The briefing
Bank of America will invest up to $1.92 billion for a potential 49.9% stake in Jio Credit, Jio Financial Services’ non‑bank lending unit. The deal starts with a 26.5% stake via a preferential allotment and could rise upon exercising warrants, the companies said.
Original headline
Bank of America to invest for 49.9% stake in Jio Financial NBFC unit