JM Financial Ltd. to Acquire 2.98% Stake in JM Financial Credit Solutions Ltd. for Rs. 88.97 Crore

JM Financial Ltd. has entered into a Share Purchase Agreement with Moraine Master Fund LP to acquire 84,343 equity shares, representing 2.98% of the equity share capital of JM Financial Credit Solutions Ltd. Upon completion, JM Financial Credit Solutions Ltd. will become a wholly owned subsidiary of JM Financial Ltd. The acquisition is expected to increase the Company's share in the consolidated profits and enhance control over JM Financial Credit Solutions Ltd. The cost of acquisition is approximately Rs. 88.97 Crore. JM Financial Credit Solutions Ltd. is a Systemically Important Non-Deposit taking NBFC, classified as a Middle Layer NBFC by the RBI. It was incorporated in May 1980 and has a turnover of Rs. 826.23 Crore in FY 2024-25.