Finsamudra Desk2mo ago

Bank of America to Buy Up to 49.9% of Jio Credit for ₹18,268 Crore

Bank of America and Jio Financial Services (JFSL) have signed a definitive agreement to form a strategic joint venture in Jio Credit Limited (JCL).

₹18,268 CRBANK OF AMERICA AND JIO Financial Services

Banking1 min read

Under the transaction, Bank of America will acquire up to a 49.9% stake in Jio Credit for a total investment of ₹18,268 crore ($1.9 billion).

The strategic breakdown of the ₹18,268 crore deal structure:

→ Immediate Capital Infusion: BofA initially acquires a 26.5% equity stake for ₹6,613 crore via preferential share allotment. → Warrant Conversion Option: The stake can expand to 49.9% through ₹11,655 crore in convertible warrants exercisable over 18 months. → Rapid Balance Sheet Scale: Jio Credit scaled its AUM to ₹30,667 crore in just two years of operations by leveraging Reliance's ecosystem. → Strategic Governance Balance: Equal 50:50 board representation, pairing Bank of America's global risk management models with Jio's digital distribution reach.

In Indian non-bank finance, combining deep domestic merchant distribution with global institutional capital creates a formidable credit engine.

Injecting ₹18,268 crore in fresh capital positions Jio Credit to aggressively expand consumer, merchant, and MSME lending across Indian markets.

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Finsamudra Desk14 Aug 2026, 1:02 pm IST

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