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Price when posted : NSE: Rs. 375.90
Thanks, I also read some articles about jiofs MF application and got to know the below. Jio Financial, which has a joint venture (JV) with Blackrock Financial Management for asset management, filed the application for MF licence on October 19, 2023. The applicants list is updated by Sebi at the end of every quarter. Going by the time taken by Sebi to grant MF licence, in the recent past, the Jio Financial MF may take at least a year to get operational. The licence is granted in two steps. Initially, applicants get an in-principle approval, allowing them to start setting up the AMC. The final approval comes after some months.
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Historically speaking 2 years is average time.However one of the joint applicant BLACKROCK already has been holding a MUTUAL FUND license in the past is my understanding.In that case it should be very quick RATHER THAN 2 YEARS.
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