New Delhi, Oct. 29 -- Jio Financial Services and BlackRock Inc. on Tuesday announced the incorporation of two joint venture companies to undertake the mutual fund business. The two companies incorporated are Jio BlackRock Asset Management Private Limited and Jio BlackRock Trustee Private Limited.

"...two companies, "Jio BlackRock Asset Management Private Limited" and "Jio BlackRock Trustee Private Limited" have been incorporated on October 28, 2024, to carry on, inter alia, the primary business of mutual fund, subject to regulatory approvals," Jio Financial Services said in a regulatory filing.

Jio Financial Services has invested Rs.82.50 crore for 8.25 crore equity shares, or 50% stake, in Jio BlackRock Asset Management and Rs.40 lakh ...