Latest news with #JMFCSL
Time of India
10-08-2025
- Business
- Time of India
JM Financial stake sale: Company to sell 2.1% in home loans unit to Bajaj Allianz Life; Rs 65.5 crore deal to close by August 31
JM Financial Credit Solutions Ltd (JMFCSL), a wholly-owned subsidiary of JM Financial, will sell a 2.1% stake in its home loans subsidiary to Bajaj Allianz Life Insurance Company for Rs 65.5 crore. In a regulatory filing on Sunday, JM Financial said JMFCSL has signed an investment agreement with Bajaj Allianz Life to sell 1.36 crore equity shares of JM Financial Home Loans Ltd (JMFHLL) at Rs 48 apiece, representing a 2.10% stake, PTI reported. The transaction, expected to close by August 31, will lower JMFCSL's holding in JMFHLL from 8.98% to 6.88%. Consequently, JM Financial's effective stake in the home loans unit, through subsidiaries, will reduce from 98.76% to 96.66%. JMFHLL reported a total income of Rs 368.45 crore for the financial year ended March 31, 2025, contributing 8.27% to JM Financial's consolidated income. Its net worth stood at Rs 797.43 crore, accounting for 8.24% of the group's consolidated net worth. Bajaj Allianz Life Insurance, a joint venture between Bajaj Finserv and Germany's Allianz SE, is one of India's leading private life insurers. The company is not part of JM Financial's promoter group. JM Financial clarified that the stake sale is not a related-party transaction and does not form part of any scheme of arrangement. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
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Business Standard
10-08-2025
- Business
- Business Standard
JM Financial unit to sell 2.1% stake in JMFHLL to Bajaj Allianz Life
JM Financial Credit Solutions Ltd (JMFCSL), a wholly owned arm of JM Financial Ltd, has announced plans to divest a 2.1 per cent stake in JM Financial Home Loans Ltd (JMFHLL) to Bajaj Allianz Life Insurance Company Ltd for a consideration of ₹65.50 crore. Under an investment agreement signed on August 9, 2025, JMFCSL will offload 1,364,600 equity shares in JMFHLL at ₹48 per share, announced JM Financial through an exchange filing. The deal is scheduled for completion by August 31, 2025, during the second quarter (Q2) of the ongoing financial year. Post-transaction, JMFCSL's ownership in JMFHLL will reduce to 6.88 per cent from 8.98 per cent. Meanwhile, JM Financial's overall stake in the housing finance subsidiary, held through its various subsidiaries, will decline from 98.76 per cent to 96.66 per cent. In FY25, ending March 31, 2025, JMFHLL reported a total revenue of ₹368.45 crore, contributing 8.27 per cent to JM Financial's consolidated income. The company's net worth as of the same date stood at ₹797.43 crore, representing 8.24 per cent of the group's consolidated net worth. In the exchange filing, JM Financial noted that the divestment aligns with its strategic objectives and adheres to market regulator Sebi's norms. Allianz SE Stake Sale of Bajaj Allianz Life Insurance Company In March this year, Allianz SE entered into binding share purchase agreements with Bajaj Finserv Ltd to divest its entire 26 per cent stake in its Indian insurance joint ventures, Bajaj Allianz Life Insurance Company Ltd (BALIC) and Bajaj Allianz General Insurance Company Ltd (BAGIC). The total consideration agreed upon was approximately ₹24,180 crore, with ₹10,400 crore allotted for the life insurance arm and ₹13,780 crore for the general insurance division.
Time of India
01-07-2025
- Business
- Time of India
JM Financial acquires full control of NBFC arm from Moraine Fund
JM Financial on Tuesday said it has acquired the remaining 2.98 per cent stake in its material subsidiary JM Financial Credit Solutions Ltd (JMFCSL) from Moraine Master Fund LP, making the lending arm a wholly-owned subsidiary . The acquisition of 84,343 equity shares representing a 2.98 per cent of the equity share capital was completed on July 1, pursuant to a share purchase agreement signed on June 27 between the parties. The transaction, valued at around Rs 88.97 crore, was carried out through cash consideration, JM Financial said in a regulatory filing. Following the acquisition, JM Financial's stake in JMFCSL has risen from 97.02 per cent to 100 per cent, giving it complete control over the non-banking financial company. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If you have a mouse, play this game for 1 minute Navy Quest Undo The company said this move is expected to enhance its share in consolidated profits and improve capital allocation and profit distribution capabilities within the group. Incorporated in 1980, JMFCSL is registered with the Reserve Bank of India (RBI) as a systemically important non-deposit taking NBFC. It is classified as a Middle Layer NBFC under the RBI's Scale Based Regulations framework. Live Events The company reported a turnover of Rs 826.23 crore for the financial year ended March 2025.
