MUMBAI: Jio Financial has said its subsidiary Jio Blackrock has got the Sebi nod to launch a stock broking unit under the name of Jio BlackRock Broking.
The announcement saw Jio shares jumping close to 5 per cent on Friday, making it the fourth straight session of gains for the stock, which has advanced over 10 per cent over the past four trading days.
Jio BlackRock Broking has received a certificate of registration from Sebi on June 25, allowing it to operate as a stockbroker and clearing member, the company informed the exchanges Friday.
In July 2023, Jio Financial and the US-based BlackRock had announced a 50:50 joint venture for an AMC business with a digital-first model. And since then the partners have infused Rs 117 crore in mutual fund business, which got the regulatory approvals earlier this month. And in January this year, both the partners invested another Rs 117 crore into the mutual fund business.