JM Monetary Credit score Options Ltd, a wholly-owned subsidiary of JM Monetary, on Sunday stated it can promote a 2.1% stake in its house loans subsidiary to Bajaj Allianz Life Insurance coverage Firm for Rs 65.5 crore.
In a regulatory submitting on Sunday, JM Monetary stated JMFCSL has executed an funding settlement with Bajaj Allianz Life Insurance coverage to promote 1.36 crore fairness shares, representing a 2.10% stake in JM Monetary Residence Loans Ltd at Rs 48 apiece.
The entire deal worth will probably be Rs 65.50 crore.
The transaction, scheduled for completion by August 31, will cut back JM Monetary Credit score Options’ shareholding within the house loans subsidiary JMFHLL from 8.98% to six.88%.
Consequently, JM Monetary’s efficient stake in JMFHLL, via its subsidiaries, will come down from 98.76% to 96.66%, it added.
JMFHLL reported a complete earnings of Rs 368.45 crore within the monetary 12 months ended March 31, 2025, contributing 8.27% to JM Monetary’s consolidated earnings. Its web value stood at Rs 797.43 crore, accounting for 8.24% of the consolidated web value.
Bajaj Allianz Life Insurance coverage, a three way partnership between Bajaj Finserv and Germany’s Allianz SE, is without doubt one of the nation’s main non-public life insurers. The insurer doesn’t belong to JM Monetary’s promoter or group corporations.
JM Monetary stated the stake sale doesn’t represent a related-party transaction and falls exterior any scheme of association.
Edited by Jyoti Narayan
