Jio BlackRock Asset Management, a joint venture between Reliance Industries and BlackRock, has received regulatory approvals and made significant strides in India's mutual fund sector. In late June 2025, the Securities and Exchange Board of India (SEBI) granted Jio BlackRock permission to operate broking and clearing services, leading to a 5% rise in Jio Financial Services shares. Subsequently, in early July 2025, the firm raised approximately 17,800 crore rupees (about $2.1 billion) through its debut new fund offer (NFO), which included three debt funds—overnight, liquid, and money market schemes. This fundraising attracted over 67,000 retail investors and 90 institutional investors, propelling Jio BlackRock into the top 35 fund houses by assets under management in India. By mid-July, Jio BlackRock secured SEBI approval to launch four to five passive mutual fund schemes, including passive index funds, further expanding its product offerings. The company plans to introduce nearly a dozen equity and debt funds by the end of 2025, focusing on small-ticket investments and a low-cost strategy that bypasses distributors to reduce expenses. This approach is expected to disrupt the Indian mutual fund industry by enhancing investor access and affordability.