by Benzinga -
Shares of Jio Financial Services Ltd (NS:JIOF) soared over 2% on Monday after the company said last week that it had received a letter from the Indian market regulator to set up a mutual fund house in the country.
What Happened: Jio Financial and American investment management firm BlackRock (NYSE:BLK) will act as co-sponsors to set up a mutual fund, the company said in a press release on Friday. It has received an in-principle approval from the Securities and Exchange Board of India (SEBI), Jio said in its statement.
“The final approval for registration will be granted by SEBI subject to fulfilment by the company... Continue reading the full story on Benzinga