Bank of America will acquire up to a 49.9% stake in Jio Credit Limited, a non-banking financial company under Mukesh Ambani’s umbrella, in a deal valued at up to 18,268 crore rupees, or roughly $1.9 billion. The US banking giant will initially take a 26.5% stake in JCL, with the option to increase its participation through warrant exercises, pending regulatory approvals. The transaction marks one of the largest foreign investments ever made in India’s non-banking financial sector. The joint venture will feature equal board representation from both parties. As of March 31, 2025, JCL’s assets under management stood at 10,094 crore rupees.
Source: Read the original article
