Jio Financial Acquires SBI’s Stake in Jio Payments Bank, Gains Full Ownership

Jio Financial Services Ltd (JFSL) on Wednesday, June 18, announced that it has acquired State Bank of India’s entire stake in Jio Payments Bank Ltd (JPBL), purchasing 7.91 crore equity shares for Rs 104.54 crore. The acquisition received regulatory clearance from the Reserve Bank of India on June 4, 2025, the company said in a regulatory filing.

With this acquisition, JPBL is now a wholly owned subsidiary of Jio Financial Services. Until now, the payments bank was run as a joint venture between JFSL and the public sector lender, SBI.
Following the deal, Jio Payments Bank’s valuation stands at 586 crore.

The move marks a significant move by JFSL—formerly known as Reliance Strategic Investments —as it looks to deepen its presence in digital banking and financial services under the broader Reliance ecosystem.

It may be recalled that in March 2025, In March, Jio Financial had announced its intentions to buy the 17.8% stake from SBI.

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Robust Finacial performance

JFSL also posted strong earnings for the March quarter (Q4), reporting an 18% Year-on-Year YoY) rise in revenue to Rs 493.2 crore. The growth was primarily led by robust performance across its lending, leasing, and digital finance segments. The company's net profit for the quarter inched up to Rs 316 crore, as against Rs 310.6 crore in the same period last year.

AUM shoots up

JFSL also saw a huge jump in assets under management (AUM) for the full financial year, which surged to Rs 10,053 crore as of March 31, 2025 as against Rs 173 crore the previous year. This growth was underpinned by Jio Finance Ltd, which aggressively scaled up its lending and leasing portfolio while extending its services to 10 major cities.

About JFSL

Carved out of Reliance Industries, Jio Financial Services now operates across several verticals — including investment and financing, insurance broking, payment bank operations, as well as payment gateway and aggregator services.

The shares of Jio Financial Services ended the day at Rs 288 on the BSE, down Rs 1.80 or 0.62%.