Jio Credit to redraw lending strategy after BoFA’s ₹18,268 crore investment, expected by December
Jio Financial Services says Bank of America’s proposed investment in Jio Credit, subject to RBI and CCI approvals, could support a reset of products and distribution. The lender operates in 18 cities and sees potential to scale AUM from ₹30,000 crore to ₹1.5 lakh crore.
What happened
Jio Financial Services · Jio Credit expects Bank of America’s Rs 18,268 crore investment by December, after which it will redraw product and growth plans. The
Key facts
- Rs 18,268 crore capital infusion
- stake of less than 50%
- AUM of Rs 30,000 crore
- potential AUM runway of Rs 1.5 lakh crore
- 2 board seats each for BoFA and JFS
- 4 independent directors
- presence in 18 cities
- planned coverage limited to 20 cities
- four-fifths of target market opportunity
Why this matters
The transaction signals a potential strategic reset in Jio Credit’s products and distribution, making partnerships in merchant financing, embedded credit and city-level acquisition increasingly relevant.