SEBI bans JM Financial from managing debt public issues until March 31, 2025, due to NCD irregularities.

Securities and Exchange Board of India (SEBI) has banned JM Financial from managing debt public issues until March 31, 2025, due to alleged irregularities in a public issue of non-convertible debentures (NCDs). The ban does not affect its other activities, including equity issues. JM Financial has voluntarily stopped IPO financing and committed to improving its systems and processes to prevent any wrongdoing.