Acquisitions7 Mar 2025, 04:01 am
JM Financial Ltd. to Acquire 42.99% Shareholding in JM Financial Credit Solutions Ltd. for Rs. 1282 Crore
AI Summary
JM Financial Ltd. has received approvals from the Reserve Bank of India and the Competition Commission of India for the acquisition of 42.99% shareholding in JM Financial Credit Solutions Ltd. (JMFCSL) from INH Mauritius for approximately Rs. 1282 Crore. Post-acquisition, the Company's shareholding in JMFCSL will increase to 89.67%. The Company also approved the sale of its 71.79% equity shareholding in JM Financial Asset Reconstruction Company Ltd. to JMFCSL for a cash consideration of approximately Rs. 856 Crore. This sale will result in JMFCSL becoming the direct subsidiary of the Company.
Key Highlights
- JM Financial Ltd. to acquire 42.99% shareholding in JM Financial Credit Solutions Ltd. for approximately Rs. 1282 Crore
- Reserve Bank of India and Competition Commission of India approvals received for the acquisition
- Post-acquisition, the Company's shareholding in JMFCSL will increase to 89.67%
- Company also approved the sale of its 71.79% equity shareholding in JM Financial Asset Reconstruction Company Ltd. to JMFCSL for approximately Rs. 856 Crore
- Sale will result in JMFCSL becoming the direct subsidiary of the Company