Financial institution of America, by way of its subsidiary NB Holdings, will make investments ₹18,268 crore, or round $1.9 billion, in Jio Credit score, Jio Monetary Providers’ wholly owned lending subsidiary. The funding will give Financial institution of America a stake of as much as 49.9% in Jio Credit score.
The funding will probably be made by way of a preferential difficulty of fairness shares and warrants. Of the overall funding, ₹6,612.90 crore will probably be invested for a 26.5% fairness stake, whereas ₹11,655.32 crore will probably be by way of warrants.
Financial institution of America pays 25% of the warrant consideration, amounting to ₹2,913.83 crore, upfront. It will take the overall upfront money funding in Jio Credit score to ₹9,526.73 crore.
The remaining ₹8,741.49 crore will probably be payable upon conversion of the warrants, taking Financial institution of America’s stake to 49.9% and its whole funding to ₹18,268.22 crore.
The transaction is topic to regulatory and statutory approvals. The three way partnership could have equal illustration from Jio Monetary Providers and Financial institution of America on the Jio Credit score board.
Jio Credit score will proceed to be consolidated as a subsidiary in Jio Monetary Providers’ monetary statements.
The transaction marks Jio Monetary Providers’ third main international partnership, following its three way partnership with BlackRock in asset administration and partnership with Allianz in insurance coverage.
Jio Credit score, a digital-first non-banking monetary firm, focuses on secured lending throughout retail, industrial and provide chain finance. Its belongings beneath administration stood at ₹30,667 crore as of June 30, 2026.
Financial institution of America Chair and CEO Brian Moynihan mentioned the funding displays the lender’s confidence in India’s development prospects. He mentioned the partnership will mix Jio Monetary Providers’ scale, native experience and buyer base with Financial institution of America’s international attain and digital capabilities.
Reliance Industries Chairman and Managing Director Mukesh Ambani mentioned the partnership is aimed toward increasing entry to accountable credit score and making monetary companies extra seamless by way of expertise.
