Terms of the offer
The board of Jio Financial Services Ltd. approved the acquisition of 7.9 crore shares of Jio Payments Bank Ltd. from State Bank of India for Rs 104 crore. Currently, JFSL holds an 82.17% stake in JPBL, a joint venture of the company and SBI , according to exchange filings by the companies. Current Stake : Jio Financial Services currently holds an 82.17% stake in Jio Payments Bank , with the remaining held by SBI . Post- Acquisition : After the deal, Jio Financial Services will own 100% ... 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. Jio Financial Services Ltd (JFSL) has completed the acquisition of State Bank of India’s 17.8% stake in Jio Payments Bank, making the digital bank its fully-owned subsidiary. The ₹104.54 crore transaction, approved by the RBI on June 4, strengthens JFSL’s position in the fintech space.
