Mumbai: JioBlackRock Broking Private Limited has received final approval from the Securities and Exchange Board of India (SEBI) to begin operations as a brokerage firm, marking a significant milestone in the expansion of the JioBlackRock joint venture’s financial services portfolio.
JioBlackRock Broking is a wholly owned subsidiary of JioBlackRock Investment Advisers Private Limited, itself a 50:50 joint venture between Jio Financial Services Limited (JFSL) and global investment giant BlackRock Inc. With this regulatory green light, the venture is now poised to offer a comprehensive suite of investment services to Indian investors, including asset management, investment advisory, and now brokerage.
The new broking arm aims to deliver affordable, transparent, and technology-driven execution platforms tailored for both retail and self-directed investors. This move aligns with the joint venture’s broader mission to democratize access to capital markets and foster a shift in India’s financial landscape—from a nation of savers to a nation of investors.
Marc Pilgrem, Managing Director and CEO of JioBlackRock Investment Advisers, expressed enthusiasm about the approval, stating, “We are delighted to receive SEBI’s final approval for JioBlackRock Broking which moves us closer to contributing to India’s continued evolution. With brokerage capabilities, we can now support self-directed investors alongside offering personalized advice.”
Echoing the sentiment, Hitesh Sethia, CEO of Jio Financial Services, said, “These are exciting times for us. The broking license adds another dimension to our strategy of democratizing investments in India through easily accessible and digital-first solutions.”
Rachel Lord, Head of International at BlackRock, emphasized the strategic importance of the approval: “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.”
With SEBI’s approval, JioBlackRock is set to become a formidable player in India’s rapidly evolving financial ecosystem, offering integrated investment solutions backed by cutting-edge technology and global expertise.