JMJ Fintech: Board Approves ₹7 Cr NCD Issue, Director Appointments
JMJ Fintech Limited's Board of Directors met on October 22, 2026, approving several key proposals. These include increasing the loan limit to JMJ Finance Limited from ₹10 Crores to ₹15 Crores, subject to shareholder approval. The board also approved the appointment of Mrs. Shiny Joju as Executive Director and the re-appointment/re-designation of Mr. Johny Madathumpady Lonappan and Mr. Joju Madathumpady Johny to new directorial roles. Furthermore, the company will issue Secured, Unlisted, Unrated, Redeemable Non-Convertible Debentures (NCDs) aggregating up to ₹7 Crores on a private placement basis. The board approved the appointment of IDBI Trusteeship Services Limited as Debenture Trustee and fixed October 23, 2026, as the cut-off date for postal ballot voting.
Key Highlights
- Board approved increasing loan limit to related party JMJ Finance.
- Approved appointment and re-designation of three directors.
- Approved issuance of NCDs worth ₹7 Crores via private placement.
- Shareholder approval via postal ballot is required for key decisions.
- Fixed October 23, 2026, as cut-off date for postal ballot.
Price Impact
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