Latest news with #JMFHLL
Time of India
6 days ago
- 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
6 days ago
- 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.
Economic Times
6 days ago
- Business
- Economic Times
JM Financial unit to sell 2.1 pc stake in home loans arm to Bajaj Allianz Life for Rs 65.5 cr
JM Financial Credit Solutions Ltd, a wholly-owned subsidiary of JM Financial, on Sunday said it will sell a 2.1 per cent stake in its home loans subsidiary to Bajaj Allianz Life Insurance Company for Rs 65.5 crore. ADVERTISEMENT In a regulatory filing on Sunday, JM Financial said JMFCSL has executed an investment agreement with Bajaj Allianz Life Insurance to sell 1.36 crore equity shares, representing a 2.10 per cent stake in JM Financial Home Loans Ltd at Rs 48 apiece. The total deal value will be Rs 65.50 crore. The transaction, scheduled for completion by August 31, will reduce JM Financial Credit Solutions' shareholding in the home loans subsidiary JMFHLL from 8.98 per cent to 6.88 per cent. Consequently, JM Financial's effective stake in JMFHLL, through its subsidiaries, will come down from 98.76 per cent to 96.66 per cent, it added. JMFHLL reported a total income of Rs 368.45 crore in the financial year ended March 31, 2025, contributing 8.27 per cent to JM Financial's consolidated income. Its net worth stood at Rs 797.43 crore, accounting for 8.24 per cent of the consolidated net worth. ADVERTISEMENT Bajaj Allianz Life Insurance, a joint venture between Bajaj Finserv and Germany's Allianz SE, is one of the country's leading private life insurers. The insurer does not belong to JM Financial's promoter or group companies. JM Financial said the stake sale does not constitute a related-party transaction and falls outside any scheme of arrangement. (You can now subscribe to our ETMarkets WhatsApp channel)
