Bank Of America To Buy 49.9% Stake In Jio Credit For ₹18,268 Crore
Bank of America Corporation’s wholly owned subsidiary NB Holdings Corporation will acquire a 49.9% stake in Jio Credit, the lending arm of Jio Financial Services, for ₹18,268.22 crore. The investment will be made through a preferential allotment of equity shares and warrants, following a definitive agreement signed between the two companies. BofA investment strengthens Jio Credit’s lending plans…
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