JM Financial is currently trading at Rs. 143.45, up by 1.20 points or 0.84% from its previous closing of Rs. 142.25 on the BSE.
The scrip opened at Rs. 143.50 and has touched a high and low of Rs. 148.95 and Rs. 139.15 respectively. So far 782954 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 148.95 on 04-Sep-2017 and a 52 week low of Rs. 52.70 on 21-Nov-2016.
Last one week high and low of the scrip stood at Rs. 148.95 and Rs. 124.20 respectively. The current market cap of the company is Rs. 11465.81 crore.
The promoters holding in the company stood at 65.15%, while Institutions and Non-Institutions held 17.10% and 17.75% respectively.
JM Financial’s subsidiary - JM Financial Products has executed the agreement to acquire equity shares/compulsorily convertible securities of Vendiman in two tranches. Post conversion, on a fully diluted basis, the said acquisition would result in the holding of up to 41.21%.
The proposed acquisition by JM Financial Products is with the intention to transfer the entire equity stake in Vendiman (after factoring the carrying cost for the period it remains with JM Financial Products) to a Fund/Trust that is sponsored/managed by JM Financial Investment Managers, the asset management company for Alternative Assets business in the JM Financial Group. This is subject to receipt of all the required approvals, if and to the extent required.
Vendiman is a leading vending machine operator, serving customers across India. The company is in the business of providing and managing vending machines and earns revenue primarily from the sale of snacks and beverage products and other related revenue streams.
JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients.
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