BofA to pump ₹18,268 cr in Jio Credit; stake may go up to 49.9%
Bank of America (BofA) will invest up to ₹18,268 crore in Jio Credit Limited (JCL), acquiring a 26.5% equity stake. This stake could increase to 49.9% if BofA exercises its warrants. The investment highlights BofA's strategic move into India's financial services sector, with the transaction expected to close soon.