In addition, the board has also given its nod for the “acquisition of 71.79% stake in JM Financial Asset Reconstruction Co. by JMFCSL from JMFL for a consideration of Rs 856 crore”.
After the transaction, the stake held by JMFL in JMFCSL will increase from 46.68% to 89.67%. Also, the stake held by JMFCSL in JMFARC will increase from 9.98% to 81.77%.
Read More: JM Financial Clears Plan To Consolidate Debt And Distressed Credit
