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Asia

BofA to invest $1.9 billion for 49.9% stake in Jio Financial NBFC unit

Markets-Economic Times · 2h ago · 🇮🇳 India

BofA to invest $1.9 billion for 49.9% stake in Jio Financial NBFC unit

Bank of America is making headlines with its planned acquisition of a substantial 26.5 percent interest in Jio Credit. This deal, involving a preferential allotment of equity shares and warrants, could see its stake grow to 49.9 percent. The investment signifies Bank of America's commitment to strengthening its foothold in India's financial landscape, utilizing local knowledge for enhanced market development.

Read the full story at Markets-Economic Times →

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