Jio Financial Services Acquires SBI’s Stake in Jio Payments Bank, Gains Full Ownership: Jio Finance Shares Up

Jio Financial Services, a subsidiary of the Mukesh Ambani-led Reliance Industries Limited (RIL) group, opened on a positive note and was trading in the green during early trade on Thursday. The stock's upward movement came after the company announced the acquisition of a significant stake in Jio Payments Bank Limited (JPBL) from the State Bank of India (SBI). According to the disclosure, Jio Financial acquired 7.90 crore equity shares of JPBL, valued at Rs 104.54 crore.

Jio Financial Services Fully Acquired Jio Payments Bank

Jio Financial Services has acquired 7,90,80,000 equity shares of Jio Payments Bank from the State Bank of India for a total consideration of Rs 104.54 crore. Following the transaction, Jio Payments Bank is now a wholly owned subsidiary of Jio Financial Services, the company confirmed in a stock exchange filing.

Jio Payments Bank: Joint Venture of SBI and Jio Financial Services

Established in 2018 as a joint venture between SBI and Jio Financial Services, backed by Reliance Industries, Jio Payments Bank has emerged as a notable player in India's payments banking space. As of December 2024, the bank serves approximately 1.89 million CASA customers.

Payments banks in India are designed to promote digital transactions and financial inclusion, allowing deposits of up to Rs 2 lakh per customer

In March, Jio Financial Services announced its intention to acquire a 17.8% stake in Jio Payments Bank from the State Bank of India. As per a PTI report, Jio Financial Services already held an 82.17% stake in Jio Payments Bank at that time.

The Reserve Bank of India (RBI) approved the deal on June 4, 2025. With the completion of the transaction, Jio Payments Bank is now a wholly-owned subsidiary of Jio Financial Services. Previously, it functioned as a joint venture between Jio Financial Services and the SBI.

Jio Finance Share Price Today

Jio Financial Services Ltd (NSE: JIOFIN) witnessed a modest gain in today's trading session, with its share price edging up by Rs 0.60, or 0.21%, to close at Rs 288.75.

The stock opened at Rs 289.50 and reached an intraday high of Rs 290.60, while the day's low stood at Rs 287.00, reflecting relatively stable movement within a narrow range.

Over the past year, Jio Financial Services has shown considerable price fluctuation, touching a 52-week high of Rs 368.30 and a 52-week low of Rs 198.65, indicating notable investor interest and market activity during the period.

Jio Financial Services Financial Performance: Q4 FY2025 Profit, Revenue and Dividend

Jio Financial Services reported a slight 2% decline in net profit for the quarter ended March 2025, with earnings falling to Rs 316 crore, compared to Rs 310 crore in the previous quarter of the last fiscal year.

Despite the modest dip in profit, the company recorded a strong surge in revenue from operations, which rose sharply to Rs 493.24 crore, reflecting robust business momentum. In a further boost to shareholder value, Jio Financial Services also declared a dividend of Rs 0.50 per share for the quarter.