This is further to our disclosure dated March 04, 2025. The Company has today at around 3.27 p.m. acquired 7,90,80,000 equity shares of Jio Payments Bank Limited ( JPBL ) from State Bank of India for an aggregate consideration of Rs. 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.
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Jio Financial Services has acquired 7,90,80,000 equity shares (7.908 crore shares) of Jio Payments Bank Limited (JPBL) from State Bank of India for a total consideration of Rs. 104.54 crore. The deal was completed with RBI approval received on June 4, 2025. Following this acquisition, JPBL has become a wholly owned subsidiary of Jio Financial Services. This announcement is an update to the company's earlier disclosure made on March 4, 2025. The buyout effectively ends SBI's stake in the payments bank joint venture.
This makes Jio Payments Bank a fully owned subsidiary, giving Jio Financial complete strategic control over the payments banking business. For shareholders, it consolidates the fintech/payments business within the company, which could support better integration and future monetisation of the payments platform.