JM Financial’s subsidiary company - JM Financial Products has executed the agreement(s) on October 20, 2016 to acquire equity shares representing up to 24.50% (on a fully diluted basis) of the total paid up equity share capital of India Home Loan (IHL) through secondary purchase and/or preferential allotment route.
The acquisition as above by JM Financial Products is with the intention to transfer the entire equity stake in IHL (after factoring the carrying cost for the period it remains in the books of JM Financial Products) to a Fund/Trust to be established and managed/sponsored by JM Financial Investment Managers, the asset management company for Alternative Assets business in the JM Financial Group.
IHL is engaged in the business of providing home loans to individuals and families in the affordable housing segment. The equity shares of IHL are currently traded on the Bombay Stock Exchange (BSE).
