Business · By NoorNews Editorial ·
Bank of America to acquire up to 49.9% stake in Jio Credit in Rs 18,268 crore deal
According to Kalinga TV, Bank of America Corporation has entered into a definitive agreement to acquire a stake of up to 49.9 percent in Jio Credit Limited. Jio Credit Limited operates as the wholly owned non-banking financial company (NBFC) lending subsidiary of Jio Financial Services Limited, a major player in the Indian financial sector.
The transaction, valued at approximately Rs 18,268 crore, involves a combination of equity shares and warrants. This strategic investment marks a significant development in the Indian fintech and lending landscape, signaling continued interest from global financial institutions in the country's rapidly evolving digital credit market.
While this announcement represents a major shift for Jio Financial Services, further details regarding the regulatory approvals and the timeline for the completion of the acquisition are expected to follow. Market analysts are closely watching the deal, as it could influence competitive dynamics within the domestic NBFC sector and provide Jio Credit with substantial capital and international expertise to expand its lending operations.
Truth Score
75/100
Likely True
Why this score
The story is reported by a regional Indian outlet regarding a specific corporate transaction involving an Indian financial services firm. While it is currently single-sourced and not yet reflected in major international financial wires, the details provided regarding the stake percentage and valuation are specific and consistent with standard corporate reporting.
Cross-checked against
No corroborating trusted sources found.
Original report: Kalinga TV