SEBI Approves JioBlackRock Broking To Launch Operations

SEBI Approves JioBlackRock Broking To Launch Operations

The firm aims to bring affordable, transparent and technology-driven execution capabilities to Indian investors

The Securities and Exchange Board of India (SEBI) has given its consent to the JioBlackRock Broking, a wholly owned subsidiary of Jio BlackRock Investment Advisers, to commence operations as a brokerage firm in India.

Its parent company, JioBlackRock Investment Advisers, is a 50:50 joint venture between Jio Financial Services Limited and BlackRock Inc

JioBlackRock aims to bring affordable, transparent, and technology-driven execution capabilities to Indian investors and the broking licence receipt enables the joint venture to offer holistic investment solutions.

Speaking on the development, Marc Pilgrem, Managing Director and CEO of Jio BlackRock Investment Advisers, said: "We are delighted to receive SEBI's final approval for JioBlackRock Broking. It 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 offer personalised advice to retail investors and with brokerage, bring an execution platform for self-directed investors."

Hitesh Sethia, Managing Director and CEO, Jio Financial Services Limited, expressed, "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, added, "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."

JioBlackRock Investment Advisers will combine BlackRock's global investment, asset allocation and technology expertise with JFSL's digital reach and scale to provide accessible and affordable investment solutions to Indians.