Jio Financial Services shares jump 5% as Jio BlackRock Broking gets SEBI's approval to launch broking business

“Please note that the Securities and Exchange Board of India has granted a certificate of registration dated June 25, 2025, to Jio BlackRock Broking Private Limited (JBBPL) to act as a stockbroker/clearing member,” the company said in a statement to the stock exchanges.

The broking entity’s parent company, JioBlackRock Investment Advisers, is a 50:50 joint venture between Jio Financial Services Limited and BlackRock Inc.

At the time of writing this, shares of Jio Financial Services were trading at ₹327.20 apiece on the National Stock Exchange (NSE), up 4.7%. The stock touched an intraday high of ₹329.30, up 5.3% from its previous close.

Along with the recent regulatory approvals received by Jio BlackRock Asset Management Private Limited and JioBlackRock Investment Advisers to commence operations, the receipt of the broking licence enables the JioBlackRock joint venture to offer holistic investment solutions to the people of India, the company said in its press release.

Marc Pilgrem, Managing Director and CEO of Jio BlackRock Investment Advisers Private Limited, said, “With JioBlackRock Investment Advisers, we will be able to offer personalised advice to retail investors. Now with brokerage, we will also bring an execution platform for self-directed investors."

JioBlackRock Investment Advisers will combine BlackRock’s global investment, asset allocation and technology expertise with JFSL's digital reach and scale to uniquely provide accessible, affordable, and personalized investment solutions to the people of India.

Last week, Jio Financial Services acquired 7.91 crore equity shares of Jio Payments Bank Ltd (JPBL) from the State Bank of India (SBI) for ₹104.54 crore. With the completion of this deal, JPBL became a fully owned subsidiary of Jio Financial Services (JFS).

The State Bank of India (SBI) divested its entire stake of 7,90,80,000 equity shares in JPBL for ₹13.21 per equity share to JFS, bringing its stake down from 17.8% to nil, subject to all regulatory approvals.

Jio Financial Services' consolidated net profit rose 1.8% to ₹316.11 crore during the March quarter (Q4 FY25). The company had posted a consolidated net profit of ₹310.63 crore in the same quarter of the previous 2023-24 fiscal year.

Total income increased to ₹518 crore from ₹418 crore in the fourth quarter of the previous fiscal year, a year-on-year (YoY) growth of 24%.

Total expenses also witnessed a YoY increase at ₹168 crore as compared to ₹103 crore logged in the same quarter a year ago.

For the full 2024-25, the company's net profit also improved marginally to ₹1,612.59 crore, as against ₹1,604.55 crore in 2023-24.