Jio BlackRock Broking applies to IFSCA for operating as broker-dealer & investment advisor in GIFT City

Jio BlackRock International AMC (IFSC) Pvt Ltd currently functions as a Fund Management Entity within the IFSC
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VIJAY SONEJI

Jio BlackRock Broking Pvt Ltd has submitted an application to the International Financial Services Centres Authority (IFSCA) seeking authorization to act as a broker‑dealer and investment adviser operating from GIFT City’s IFSC, reflecting the Reliance‑BlackRock partnership’s broader push into various financial‑service areas.

The firm intends to set up its base in the GIFT SEZ, Gandhinagar, and carry out activities allowed under the IFSCA (Capital Market Intermediaries) Regulations, 2025, pending clearance from the single regulator. Sources indicate the application is under review. Initially, it will occupy a 17‑square‑meter office at Pragya Accelerator‑II within the SEZ, staffed by eight employees, with financing provided by its parent office.

This development follows the steady growth of GIFT City’s broker‑dealer community, which now exceeds 100 registered players such as SGX India Connect, Zerodha IFSC, Groww IFSC, Upstox Securities, Angel One, Motilal Oswal Finsec IFSC, Nuvama Capital Services IFSC, plus offshore banking arms of leading banks.

Broker‑dealers are central to GIFT City’s ambition to become a global trading and investment centre. Within the IFSCA structure, they sit alongside investment advisers, investment bankers, custodians and other market intermediaries, offering investors entry to the market and enabling trade and investment activities inside the IFSC.

strengthening the foothold

This step leverages the venture’s current GIFT City footprint. Jio BlackRock International AMC (IFSC) Pvt Ltd already serves as a Fund Management Entity (FME) in the IFSC, delivering investment‑management services from the global financial hub. Adding broking and advisory functions would extend the joint venture’s reach from pure asset management into capital‑market intermediation and wealth‑management services. An emailed questionnaire to the company went unanswered.

Jio BlackRock Broking stems from the 50:50 alliance between Jio Financial Services Ltd (JFSL) and BlackRock. The joint venture already provides asset‑management solutions in India through Jio BlackRock Asset Management Pvt Ltd and intends to branch into wealth management and broking via Jio BlackRock Investment Advisers Pvt Ltd and Jio BlackRock Broking Pvt Ltd, respectively. Jio Financial Services, a RBI‑registered Core Investment Company, runs businesses covering lending, insurance brokerage, payments, leasing and digital finance platforms. Launching IFSC operations should bolster the group’s footprint in the global capital‑market and advisory arena.

Published on June 23, 2026