JM Financial Ltd. Subscribes to Shares in Overseas Holdings Subsidiary
JM Financial Limited announced on March 25, 2026, that it has subscribed to 24,25,000 ordinary shares of USD 1 each in JM Financial Overseas Holdings Private Limited, a wholly owned subsidiary. The subscription was made at a premium of USD 0.48 per share, totaling a consideration of USD 3.59 million, equivalent to approximately Rs. 33.70 crore.JM Financial Overseas Holdings Private Limited, incorporated in October 2008, is registered with the Financial Services Commission in Mauritius. It operates as an investment holding company and had a turnover of Rs. 13.59 crore as of March 31, 2025.
The acquisition, considered a related party transaction due to the subsidiary's ownership, is intended to support the expansion of JM Financial Overseas Holdings Private Limited’s overseas businesses, including the incorporation of new subsidiaries. The transaction is expected to be completed within approximately three months.
Post-acquisition, JM Financial Limited will continue to hold 100% shareholding in JM Financial Overseas Holdings Private Limited. The USD to INR exchange rate used for the transaction was Rs. 93.91 per USD.
| Sr. No. | Particulars | Details |
|---|---|---|
| 1 | Name of the target entity | JM Financial Overseas Holdings Private Limited (' JMFOHPL ') is a wholly owned subsidiary of the Company. |
| 7 | Consideration | Cash Consideration |
| 8 | Cost of acquisition | USD 3.59 million (~Rs. 33.70 Crore) |
| 9 | Percentage of shareholding | The Company will continue to hold 100% shareholding in JMFOHPL . |
Note: USD to INR exchange rate considered for the subscription to ordinary shares of JMFOHPL is Rs. 93.91 per USD
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