JM Financial to issue of 11.65 million warrants to former Citgroup chief

JM Financial Ltd. | Finance - Investment | BFSI | BSE: 523405 | NSE: JMFINANCIL

17 May 2013 Evaluate

JM Financial has received its board approval to issue of 11.65 million warrants to former Citgroup chief Vikram Pandit and Hari Aiyar at a price of Rs 19.50 per share on preferential basis.

Vikram Pandit and Hari Aiyar will pay about Rs 55 crore for the stake, besides investing about Rs 550 crore for expansion of the non-banking financial company’s (NBFC) lending business. Meanwhile, the board has also approved filing of application for a banking licence with the Reserve Bank of India (RBI). The application deadline expires on July 1, 2013.

Peers

Company Name	CMP
Bajaj Finserv	1839.60
TVS Holdings	12760.40
Cholamandalam Fin.	1511.75
Altius Telecom Infra	175.50
Kama Holdings	2250.50
View more..

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

Compliance Officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com	Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com	Telephone: +919860919463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com	Telephone: +919175899463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.