Page 3 - Jm Financial

RBI lifts lending restrictions from JM Financial's non-banking unit

JM Financial's non-banking unit can now immediately offer loans against shares and debentures, according to a brief statement from the financial services group

RBI lifts restrictions on JM Financial Products on financing against shares

JM Financial on Friday said the Reserve Bank of India has lifted restrictions imposed on its subsidiary JM Financial Products Ltd with regard to financing against shares and debentures. "We wish to inform you that the RBI, vide its letter dated October 18, 2024, has lifted the restrictions imposed by it on the company (JM Financial Products Ltd) through its order dated March 5, 2024," JM Financial said in a regulatory filing. With this communication, the company is permitted to provide, with immediate effect, the financing against shares and debentures in compliance with all applicable laws and regulations, it added. On March 5, the RBI barred JM Financial Products Ltd (JMFPL) from giving loans against shares and debentures, including sanction and disbursal of loans for initial public offering (IPO) of shares with immediate effect.

Indians eyeing offshore firms to gain access: JM Financial MD & CEO

Healthcare, pharma, tech to drive M&As in coming quarters

JM Financial reiterates 'Buy' on Nykaa; ups target price with 15% upside

Based on expectations of the BPC company delivering robust numbers during the festive period this year, JM Financial has raised the target price on Nykaa with an upside of 15 per cent

JM Financial initiates coverage on real estate; bets on THESE 5 stocks

JM Financial on real estate stocks: Driven by an exceptional performance in financial year 2023-24 (FY24), brokerage firm JM Financial has initiated coverage of the real estate sector

JM Financial Private Equity invests Rs 40 crore in spice brand Zoff

Zoff, founded by brothers Akash Agrawal and Ashish Agrawal, has achieved a 40 per cent compound annual growth rate (CAGR) over the past four years, leveraging e-commerce platforms, they said

JM Financial PE invests Rs 40 crore in Zoff to boost brand building efforts

JM Financial Private Equity through its arm JM Financial India Growth Fund III on Wednesday invested Rs 40 crore in Asquare Foods and Beverages, the parent company of the direct-to-consumer spice brand Zoff. The fresh capital infusion from JM Financial Private Equity will be used to strengthen brand-building efforts, enhance the existing production capacities, and bolster the company's offline distribution network, the company said statement. "We strongly believe that Zoff can emerge as one of the leading spices brands in the future," Darius Pandole, Managing Director & CEO of Private Equity & Equity AIFs at JM Financial said. Zoff was founded by brothers Akash and Ashish Agrawal. JM Financial Private Equity, part of the JM Financial Group, manages several funds that focus on providing growth capital to high-potential Indian companies. **** Servotech to install 12 EV charging stations in Kerala Servotech Power Systems Ltd on Wednesday said it will install 12 EV charging ...

Sebi fines JM Financial Asset Management, former CEO for flouting rules

Capital markets watchdog Sebi has imposed penalty totalling Rs 2 crore on seven entities, including JM Financial Asset Management Ltd, its trustee and its former CEO Bhanu Katoch, for flouting regulatory norms. The fine needs to be paid within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. Individually, a fine of Rs 25 lakh was levied on JM Financial Asset Management, Rs 10 lakh on JM Financial Trustee Company, Rs 1.1 crore on Bhanu Katoch, Rs 17 lakh on his mother Swarn Lata Katoch and Rs 8 lakh on his wife Sharika Kher. Additionally, the regulator slapped a fine of Rs 22 lakh on Deepen Doshi, who was head of institutional sales at JM Financial Asset Management during the violation, and Rs 9 lakh on his mother Aruna Doshi. In its order, Sebi noted that these five persons invested in certain JM Financial Mutual Fund schemes, holding defaulted Dewan Housing Finance Corporation Ltd (DHFL) securities before the valuation change, using unpublished ...

JM Financial to increase stake in Credit Solutions, sell 71.79% ARC stake

To acquire additional 49% stake in JM Financial Credit Solutions

Broking stocks fall up to 11% after Sebi directs MIIs to levy uniform fees

Broking company stocks including Angel One, IIFL Securities, 5Paisa Capital, SMC Global, Motilal Oswal Financial Services and Geojit Financial Services fell in the range of 2-11 per cent

Sebi confirms bans JM Financial from managing debt public issues till March

Markets regulator Sebi on Thursday confirmed the interim directions to bar JM Financial Ltd from acting as a lead manager for public issues of debt securities until March 31, 2025, in a case of alleged irregularities in a public issue of non-convertible debentures (NCDs). The regulator, in a confirmatory order, clarified that the restriction only applies to public issues of debt securities and does not affect JM Financial Ltd (JMFL) other activities, including equity issues. In its interim order issued on March 7, Sebi barred JMFL from taking new mandates as a lead manager for public issues of debt securities due to potential irregularities in a public issue of non-convertible debentures (NCDs). JMFL, as a lead manager, had allegedly irregular practices involving retail investors and associated companies within the JM Group. Sebi, prima facie, found that JM Group entities appeared to incentivise investors to apply for securities in issues managed by JMFL. It noted that significant

'Institutional investors not tracking whether NDA will cross 400+ seats'

Lok Sabha elections: Stability and continuity of the reform and growth-led agenda of the NDA government is what markets want

Lok Sabha 2024 poll result on June 4:Brokerage expectation, market strategy

Here's how leading foreign and domestic brokerages have interpreted the Lok Sabha 2024 election-related developments thus far, their poll outcome scenarios and market strategy

JM Financial ARC's capital adequacy falls below regulatory norms

Existing investors to infuse up to Rs 1,000 crore equity

JM Financial, 6 others settle case with Sebi; pay over Rs 23 lakh fine

JM Financial Ltd and six others have paid a little over Rs 23 lakh as settlement charges to Sebi to settle a case related to an alleged violation of disclosure rules and merchant banking norms in the matter of Elcid Investments Ltd. JM Financial has paid Rs 15 lakh as a settlement fee, while Mahesh Chimanlal Dalal, Bharat Bhasker Talati, Ketan Chatrabhuj Kapadia, Dipika Amar Vakil, Amrita Amar Vakil, and Varun Amar Vakil paid collectively Rs 8.12 lakh towards the settlement charges, Sebi said in an order on Tuesday. The order came after the applicants proposed to settle the instant proceedings initiated against them, without "admitting or denying the findings of facts and conclusions" of law. The Securities and Exchange Board of India (Sebi) had initiated adjudication proceedings against Dalal, Talati, Kapadia, Dipika Amar Vakil, Amrita Amar Vakil and Varun Amar Vakil for allegedly violating delisting rules, disclosure norms and the Companies Act. In addition, JM Financial Ltd also

Veteran dealmaker Atul Mehra joins Axis Capital as managing director & CEO

Atul Mehra is a veteran dealmaker with over three decades of experience and was the joint MD at JM Financial

RBI's special audit to probe regulatory breaches of IIFL Finance, JMFPL

Banking regulator seeks interest from Sebi-empanelled audit firms to conduct the audit

JM Financial shares eye another round of panic selling; here's why

Stocks to Watch on Monday, March 11: Sebi has barred JM Financial from accepting new mandates to act as a lead manager for the public issue of debt securities

Sebi, RBI widen investigation into public debt issue subscriptions: Report

Investigators are also studying if disproportionate loans were given to subscribes and whether customer identification processes were not adequately followed, the sources added

Will cooperate fully with Sebi in probe into debt issue: JM Financial

JM Financial Ltd has said it would fully cooperate with capital market regulator Sebi in its investigation into the public issue of debt securities. The statement came after Sebi barred JM Financial from accepting new mandates to act as a lead manager for the public issue of debt securities, for flouting regulatory norms. However, JM Financial can continue to act as a lead manager for the public issue of debt securities for a period of 60 days in case of existing mandates, Sebi said in its interim order on Thursday. Further, the regulator will undertake an investigation into these issues, to be completed within six months. Following the order, JM Financial in a filing to the stock exchanges said, "The company shall fully cooperate with Sebi in this investigation". The Sebi's directive came days after the Reserve Bank barred JM Financial Products Ltd from providing any form of financing against shares and debentures, including sanction and disbursal of loans against initial public