Goldman Sachs Sells ₹62 Crore Worth of Jio Financial Shares in Block Deal
Jio Financial block deal: Goldman Sachs sells over 26.75 lakh shares worth Rs 62 crore
The Economic Times
Image: The Economic Times
Goldman Sachs sold over 26.75 lakh shares of Jio Financial Services for ₹62 crore to Morgan Stanley at ₹231.45 per share. Despite a slight increase in stock price, Jio Financial has underperformed over the past year, with a 12% decline compared to benchmark indices.
- 01Goldman Sachs sold 26.75 lakh shares of Jio Financial Services for ₹62 crore.
- 02Morgan Stanley was the buyer in this block deal, acquiring shares at ₹231.45 each.
- 03Jio Financial's stock has decreased by 12% over the past year, underperforming major indices.
- 04The company reported a 14% decline in net profit year-on-year for Q4FY26.
- 05Jio Financial's total revenue surged by 106% year-on-year in the same quarter.
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On Thursday, Goldman Sachs executed a block deal selling over 26.75 lakh shares of Jio Financial Services for ₹62 crore to Morgan Stanley, priced at ₹231.45 per share. The stock closed at ₹234.20 on the Bombay Stock Exchange (BSE), reflecting a 1.12% increase from the previous day. However, Jio Financial has seen a 12% decline in share value over the past year, lagging behind the Nifty and BSE Sensex, which fell nearly 4% and 7%, respectively. In its latest financial results for the quarter ending March 31, 2026, Jio Financial reported a 14% decrease in consolidated net profit to ₹272 crore, down from ₹316 crore year-on-year. Despite this, total revenue from operations surged by 106% to ₹1,019 crore compared to ₹493 crore in the same quarter last year. The company also noted a 1.2% sequential growth in profit after tax, with assets under management exceeding ₹25,000 crore in FY26.
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The decline in Jio Financial's stock may affect investor confidence and could influence market sentiment towards financial services in India.
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