Jio Financial Services acquires Jio Payments Bank from SBI

Jio Financial Services (BSE: JIOFIN) announced today that it has acquired 790.8 million equity shares of Jio Payments Bank Limited (JPBL) from State Bank of India (SBI). The transaction, completed at approximately 3.27 p.m. on June 18, 2025, involved a consideration of INR 104.54 crore, aligning with approvals from the Reserve Bank of India granted on June 4, 2025. As a result of this acquisition, Jio Payments Bank Limited is now a wholly owned subsidiary of Jio Financial Services. The acquisition was made public in a preliminary disclosure on March 4, 2025.