Under Management (AUM) of Rs 30,667 crore as of June 2026.