JM Financial has acquired 71.2 lakh shares or 0.44 per cent stake in JSW Energy. Following this, the company’s stake in JSW Energy has increased to 5.16 per cent from 4.72 per cent earlier. Earlier in May this year, JM Financial had announced that Vikram Pandit, the former chief executive of Citigroup will acquire 50% stake in the company’s non-banking financial company (NBFC) and will buy 3 per cent stake in the parent company as well.
JM Financial is an integrated financial services group, offering a wide range of services to a significant clientele that includes corporations, financial institutions, high net-worth individuals and retail investors.
