Jio Financial Services will sell up to 49.9% in its NBFC unit Jio Credit to Bank of America for up to Rs 18,268 crore. BofA initially acquires 26.5% via preferential allotment, with warrants allowing up to 49.9%. The JV aims to combine Jio's digital reach with BofA's global expertise.
Jio Financial, Bank of America form JV for Jio Credit
Source: Moneycontrol