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Bank of America to invest up to Rs 18,000 crore for 49.9% stake in Jio Credit
MUMBAI: Bank of America will acquire an initial 26.5% stake in Jio Credit, the wholly owned NBFC lending subsidiary of Jio Financial Services, with the stake potentially rising to 49.9% under a joint venture agreement that could involve an investment of up to Rs 18,268 crore ($1.9 billion). The deal places the post investment value of Jio Credit at Rs 36,600 crore.
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economictimes.indiatimes.com
Bank of America, Jio Financial ink JV for 49.9% Jio Credit stake
Jio Financial Services and Bank of America announced a significant joint venture agreement. The US banking major will acquire up to 49.9% in Jio Credit. This investment could…
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morningstar.com
Bank of America Enters into a Joint Venture Agreement with Jio Financial Services Limited to Acquire up to 49.9% in Jio Credit Limited
