JM Financial Limited has taken a decisive step to strengthen its lending business by acquiring the remaining 2.98 percent stake in its non-banking financial company arm, JM Financial Credit Solutions Ltd (JMFCSL), from Moraine Master Fund LP. The transaction, valued at approximately ₹88.97 crores, was finalised on July 1, 2025, through a cash deal. This move has resulted in JMFCSL becoming a wholly-owned subsidiary of JM Financial, marking a new chapter for the group’s financial services operations.
The acquisition involved the purchase of 84,343 equity shares, which represented the final minority interest in JMFCSL. Before this deal, JM Financial already held a 97.02 percent stake in the company. The share purchase agreement was signed on June 27, 2025, and the completion of this transaction has allowed JM Financial to gain full operational and strategic control over its NBFC arm. According to the company, this consolidation is expected to boost its share in consolidated profits, optimise capital allocation, and streamline the distribution of profits within the group.
JM Financial Credit Solutions Ltd, established in 1980, is registered with the Reserve Bank of India as a systemically important non-deposit-taking NBFC. It is categorized as a middle-layer NBFC under the RBI’s Scale-Based Regulations. The company operates solely in India, providing secured lending products to a wide range of clients.
In terms of financial performance, JMFCSL reported a turnover of ₹826.23 crore for the financial year 2024-25, compared to ₹1,304.82 crore in 2023-24 and ₹1,172.54 crore in 2022-23. The acquisition has been well-received by the market, with JM Financial’s shares experiencing a positive movement following the announcement. Analysts believe that complete ownership of JMFCSL will give JM Financial greater flexibility in managing capital and profits, further solidifying its position in the NBFC sector.
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This development is viewed as a strategic effort to simplify the group’s structure and enhance value for shareholders. As JM Financial continues to focus on growth and profitability, the full integration of its NBFC arm is expected to play a pivotal role in its future trajectory in the financial services industry.
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