Saturday , October 23 2021

JM Financial rises on offloading 12% CCDs of JMFARC

JM Financial is currently trading at Rs. 92.15, up by 0.55 points or 0.60% from its previous closing of Rs. 91.60 on the BSE.

The scrip opened at Rs. 91.30 and has touched a high and low of Rs. 93.00 and Rs. 90.65 respectively. So far 146902 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 117.55 on 16-Jul-2021 and a 52 week low of Rs. 72.90 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 93.00 and Rs. 88.50 respectively. The current market cap of the company is Rs. 8806.21 crore.

The promoters holding in the company stood at 54.75%, while Institutions and Non-Institutions held 33.55% and 11.71% respectively.

JM Financial has sold and transferred 39,79,272, 12% Compulsorily Convertible Debentures (CCDs) (convertible into 3,97,92,720 equity shares as per the terms of the issue) of face value of Rs 373 each of JM Financial Asset Reconstruction company (JMFARC), to JM Financial Credit Solutions (JMFCSL).

JMFARC and JMFCSL, both are material subsidiaries of the company. Post conversion of the CCDs into equity shares, the holding of the company in JMFARC shall stand reduced from 63.61% to 53.62%.

JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients.

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