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Bank of America to buy up to 49.9% of Jio Credit for up to ₹18,268 crore

The deal initially gives BofA a 26.5% stake, with additional ownership possible after warrant exercise.

Reported · Written up by our desk · Trade & Tariffs

Bank of America has signed a definitive agreement to acquire up to a 49.9% stake in Jio Financial Services' wholly owned NBFC lending unit, Jio Credit Limited, for up to ₹18,268 crore, according to LiveMint Markets.

The investment will be carried out through a preferential allotment of equity shares and warrants. BofA, via NB Holdings, will subscribe to 4.29 crore equity shares for cash worth up to ₹6,613 crore to take a 26.5% stake initially, and then subscribe to 7.56 crore warrants worth up to ₹11,655 crore.

Under the terms described in the filing, each warrant is convertible into one equity share within 18 months, which would raise BofA’s stake to as much as 49.9%. The transaction remains subject to regulatory and statutory approvals.

LiveMint Markets reports that Jio Credit had assets under management of ₹30,667 crore as of June 30, 2026, and that following the deal Jio Credit’s board will have equal representation from Jio Financial Services and BofA, with the existing management team continuing to run the NBFC’s operations.

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