Bank of America Bets $1.9 Billion on India’s Credit Boom with Jio Financial Stake

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‼️ 🇮🇳 Bank of America Corporation and Jio Financial Services Limited (JFSL) have announced a definitive agreement for Bank of America to acquire up to a 49.9% stake in Jio Credit Limited (JCL), JFSL’s wholly-owned non-bank financial company lending subsidiary, through a preferential allotment of equity shares and warrants. The investment, including equity shares and warrants, is valued at approximately ₹18,268 crore (~$1.9 billion USD)
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