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Jio Financial Services soars on signing binding agreement with Allianz to form 50:50 primary insurance JV

The JV will launch operations upon receipt of the necessary statutory and regulatory approvals

JIO Financial Services is currently trading at Rs. 245.00, up by 6.60 points or 2.77% from its previous closing of Rs. 238.40 on the BSE.

The scrip opened at Rs. 240.60 and has touched a high and low of Rs. 247.50 and Rs. 238.60 respectively. So far 917590 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 338.45 on 05-Aug-2025 and a 52 week low of Rs. 223.30 on 30-Mar-2026.

Last one week high and low of the scrip stood at Rs. 247.50 and Rs. 234.10 respectively. The current market cap of the company is Rs. 161909.03 crore.

The promoters holding in the company stood at 47.12%, while Institutions and Non-Institutions held 26.76% and 26.12% respectively.

Jio Financial Services (JFSL) and Allianz Group (Allianz), through its wholly-owned subsidiary -- Allianz Europe B.V., have entered into a binding agreement to form a 50:50 primary insurance joint venture (JV) - covering general insurance and health insurance - to serve the rapidly expanding Indian insurance sector. The binding agreement formalizes a partnership first announced in July 2025.

This partnership will bring together two highly trusted financial services brands, recognized for their commitment to customer-centricity, to deliver innovative and accessible protection solutions tailored to the specific needs of the people and businesses of India. Customers in India will benefit from the combination of JFSL’s extensive digital reach and deep understanding of the Indian market and Allianz’s high-quality insurance products and services that reflect a distinguished history of expertise and care for protecting what matters most to people.

The JV will launch operations upon receipt of the necessary statutory and regulatory approvals. JFSL and Allianz are also working towards a separate binding agreement for life insurance business in India.

Jio Financial Services (JFSL) operates its financial services business through its consumer facing subsidiaries namely Jio Finance (JFL), Jio Insurance Broking (JIBL) and Jio Payment Solutions (JPSL) and joint venture namely Jio Payments Bank (JPBL).