NB Holdings Company, an entirely owned subsidiary of Financial institution of America Company (BoFA), will purchase a 49.9 per cent stake in Jio Credit score, the lending arm of Mukesh Ambani’s Jio Monetary Companies (JFS), for ₹18,268.22 crore, or $1.9 billion, by a preferential allotment of fairness shares and warrants, Jio Monetary Companies mentioned in a submitting with the inventory exchanges. JFS and BofA signed a definitive settlement on Wednesday.
The deal measurement is about 2.5 occasions the web value of Jio Credit score, which is estimated at ₹7,259 crore. BofA will initially purchase a 26.5 per cent stake in Jio Credit score, which may rise to 49.9 per cent upon train of the warrants. The transaction is topic to regulatory and statutory approvals. JFS will maintain the remaining stake in Jio Credit score.
Jio Credit score has constructed property underneath administration (AUM) of ₹30,667 crore, or about $3.2 billion, as of June 30, 2026, inside two years of beginning operations.
The funding will present Jio Credit score with long-term capital to assist mortgage progress because it expands its lending merchandise, whereas giving BofA larger participation in India’s rising monetary companies market.
“India is among the world’s most necessary progress markets, and this funding displays our confidence in its future, a market we all know effectively and have supported for many years,” mentioned Brian Moynihan, chair and chief govt officer of Financial institution of America.
The funding is a pure fairness infusion, as BofA doesn’t function retail banking companies outdoors the US.
Following the transaction, Jio Credit score’s board may have equal illustration from Jio Monetary Companies and BofA. Its current administration crew will proceed to run the NBFC, whereas Jio Credit score will stay consolidated as a subsidiary in Jio Monetary Companies’ monetary reporting.
“By combining our digital attain with Financial institution of America’s international pedigree, we’ll eradicate friction in credit score supply for all Indians, empowering them to chart a affluent and inclusive path ahead for the complete nation,” Ambani mentioned.
For BofA, the deal supplies an entry into India’s quickly increasing lending market by a longtime digital platform.
The US lender mentioned the funding would permit it to take part in India’s progress whereas partnering with an organization with native experience and differentiated capabilities.
The transaction can even give Jio Credit score entry to BofA’s experience in monetary companies, governance, threat administration and expertise because it expands its lending enterprise.
JFS mentioned Jio Credit score is concentrated on bridging the hole between conventional finance and fashionable accessibility by its numerous suite of lending merchandise, with ambitions to proceed its progress trajectory responsibly by offering borrowing alternatives throughout current and new merchandise in India.
