Jio Takes the Reins: SBI Sells Stake in Payments Bank, Jio Financial Seizes Full Control

Unknown Apr 02, 2026 3 Views

Jio Financial Services (JFS) said it will buy State Bank of India's (SBI) complete stake in Jio Payments Bank Limited (JPBL) for Rs 104.54 crore. The deal entails 7.9 crore equity shares at Rs 13.22 per share. Already owning 82.17% of JPBL, JFS will convert it into a wholly-owned subsidiary a...

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