JM Financial unit to sell 2.1% stake in JMFHLL to Bajaj Allianz Life

JM Financial Credit Solutions Ltd (JMFCSL), a wholly owned arm of JM Financial Ltd, has announced plans to divest a 2.1 per cent stake in JM Financial Home Loans Ltd (JMFHLL) to Bajaj Allianz Life Insurance Company Ltd for a consideration of ₹65.50 crore.

 

Under an investment agreement signed on August 9, 2025, JMFCSL will offload 13,646,000 equity shares in JMFHLL at ₹48 per share, announced JM Financial through an exchange filing. The deal is scheduled for completion by August 31, 2025, during the second quarter (Q2) of the ongoing financial year.

 

Post-transaction, JMFCSL’s ownership in JMFHLL will reduce to 6.88 per cent from 8.98 per cent. Meanwhile, JM Financial’s overall stake in the housing finance subsidiary, held through its various subsidiaries, will decline from 98.76 per cent to 96.66 per cent.

 

In FY25, ending March 31, 2025, JMFHLL reported a total revenue of ₹368.45 crore, contributing 8.27 per cent to JM Financial’s consolidated income. The company’s net worth as of the same date stood at ₹797.43 crore, representing 8.24 per cent of the group’s consolidated net worth. 

 

In the exchange filing, JM Financial noted that the divestment aligns with its strategic objectives and adheres to market regulator Sebi's norms.

 

Allianz SE Stake Sale of Bajaj Allianz Life Insurance Company

 

In March this year, Allianz SE entered into binding share purchase agreements with Bajaj Finserv Ltd to divest its entire 26 per cent stake in its Indian insurance joint ventures, Bajaj Allianz Life Insurance Company Ltd (BALIC) and Bajaj Allianz General Insurance Company Ltd (BAGIC). The total consideration agreed upon was approximately ₹24,180 crore, with ₹10,400 crore allotted for the life insurance arm and ₹13,780 crore for the general insurance division.

 

This deal marked the end of the 24-year-long partnership between Allianz and the Bajaj Group. The Competition Commission of India (CCI) granted its approval for the transaction on May 20, 2025, paving the way for Bajaj Finserv, along with Bajaj Holdings & Investment Ltd and Jamnalal Sons Pvt Ltd, to increase their combined ownership in both insurance companies to 100 per cent.