Jio Financial Services Ltd (JFSL) today said it has acquired 7.9 crore shares of Jio Payments Bank from State Bank of India for ₹ 105 crore, making the payments bank wholly owned subsidiary of JFSL.
“The Company has today at around 3.27 pm acquired 7,90,80,000 equity shares of Jio Payments Bank Ltd (“JPBL”) from State Bank of India for an aggregate consideration of ₹104.54 crore pursuant to the approval received from Reserve Bank of India on June 4, 2025. Consequent to this acquisition, JPBL has become a wholly owned subsidiary of the Company,” the company said.