Goldman Sachs has sold 26.8 lakh shares of Jio Financial Services in a ₹62 crore block deal, selling at ₹231.45 per share—about a 1.1% discount to the previous day’s price. Morgan Stanley Asia Singapore Pte bought the entire quantity. Despite the large divestment, JFS shares closed up 1.1% at ₹234.20 on the BSE. The move adds to a period of rapid expansion, even as critics question differentiation amid profit decline in Q4 FY26.
Jio Financial Services’ board has approved and signed a joint venture agreement with Allianz for a 50:50 domestic general insurance company. The JV, Allianz Jio Reinsurance Ltd, was incorporated in September 2025 and will begin operations after regulatory clearances. JFS says the venture will combine its digital reach with Allianz’s product expertise, following a July 2025 collaboration announcement and a ₹147.5 crore infusion.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Jio Financial Services says it is expanding its lending book through property and asset-backed corporate loans, keeping its focus on secured segments for now. The company is prioritising balance sheet strength before moving into unsecured credit. Alongside lending growth, its payments bank and payment aggregator businesses are also expanding as it targets a broader full-service financial model.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
