Jio BlackRock Asset Management on Monday announced that it has raised Rs 17,800 crore ($2.1 billion) across three cash or debt mutual fund schemes, a Reuters report stated. This is the company’s first offering since getting the license in May.
The three-day maiden offer attracted investments from over 90 institutional investors and from more than 67,000 retail investors, Jio BlackRock said in a statement, as quoted by the Reuters report.
The three-day NFO, held from June 30 to July 2, saw participation from institutional and individual investors. This shows strong confidence in the company’s data-driven and digital-first investment strategy, it said.
“The overwhelming response to our first NFO from institutional and retail investors is a powerful endorsement of JioBlackRock Asset Management’s innovative investment philosophy, risk management capabilities and digital-first approach,” said Sid Swaminathan, Managing Director and CEO, JioBlackRock Asset Management.
Earlier last month, Jio BlackRock Asset Management had announced the appointment of its executive leadership team to drive operations. The mutual fund company had already announced the appointment of Sid Swaminathan as managing director and CEO a month before that.
Jio BlackRock Broking gets SEBI nod to act as broker
Earlier in June, the Jio BlackRock Broking (JBBPL) had received the final approval from the Securities and Exchange Board of India (SEBI) to act as a stockbroker and clearing member. JioBlackRock is a 50:50 joint venture between Mukesh Ambani-led Reliance Industries owned Jio Financial Services and BlackRock Inc.
With this regulatory green light, Jio BlackRock Broking is now ready to launch its operations in India’s stock broking and clearing segment. The approval had followed earlier disclosures by the company on April 15, 2024, and January 21, 2025, where it had outlined plans to expand into the broking space.