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JM Financial acquires CCDs worth Rs 183.37 crore of JMFARC

12 Sep 2019 Evaluate

JM Financial has acquired 49,16,104 Compulsorily Convertible Debentures (CCDs) (convertible into 4,91,61,040 equity shares as per the terms of the issue) of face value of Rs 373 each for cash aggregating Rs 183.37 crore of JM Financial Asset Reconstruction Company (JMFARC), a material subsidiary of the company.

The aforesaid CCDs have been allotted by JMFARC on September 11, 2019 to the company consequent upon its subscription in the Rights Offer made by JMFARC.

JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients.

Peers
Company Name CMP
Bajaj Finserv 1741.00
TVS Holdings 11754.85
Cholamandalam Fin. 1400.55
Altius Telecom Infra 173.02
Kama Holdings 2226.00
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