Private Equity

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JM Financial Credit to sell 2.1% stake in JM Financial Home Loans to Bajaj Allianz Life for Rs.65.5

BSE Announcement   Business Line   JM Financial Home Loans  

Mumbai-based JM Financial Credit Solutions, a subsidiary of publicly listed JM Financial, is to sell a 2.1% stake in JM Financial Home Loans to Pune-based Bajaj Allianz Life Insurance Company for INR 65.5 crore, at INR 48 per share.Post the stake sale, JM Financial Credit’s stake in the home loan unit will reduce to 6.88% from 8.98%, while that of JM Financial, through its subsidiaries, will reduce to 96.66% from 98.76%.JM Financial Home Loans reported an income of INR 368.5 crore in FY25, contributing 8.3% to JM Financial’s consolidated income. The home loan arm’s net worth at the end of the year was INR 797.4 crore.