Mukesh Ambani's company which will distribute home loans, has now done another big deal
Mukesh Ambani's company which will distribute home loans, has now done another big deal, made a joint venture with BlackRock
Reliance New Business: Mukesh Ambani's company Reliance has made another big deal. Jio Financial Services has formed a joint venture with Singapore's company BlackRock Advisors.
Mukesh Ambani: Mukesh Ambani's company Reliance has made another big deal. Jio Financial Services has formed a joint venture with Singapore's company BlackRock Advisors. Jio Financial Services has formed a joint venture with BlackRock Advisors Singapore Pte. Ltd, which has been named Jio BlackRock Investment Advisers Private Limited. This joint venture company of Ambani and BlackRock will provide investment advisory services. Anil Ambani's good days are coming, preparations for entry into new business, brother Mukesh Ambani will be in front, competition with Tata and Mahindra too
Jio Financial has announced an investment of Rs 3 crore in BlackRock Advisors Singapore PPE Limited, through which the company will make an initial subscription of 30,00,000 equity shares, whose face value will be Rs 10 per share. Reliance informed the stock market about this deal and said that the purpose of this company is to take forward the primary business of investment advisory services. However, its business plan details have not been announced.
Mukesh Ambani will distribute home loans
Last month, during the AGM, Mukesh Ambani announced that his Jio Financial Services' non-banking financial company (NBFC) Jio Finance Limited is in the final stage of launching a home loan service. Its beta version has been launched. Apart from this, the company is working on a plan to introduce other offerings. Which includes services like loan against property secured by investment loan.
What is special about the Jio Fin BlackRock partnership?
Jio Financial Services said on Sunday that it has formed a joint venture with BlackRock Advisors Singapore Pte Ltd to do investment advisory business. Jio Financial Services told the stock market that Jio BlackRock Investment Advisors Private Limited was formed on 6 September. Its purpose is to pursue the primary business of investment advisory services. Regulatory approvals are to be taken for this partnership. Let us tell you that Jio Financial Services Limited, the financial services arm separated from Mukesh Ambani's Reliance Industries, had earlier announced a joint venture with BlackRock for asset management and wealth management.