Jio Financial Services Limited (JIOFIN) — Board Meeting | 12 August 2026(2 announcements)

Jio Financial Services announced a strategic partnership with Bank of America through Jio Credit Limited, involving up to ₹18,268.22 crore investment for a 49.9% stake. The capital will be raised via preferential allotment of equity shares and warrants, with NB Holdings Corporation (a BofA subsidiary) subscribing to 26.5% equity initially, potentially increasing to 49.9% upon warrant conversion. The transaction, finalized in a board meeting on August 12, 2026, aims to accelerate JCL's growth in India's expanding financial sector while leveraging BofA's global expertise. This partnership underscores confidence in India's market and supports Jio's mission to democratize credit access.

Jio Financial Services announced a strategic partnership with Bank of America through Jio Credit Limited, involving up to ₹18,268.22 crore investment for a 49.9% stake. The capital will be raised via preferential allotment of equity shares and warrants, with NB Holdings Corporation (a BofA subsidiary) subscribing to 26.5% equity initially, potentially increasing to 49.9% upon warrant conversion. The transaction, finalized in a board meeting on August 12, 2026, aims to accelerate JCL's growth in India's financial sector while leveraging BofA's global expertise. This partnership underscores confidence in India's financial ecosystem and positions Jio to expand credit access and innovation.