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JM Financial to raise Rs 50 crore via NCDs

JM Financial is planning to raise up to Rs 50 crore by issuing secured redeemable non-convertible debentures (NCDs) on private placement basis. The company’s credit committee in its meeting, scheduled to be held on June 1, 2017, will consider the same.

JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients. The company has reported a rise of 32.63% in its consolidated net profit after tax, share of minority interest and share in profit of associates at Rs 150.85 crore for the quarter ended March 31, 2017 as compared to Rs 113.74 crore for the corresponding quarter in the FY16.

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