Jio Financial Services, a Reliance Industries Limited (RIL) subsidiary, has received approval from the Securities and Exchange Board of India (SEBI) to operate as a stockbroker and clearing member through its joint venture with BlackRock, known as Jio BlackRock Broking. Following this regulatory nod, shares of Jio Financial Services rose by approximately 5%. Subsequently, Jio BlackRock Asset Management Company raised over 17,800 crore rupees (approximately $2.1 billion) through its debut new fund offer (NFO) across three debt funds, including overnight, liquid, and money market funds. The NFO attracted more than 67,000 retail investors and 90 institutional investors, propelling Jio BlackRock AMC into the top 35 fund houses by total assets under management (AUM).