JM Financial Subsidiary to Sell 2.10% Stake in JMFHLL to Bajaj Allianz Life Insurance for Rs. 65.50 Crore

JM Financial Limited announced that its wholly owned subsidiary, JM Financial Credit Solutions Limited (JMFCSL), has signed an investment agreement with Bajaj Allianz Life Insurance Company Limited (Bajaj Allianz). The agreement entails the sale of 1,36,46,000 equity shares of JM Financial Home Loans Limited (JMFHLL) by JMFCSL to Bajaj Allianz at a price of Rs. 48 per share, amounting to Rs. 65.50 crore. This sale will reduce JMFCSL's shareholding in JMFHLL from 8.98% to 6.88%, and the Company's effective shareholding in JMFHLL, through its subsidiaries, from 98.76% to 96.66%. Bajaj Allianz is one of India's leading private life insurers and is not related to the promoter/promoter group or the group companies. The expected date of completion of the sale is August 31, 2025.