Jio Financial Services shares in news as company forms joint venture for investment advisory services

Jio Financial Services shares in news as company forms joint venture for investment advisory services

Jio Financial Services Ltd (JFS) shares were in news on Monday morning after the company said it has formed a joint venture company with BlackRock Advisors Singapore to provide investment advisory services, subject to regulatory approval.

JFS said it will invest an amount of Rs 3 crore for initial subscription of 30,00,000 equity shares with face value of Rs 10 each.On September 7, the Ministry of Corporate Affairs sent the certificate of incorporation. Jio Financial said the said transaction does not fall under related party transactions, adding that the promoter, promoter group and group companies have no interest in the transaction.