Jio Financial to fully acquire Jio Payments Bank from SBI for ₹104.54 crore
Sandip Raj Gupta
04/Mar/2025

Key Takeaways:
- Jio Financial to acquire SBI’s 17.83% stake in Jio Payments Bank for ₹104.54 crore.
- Post-acquisition, Jio Payments Bank will become a wholly owned subsidiary of Jio Financial.
- The transaction is subject to RBI approval and expected to be completed within 45 days post-approval.
Jio Financial Services Limited (JFS) has announced its decision to acquire the remaining 17.83% stake in Jio Payments Bank Limited (JPBL) from State Bank of India (SBI) for ₹104.54 crore. This move will make JPBL a wholly owned subsidiary of JFS, strengthening its position in the digital banking and financial services space.
Transaction Details
- Currently, JFS holds 82.17% of Jio Payments Bank.
- It will acquire an additional 7,90,80,000 equity shares from SBI.
- The total acquisition cost is ₹104.54 crore.
- Post-acquisition, Jio Payments Bank will become a fully owned subsidiary of JFS.
- The deal is subject to RBI approval and is expected to be completed within 45 days after regulatory clearance.
What is Jio Payments Bank?
Jio Payments Bank was launched as a joint venture between Jio Financial and SBI, offering digital banking services such as savings accounts, payment solutions, and financial transactions through its tech-driven platform. It is one of the key players in India's digital banking ecosystem, catering to a vast customer base through its mobile-first banking model.
Why This Acquisition Matters
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Strengthening Jio Financial’s Digital Banking Play
- With full ownership, JFS can integrate Jio Payments Bank more effectively into its financial ecosystem, offering a seamless experience across payments, lending, and investment services.
- It aligns with Reliance’s broader fintech vision, integrating banking solutions with Jio’s extensive digital reach.
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Independence from SBI
- As SBI exits its stake, Jio Financial gains complete strategic and operational control over Jio Payments Bank.
- This could allow faster innovation and expansion in the fintech space.
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Potential for Future Expansion
- JFS may explore new financial services, including digital lending, insurance, and wealth management, through Jio Payments Bank.
- With a strong customer base from Jio’s telecom and retail ecosystem, the bank can scale its services rapidly.
Impact on Jio Financial Services
- Investor Confidence: This move reinforces Jio Financial’s commitment to expanding its digital banking presence, potentially driving positive investor sentiment.
- Regulatory Considerations: The acquisition is contingent on RBI’s approval, which is standard for banking sector transactions.
- Future Growth: JFS may use Jio Payments Bank as a foundation to expand its footprint in fintech and digital financial services, competing with established players like Paytm Payments Bank and Airtel Payments Bank.
The acquisition of Jio Payments Bank’s remaining stake from SBI is a significant step in Jio Financial’s journey to becoming a dominant fintech player in India. With full ownership, JFS can expand its digital banking services, introduce new financial products, and strengthen its competitive position in India's rapidly evolving fintech landscape.
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