Latest news with #JioBlackRockInvestmentAdvisers
India.com
7 hours ago
- Business
- India.com
Mukesh Ambani gets permission to start business of..., Reliance share zooms to...
Reliance gets huge business of... starts venture with world's largest asset manager, its name is..., Mukesh Ambani's earnings to go up by... The joint venture of Reliance Industries and BlackRock has got the green signal to start business in India after Market regulator SEBI approved Jio BlackRock Broking Private Limited to start work as a brokerage firm in India. What is BlackRock? This company is a fully owned subsidiary of Jio BlackRock Investment Advisors. After this news, shares of Jio Financial Services rose by about 5 percent to Rs 329.30 on BSE. The company aims to provide Indian investors the facility to buy and sell shares with the help of technology at a low price. Jio Financial Services Limited and BlackRock Inc. have a 50:50 stake in its parent company JioBlackRock Investment Advisers. Jio BlackRock Asset Management Private Limited and Jio BlackRock Investment Advisors have already received approval from SEBI to start business. Now after getting the brokerage license, Jio BlackRock will be able to provide all the investment solutions to the people of India. What will be the benefit? Mark Pilgram, Managing Director and CEO, Jio BlackRock Investment Advisers Private said, 'We are thrilled to receive SEBI's final approval for JioBlackRock Broking. This will enable us to help transform India from a nation of savers to a nation of investors. With JioBlackRock Investment Advisers, we will be able to provide personalized advice to small investors. Now, along with brokerage, we will also bring a platform for self-investors where they can easily buy and sell shares.' Hitesh Sethia, Managing Director and CEO, Jio Financial Services, said, 'This is a very exciting time for us. Jio BlackRock's asset management division is bringing new mutual funds to the market, and JioBlackRock Investment Advisers is also going to start its operations soon. In such a situation, getting approval for the brokerage company further strengthens our strategy, under which we want to make investing easy in India, so that everyone can easily invest digitally. ' How will Mutual Fund Business get affected? Rachel Lord, International Head at BlackRock, said, 'Jio BlackRock was launched to bring technology-enabled access to capital markets for millions of investors in India, and give them access to new ways to invest at a lower cost. This third approval from SEBI will complete the full range of services of our joint venture. Through these three companies, JioBlackRock will provide a complete investment service, helping Indian investors achieve their financial goals.' Last month, JioBlackRock Asset Management received approval from SEBI to start its mutual fund business.
Economic Times
9 hours ago
- Business
- Economic Times
Jio BlackRock gets Sebi nod for broking business
BlackRock had exited India in 2018 by selling its stake in DSP BlackRock Mutual Fund. Jio BlackRock Investment Advisers secures Sebi's nod for its stock broking venture. This marks the third approval for the Jio-BlackRock joint venture. The company aims to offer affordable and transparent execution capabilities. Marc Pilgrem highlights the ability to provide personalized advice and a self-directed investment platform. Jio BlackRock Asset Management had previously gained approval for its mutual fund business. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Jio BlackRock Investment Advisers has received approval from the Securities and Exchange Board of India (Sebi) to launch a stock broking business in the country. The firm is a 50:50 joint venture between Mukesh Ambani's Jio Financial Services and US asset manager BlackRock Jio BlackRock Broking aims to bring "affordable, transparent, and technology-driven execution capabilities" for Indian investors, said a is the third regulatory clearance granted to the joint venture between Jio and BlackRock, following approvals for its asset management and investment advisory businesses. With the broking licence, the venture completes its plan to offer investment advisory, mutual fund, and execution services in India."With Jio BlackRock Investment Advisers, we will be able to offer personalised advice to retail investors," said Marc Pilgrem, managing director and CEO of Jio BlackRock Investment Advisers, in the release. "Now with brokerage, we will also bring an execution platform for self-directed investors."In May, Jio BlackRock Asset Management had received Sebi approval to start the mutual fund business in India. Sid Swaminathan, a BlackRock veteran, was appointed as its managing director and chief executive July 2023, Jio and BlackRock had announced an agreement to create Jio BlackRock, a 50:50 joint venture, marking the US-based asset manger's re-entry into the Indian market after it exited in 2018. BlackRock manages assets worth $11.58 trillion globally as of March had exited India in 2018 by selling its stake in DSP BlackRock Mutual Fund.
Time of India
10 hours ago
- Business
- Time of India
Jio BlackRock gets Sebi nod for broking business
Mumbai: Jio BlackRock Investment Advisers has received approval from the Securities and Exchange Board of India (Sebi) to launch a stock broking business in the country. The firm is a 50:50 joint venture between Mukesh Ambani's Jio Financial Services and US asset manager BlackRock. Jio BlackRock Broking aims to bring "affordable, transparent, and technology-driven execution capabilities" for Indian investors, said a release. This is the third regulatory clearance granted to the joint venture between Jio and BlackRock, following approvals for its asset management and investment advisory businesses. With the broking licence, the venture completes its plan to offer investment advisory, mutual fund, and execution services in India. "With Jio BlackRock Investment Advisers, we will be able to offer personalised advice to retail investors," said Marc Pilgrem, managing director and CEO of Jio BlackRock Investment Advisers, in the release. "Now with brokerage, we will also bring an execution platform for self-directed investors." In May, Jio BlackRock Asset Management had received Sebi approval to start the mutual fund business in India. Sid Swaminathan, a BlackRock veteran, was appointed as its managing director and chief executive officer. Live Events In July 2023, Jio and BlackRock had announced an agreement to create Jio BlackRock, a 50:50 joint venture, marking the US-based asset manger's re-entry into the Indian market after it exited in 2018. BlackRock manages assets worth $11.58 trillion globally as of March 31. BlackRock had exited India in 2018 by selling its stake in DSP BlackRock Mutual Fund.
India Gazette
a day ago
- Business
- India Gazette
JioBlackRock Broking receives SEBI approval to launch brokerage business
Mumbai (Maharashtra) [India], June 27 (ANI): JioBlackRock Broking, a wholly owned subsidiary of Jio BlackRock Investment Advisers, has received regulatory approval from the Securities and Exchange Board of India (SEBI) to commence operations as a brokerage firm in India, a company statement said Friday. JioBlackRock Broking aims to bring affordable, transparent, and technology-driven execution capabilities for Indian investors. The broking entity's parent company, JioBlackRock Investment Advisers, is a 50:50 joint venture between Jio Financial Services Limited and BlackRock Inc. Along with the recent regulatory approvals received by Jio BlackRock Asset Management and Jio BlackRock Investment Advisers to commence operations, the receipt of the broking license enables the Jio BlackRock joint venture to offer holistic investment solutions in India. Marc Pilgrem, Managing Director and CEO of Jio BlackRock Investment Advisers, said: 'We are delighted to receive SEBI's final approval for JioBlackRock Broking, which moves us closer to contributing to India's continued evolution from a nation of savers to a nation of investors. With JioBlackRock Investment Advisers, we will be able to offer personalised advice to retail investors. Now with brokerage, we will also bring an execution platform for self-directed investors.' Hitesh Sethia, Managing Director and CEO, Jio Financial Services Limited, said: 'These are exciting times for us. Even as JioBlackRock's Asset Management arm introduces innovative mutual funds to the market, and JioBlackRock Investment Advisers prepares to launch operations, the approval for the broking entity adds another dimension to our strategy of democratising investments in India, through easily accessible and digital-first solutions.' Rachel Lord, Head of International at BlackRock, said: 'JioBlackRock was founded to provide tech-enabled access to capital markets and affordable, innovative investment solutions to millions of investors in India. This third approval from SEBI completes the range of offerings of our joint venture. Through these three entities, JioBlackRock will provide a full suite of investment services, enabling Indian investors to work towards their financial goals.' Jio BlackRock Investment Advisers Private Limited (JioBlackRock Investment Advisers) is a 50:50 joint venture between Jio Financial Services Limited (JFSL) and BlackRock Inc. (BlackRock) and received regulatory approval from SEBI and BSE to commence operations as an Investment Adviser in India. JioBlackRock Investment Advisers will combine BlackRock's global investment, asset allocation and technology expertise with JFSL's digital reach and scale to uniquely provide accessible, affordable, and personalised investment solutions to the people of India. (ANI)
Hans India
a day ago
- Business
- Hans India
Jio BlackRock Gets SEBI Approval to Start Brokerage Business in India
Jio BlackRock Broking Pvt Ltd got approval from SEBI to start working as a brokerage firm in India. Jio BlackRock Investment Advisers owns the company fully. Following the news, Jio Financial Services shares increased by 4% to reach Rs 327.75 on the stock market. The company wants to give Indian investors cheap, clear, and tech-based services to buy and sell stocks. Jio BlackRock Investment Advisers is owned half by Jio Financial Services and half by BlackRock Inc. Recently, Jio BlackRock Asset Management and Jio BlackRock Investment Advisers got permission to start work. Now with the brokerage license, Jio BlackRock can give full investment services to people in India. Marc Pilgrem, the CEO of Jio BlackRock Investment Advisers, said they are happy to get SEBI's approval. This will help India change from a country where people save money to a country where people invest money. They will give personal advice to small investors. Now with brokerage, they will also give a platform for investors who want to trade by themselves.
