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In July 2023, Jio Financial and America based Blackrock announced a 50:50 joint venture Jio Blackrock.
The Jio Blackrock Mutual Fund has been approved to launch four passive funds from the market regulator SEBI. These funds are Jio Blackrock Nifty Midcap 150 Index Fund, Jio Blackrock Nifty Next 50 Index Fund, Jio Blackrock Nifty Smallcap 250 Index Fund and Jio Blackrock Nifty 8-13 Year G-SEC index funds.
Out of these four funds, three are equity-oriented index funds, while a date-oriented index fund. Earlier on July 7, Jio Blacrock Asset Management raised Rs 17,800 crore through debut NFO.
Jio Blackrock raised the fund through three cash or date mutual fund schemes. This was the company’s first offering after getting a license in May. The company’s three schemes- Jio Blackrock Overnight Fund, Jio Blackrock Liquid Fund and Jio Blackrock Money Market Fund.
Plan to introduce a dozen equity and date funds by the end of the year
Last week, Reuters quoted sources as saying that Jio Blackrock Asset Management is planning to introduce about a dozen (about 12) equity and debt funds in India till the end of the year. In which small investments will be focused and distributors will not be required to reduce costs.
The report said that Jio is planning to introduce separate products in the market by taking advantage of Aladdin, India’s largest telecom network Jio and Blackrock’s investment management platform.
90 institutional investors and over 67,000 retail investors invested
Jio Blackrock is a joint venture between Mukesh Ambani’s Reliance Industries Limited company Geo Financial Services and US -based company Blackrock. Jio Blackrock said in a statement that more than 90 institutional investors and more than 67,000 retail investors invested in this first offer of three days.
Jio Blackrock Top-15 join asset management companies
The firm had said that the NFO, which was closing on 2 July 2025, was the largest in India’s cash/date fund segment. Due to this, Jio Blacrock Asset Management has joined the top-15 asset management companies from 47 fund houses based on loan assets under management in the country.
On May 27, SEBI had approved Jio Blackrock to start the operation as an environment manager for its mutual fund business in India.
Jio Blackrock also entry into broking business
10 days ago, the Security Exchange Board of India i.e. SEBI approved the Jio Blackrock Broking to act as a stockbroker. Jio Financial confirmed in exchange filing that Jio Blackrock Broking Private Limited (JBBPL) has received a registration certificate on 25 June 2025 from SEBI. This certificate gives the company permission to work as a stockbroker and a clearing member.
Joint venture announced in July 2023
In July 2023, the 50:50 joint venture was announced by Jio Financial and America based Blackrock. It aims to enter India’s asset management sector with digital-first model. In January this year, both companies invested Rs 117 crore in mutual fund business under joint venture.
SEBI approved for mutual fund business in May
In May, the joint venture of both the Jio Blackrock Asset Management Private Limited i.e. Jio Financial and Blackrock companies got SEBI’s approval to start a mutual fund business in India.
On May 27, SEBI had approved Jio Blackrock to start the operation as an environment manager for its mutual fund business in India. Jio is a joint venture of Blackrock Asset Management Private Limited, Jio Financial Services Limited (JFSL) and Blackrock’s 50:50.
SEBI had earlier given in-primary approval
Earlier, Jio Financial Services and Blackrock’s joint venture was given by the market regulator SEBI for entry into the mutual fund sector in India. Both companies will work as co-sponsors for mutual funds.
Competition will increase in 66 lakh crore MF industry
Entry in Jio’s mutual fund sector is expected to increase competition in the mutual fund industry with assets under management (AUM) more than Rs 66 lakh crore.
Both companies partnered for mutual fund business in July 2023 and applied for license near SEBI in October 2023. Both companies had announced to invest $ 15 million for asset management business in India.
Jio Financial was separated from RIL in July 2023
Reliance’s Financial Services Business separated from its original company Reliance Industries Limited (RIL) in July 2023. After the disorder, the price of Jio Financial Share was fixed at Rs 261.85 under Price Discovery Mechanism. After this, on August 21, the company’s stock was listed at Rs 265 on the Bombay Stock Exchange (BSE).
What is NFO?
NFO means new fund offer. When there is any mutual fund list, it is called NFO. All the mutual funds are still available by bringing NFOs.
