JM Financial has entered into a subscription and shareholders' agreement with JM Financial Credit Solutions (JMFCSL) a subsidiary of the company, and other investors for a primary equity infusion of upto Rs 875 crore in JMFCSL.
Pursuant to this agreement the company has agreed to subscribe up to 89,268 equity shares of JMFCSL including 19,837 partly paid up equity shares of the face value of Rs 10 each for an amount aggregating upto Rs 225 crore. The external financial investors will be subscribing to equity shares of JMFCSL for an amount upto Rs 650 crore.
JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients.
