Jio BlackRock International AMC (IFSC) Pvt Ltd is already operating as a Fund Management Entity in the IFSC | Photo Credit: VIJAY SONEJI

Jio BlackRock Broking Pvt Ltd has applied to the International Financial Services Centres Authority (IFSCA) for permission to operate as a broker-dealer and investment advisor from GIFT City’s International Financial Services Centre (IFSC), as the Reliance-BlackRock venture expands its presence across financial services segments.

The company has proposed to establish operations from GIFT SEZ in Gandhinagar and undertake activities permitted under the IFSCA (Capital Market Intermediaries) Regulations, 2025, subject to regulatory approvals from the unified regulator, official sources said adding that the application from the company was still being processed. The company plans to initially operate from a 17 square meter office space at Pragya Accelerator-II in GIFT SEZ and employ eight personnel. The proposed operations will be funded by its head office.

The move comes as GIFT City’s broker-dealer ecosystem continues to expand, with more than 100 registered entities including SGX India Connect, Zerodha IFSC, Groww IFSC, Upstox Securities, Angel One, Motilal Oswal Finsec IFSC and Nuvama Capital Services IFSC, alongside offshore banking units of major lenders.

The segment forms a key part of GIFT City’s efforts to emerge as an international trading and investment hub. Under the IFSCA framework, broker-dealers form a key part of the capital markets ecosystem in GIFT City alongside investment advisers, investment bankers, custodians and other intermediaries. Broker-dealers can provide market access to investors and facilitate trading and investment activities within the IFSC framework.

consolidate presence

The move builds on the group’s existing presence in GIFT City. Jio BlackRock International AMC (IFSC) Pvt Ltd is already operating as a Fund Management Entity (FME) in the IFSC, offering investment management services from the international financial centre. The proposed broking and advisory operations would expand the joint venture’s footprint beyond asset management into capital market intermediation and wealth-related services. An questionnaire emailed to the company remained unanswered.

Jio BlackRock Broking is part of the broader 50:50 partnership between Jio Financial Services Ltd (JFSL) and global asset manager BlackRock. Through the joint venture, the partners already offer asset management services in India via Jio BlackRock Asset Management Pvt Ltd and have outlined plans to expand into wealth management and broking through Jio BlackRock Investment Advisers Pvt Ltd and Jio BlackRock Broking Pvt Ltd, respectively. Jio Financial Services, a Reserve Bank of India-registered Core Investment Company, operates businesses spanning lending, insurance broking, payments, leasing and digital financial platforms. The proposed IFSC operations are expected to strengthen the group’s presence in the international capital market and advisory services.

Published on June 23, 2026