JM Financial Credit Solutions Ltd, a wholly-owned subsidiary of JM Financial, announced on Sunday that it has signed an investment agreement with Bajaj Allianz Life Insurance Company to sell 1.36 crore equity shares of JM Financial Home Loans Ltd (JMFHLL), representing a 2.1% stake, at ₹48 per share. The transaction, valued at ₹65.5 crore, is expected to be completed by August 31, 2025.
Following the sale, JM Financial Credit Solutions’ stake in JMFHLL will reduce from 8.98% to 6.88%, while JM Financial’s overall holding in the subsidiary, through its arms, will drop from 98.76% to 96.66%.
For FY 2024-25, JMFHLL posted a total income of ₹368.45 crore, contributing 8.27% to JM Financial’s consolidated revenue, with a net worth of ₹797.43 crore (8.24% of the group’s consolidated net worth).
Bajaj Allianz Life Insurance — a joint venture between Bajaj Finserv and Germany’s Allianz SE — is among India’s leading private life insurers. JM Financial confirmed that the transaction is not a related-party deal and is outside the scope of any scheme of arrangement.
Disclaimer: This article is for informational purposes only and is not investment, financial, or legal advice. Readers are advised to consult with a qualified professional before making any investment decisions.
