JM Financial Limited consolidates wholesale debt syndication and distressed credit businesses under JM Financial Credit Solutions Limited, acquiring a 42.99% stake for Rs 1,282 crore.

JM Financial Limited's board approved plans to consolidate wholesale debt syndication and distressed credit businesses under JM Financial Credit Solutions Limited (JMFCSL). The company will acquire a 42.99% stake in JMFCSL for Rs 1,282 crore, and JMFCSL will also acquire JM Financial Asset Reconstruction Company (JMFARC) from JMFL for Rs 856 crore. This consolidation aims to leverage experience from different economic cycles and focus on expanding retail capital market and retail home financing businesses.

July 06, 2024
3 Articles