Bank of America Corporation will invest up to Rs 18,268 crore for a stake of as much as 49.9% in Jio Credit Limited, the wholly-owned lending subsidiary of Jio Financial Services Limited, under a definitive agreement announced on Wednesday. The US bank will come in as a joint venture partner through a preferential allotment of equity shares and warrants in the non-banking financial company. The transaction gives Bank of America an initial equity interest of 26.5%, which rises to 49.9% if the warrants are exercised in full. It is subject to regulatory and statutory approvals.