Bank of America Corporation (BofA) will acquire up to a 49.9% stake in Jio Financial Services Limited's (JFSL) wholly owned non-banking financial company (NBFC) lending subsidiary, Jio Credit Limited (JCL), for up to ₹18,268 crore, the companies announced today. The deal includes an initial 26.5% equity stake, subject to regulatory approvals, marking a significant investment in India's financial services sector.
The agreement between JFSL and BofA was finalized through a definitive contract, with the investment structured via a preferential allotment. Jio Credit, which had assets under management (AUM) of ₹30,667 crore as of June 30, 2026, will leverage this capital infusion to expand its lending operations. The transaction awaits necessary regulatory clearances before completion, according to livemint.com.
This investment underscores the growing interest of global financial institutions in India's expanding NBFC market. Comparable deals in the sector have highlighted the increasing role of foreign capital in supporting India's credit ecosystem. BofA's entry into Jio Credit aligns with broader trends of international banks deepening their footprint in Indian financial services, particularly in lending platforms with strong growth potential.
The acquisition deal is expected to close following regulatory approvals, with the investment amount of ₹18,268 crore reflecting BofA's commitment to the partnership. Jio Credit's reported AUM of ₹30,667 crore as of June 30, 2026, positions it as a significant player in the NBFC space, making this stake acquisition a notable transaction in the Indian financial market.