Mukesh Ambani, BlackRock Get SEBI Nod for Financial Services Venture; Reliance Shares Surge

Mukesh Ambani is gearing up to make a significant mark in India’s financial market. His company, Reliance Industries, has partnered with BlackRock, the world’s largest asset manager, to launch a range of financial services in the country.

Their joint venture has received approval from the Securities and Exchange Board of India (SEBI), paving the way for operations in asset management, wealth management, and other financial services. Industry experts believe this move could disrupt India’s financial sector, leveraging Reliance’s massive digital ecosystem and BlackRock’s global investment expertise.

Following the announcement, Reliance Industries’ share price zoomed upward, reflecting investor optimism over the group’s expansion into the lucrative financial services space.