Bank of America agreed to acquire a 49.9% stake in Jio Credit. The transaction is valued at approximately $1.9 billion. This deal values the Jio Financial Services non-bank lending subsidiary at ₹18,268 crore. The strategic joint venture marks a major push into India’s financial market.
The investment begins with an initial 26.5% equity stake purchase. Bank of America will acquire the remaining interest via warrants. These warrants are exercisable within an 18-month window.
The partnership leverages Jio’s digital distribution network and Bank of America’s global expertise. The collaboration aims to increase credit access for Indian consumers and businesses. Jio Credit will retain its current management team to lead operations.