Archive · 29 Sep 2026
JM Financial Subsidiary Raises Stake in Asset Reconstruction Firm
JM Financial Credit Solutions Limited bought more shares in JM Financial Asset Reconstruction Company.
It paid ₹162.59 crore for the shares.
The shares came from a rights issue, which means existing shareholders were offered shares based on their current ownership.
After the purchase, its ownership increased from 81.77% to 84.87%.
JM Financial Asset Reconstruction Company helps manage loans and other assets that banks consider stressed.
It is registered with the Reserve Bank of India.
The company had assets under management of ₹11,853 crore at the end of March 2026.
The new money is meant to help it operate, grow, and meet general business needs.
JM Financial Credit Solutions Limited acquired 16,25,85,928 shares of JM Financial Asset Reconstruction Company for ₹162.59 crore.
The shares were allotted through a rights issue and paid for in cash.
The acquisition increased JM Financial Credit Solutions’ stake in JM Financial Asset Reconstruction Company from 81.77% to 84.87%.
JM Financial Asset Reconstruction Company reported assets under management of ₹11,853 crore as of March 31, 2026.
The rights issue will support working capital, growth plans, and general corporate purposes.
- Who
- JM Financial Credit Solutions Limited, a wholly-owned subsidiary of JM Financial Limited, acquired shares in JM Financial Asset Reconstruction Company Limited.
- What
- It acquired 16,25,85,928 equity shares for ₹162.59 crore through a rights issue.
- When
- The transaction was announced on September 28, 2026; the financial figures cited are as of March 31, 2026.
- Where
- The transaction involved companies operating in India, with JM Financial Asset Reconstruction Company having a presence solely in India.
- Why
- The rights issue is intended to support working capital, finance growth plans, and serve general corporate purposes.
- Acquirer
- JM Financial Credit Solutions Limited
- Target
- JM Financial Asset Reconstruction Company Limited
- Acquisition value
- ₹162.59 crore
- Shares acquired
- 16,25,85,928 equity shares
- Ownership change
- From 81.77% to 84.87%
- Assets under management
- ₹11,853 crore as of March 31, 2026
- Reported turnover
- ₹223.95 crore as of March 31, 2026