Jio Financial Services To Buy SBI’s Stake In Jio Payments Bank

JFS, which currently owns 82.17% of the paid-up equity share capital of Jio Payments Bank Ltd (JPBL), will acquire SBI’s stake for INR 104.54 Cr

JPBL was set up in a 77:23 partnership between Reliance Industries and SBI in 2016

SBI said in its exchange filing that JPBL’s net worth stood at INR 104.26 Cr as of November 11, 2024

Fintech company Jio Financial Services (JFS) is acquiring the entire stake of the State Bank of India (SBI) in its subsidiary Jio Payments Bank.

JFS, which currently owns 82.17% of the…