JM Financial to acquire a 42.99% stake in JM Financial Credit Solutions

JM Financial is a financial services group based in Mumbai, India, with branches all over the country. Even though the group’s domestic operations in India account for the majority of its business, it also maintains branches abroad in Ebene, Singapore, New Jersey, and Dubai.

JMFL plans to purchase 42.99% of JMFCSL

The Competition Commission of India (CCI) has approved the purchase of 42.99% of JM Financial Credit Solutions Limited (JMFCSL)’s total paid-up share capital by JM Financial Limited (JMFL) and 71.79% of JM Financial Asset Reconstruction Company Limited’s total paid-up share capital by JM Financial Credit Solutions Limited.

More about JMFL

The JM Financial Group (JMFL Group) provides diversified and integrated financial services through its subsidiaries and JMFL as the operating cum holding company. The main business activities of JMFL are investment banking, managing private equity funds, operating private wealth businesses, and providing portfolio management services.

Details about JMFCSL

JMFCSL, a division of JMFL, is a systemically important non-deposit-taking non-banking finance company (NBFC) that is registered with the Reserve Bank of India (RBI) as a middle layer NBFC. It is categorized as an investment and credit company. At the moment, it is involved in wholesale lending activities, primarily concentrating on financing for corporations and real estate.

Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 permits JMFARC, a JMFL subsidiary, to register as an asset reconstruction company with the RBI. Its operations involve purchasing distressed assets from banks and other financial institutions and putting the acquired assets’ resolution plans into action.

Stock of JM Financial Ltd. increases by 2%

The stock of JM Financial Ltd. is currently trading at Rs. 143.86 per share, up nearly 2% intraday today. As of right now, the share price of JM Financial Ltd reached its highest trading point of the day at Rs. 146.45.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.