News Analysis

JM Financial acquires CCDs worth Rs 183.37 crore of JMFARC

Updated on 12 September 2019 12:50 PM

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.