The transaction follows the approval granted by the Reserve Bank of India (RBI) on 7 June 2025, enabling the transfer of shares. JPBL is now a wholly owned subsidiary of Jio Financial Services.
Jio Financial Services (JFSL) is a core investment company (CIC), registered with the Reserve Bank of India. JFSL is a new-age institution, which operates a full-stack financial services business through customer-facing entities, including Jio Finance, Jio Insurance Broking, Jio Payment Solutions, Jio Leasing Services, Jio Finance Platform and Service, and Jio Payments Bank.
The company had reported 1.8% increase in consolidated net profit to Rs 316.11 crore on 18% jump in revenue from operations to Rs 493.24 crore in Q4 FY25 over Q4 FY24.
Shares of Jio Financial Services fell 1.20% to Rs 284.55 on the BSE.