Zerodha CEO Nithin Kamath recently downplayed Jio Financial Services (JFS)’s entry into the stockbroking industry as a threat to his company than the first-generation founders. Nithin tweeted that his company’s real competition is going to be more from first generation founders who are running, breathing and always thinking about broking. He added that this competition is not really going to be from incumbents because “This is not a business where having deep pockets means you have a large moat.”
https://x.com/Nithin0dha/status/1940346922725982349
Nithin’s tweets are about Jio BlackRock Broking Private Limited, which is a wholly-owned subsidiary of Jio BlackRock Investment Advisers Private Limited, receiving approval from the Securities and Exchange Board of India (SEBI) to operate as a stockbroker and clearing member. Jio BlackRock Investment Advisers is a 50:50 joint venture between Jio Financial Services (JFS) and BlackRock.
JFS statement on Jio BlackRock Broking Private Limited receiving approval from SEBI
The company said in a statement to the stock exchanges that the Securities and Exchange Board of India has granted a certificate of registration dated June 25, 2025, to Jio BlackRock Broking Private Limited (JBBPL) to act as a stockbroker/clearing member. JioBlackRock Investment Advisers, is a 50:50 joint venture between Jio Financial Services Limited and BlackRock Inc. Marc Pilgrem, Managing Director and CEO of Jio BlackRock Investment Advisers Private Limited, said that his company will be able to offer personalised advice to retail investors. Marc added that they will also bring an execution platform for self-directed investors with brokerage approval.
Jio Financial Services stocks perform well after SEBI’s clearance
Soon after SEBI’s go ahead to Jio BlackRock Broking Private Limited for stockbroking license, the market went bullish for the Jio Financial Services stocks and touched an intraday high of Rs 329.30, up 5.3 per cent from its previous close. Before these numbers, the Jio Financial Services shares were trading at Rs 327.20 apiece on the NSE, up 4.7 per cent.
