Board of JM Financial oks fund raising up to Rs 850 cr and 40% FPIs limit

At meeting held on 19 December 2019

The Board of JM Financial at its meeting held on 19 December 2019 has approved the following -

1. Raise the funds by way of issue of equity shares and/or any other instruments or securities through qualified institutions placement, private placement/preferential issue/public issue/rights issue or through any other permissible modes and/or combination thereof, subject to such other applicable statutory/regulatory approvals, for an aggregate amount of up to Rs. 850 crore.

2. To increase the investments by the Foreign Portfolio Investors (FPIs) from 24% to 40% of the paid-up equity share capital of the Company

 

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