JMFINANCIL
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JM Financial bullish on India's cables & wires sector; stocks edge higher
** Shares of cable & wire makers KEI Industries KEIN.NS, Polycab India POLC.NS, and R R Kabel RRKA.NS rise between 4% to 1%
** JM Financial expects exports to be a key growth driver for Indian C&W players, citing improved global positioning and China+1 tailwinds
** Brokerage says organised players to gain share amid rising capex, regulatory tightening, and competitive intensity
** JM forecasts sector to grow at 12% CAGR to 1,253 billion rupees ($14.60 billion) by FY28 from ~900 billion rupees in FY25
** Adds new entrants like UltraTech likely to impact smaller, unorganised players more than market leaders
** Initiates coverage on Polycab (BUY, PT 7,900 rupees), KEI (BUY, PT 4,500 rupees); reinitiates coverage on RR Kabel (BUY, PT 1,640 rupees)
** YTD, KEI Industries, Polycab India and R R Kabel down 12.5%, 4.6% and 4% respectively
($1 = 85.8100 Indian rupees)
(Reporting by Rudra Pratap Singh in Bengaluru)
** Shares of cable & wire makers KEI Industries KEIN.NS, Polycab India POLC.NS, and R R Kabel RRKA.NS rise between 4% to 1%
** JM Financial expects exports to be a key growth driver for Indian C&W players, citing improved global positioning and China+1 tailwinds
** Brokerage says organised players to gain share amid rising capex, regulatory tightening, and competitive intensity
** JM forecasts sector to grow at 12% CAGR to 1,253 billion rupees ($14.60 billion) by FY28 from ~900 billion rupees in FY25
** Adds new entrants like UltraTech likely to impact smaller, unorganised players more than market leaders
** Initiates coverage on Polycab (BUY, PT 7,900 rupees), KEI (BUY, PT 4,500 rupees); reinitiates coverage on RR Kabel (BUY, PT 1,640 rupees)
** YTD, KEI Industries, Polycab India and R R Kabel down 12.5%, 4.6% and 4% respectively
($1 = 85.8100 Indian rupees)
(Reporting by Rudra Pratap Singh in Bengaluru)
India New Issue-JM Financial Credit Solutions accepts bids for bond issues, bankers say
MUMBAI, July 2 (Reuters) - India's JM Financial Credit Solutions has accepted bids worth an aggregate of 6.50 billion rupees ($75.84 million) for bonds maturing in two years and 11 months, and in three years, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 8.50% on each issue, and had invited commitment bids from bankers and investors earlier in the day, they said.
It did not reply to a Reuters email for comment.
Here is the list of deals reported so far on July 2:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
JM Financial Credit Solutions | 2 year and 11 months | 8.50 | 3 | July 2 | AA (Icra) |
JM Financial Credit Solutions | 3 years | 8.50 | 3.50 | July 2 | AA (Icra) |
* Size includes base plus greenshoe for some issues
($1 = 85.7100 Indian rupees)
(Reporting by Dharamraj Dhutia)
MUMBAI, July 2 (Reuters) - India's JM Financial Credit Solutions has accepted bids worth an aggregate of 6.50 billion rupees ($75.84 million) for bonds maturing in two years and 11 months, and in three years, three merchant bankers said on Wednesday.
The company will pay an annual coupon of 8.50% on each issue, and had invited commitment bids from bankers and investors earlier in the day, they said.
It did not reply to a Reuters email for comment.
Here is the list of deals reported so far on July 2:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
JM Financial Credit Solutions | 2 year and 11 months | 8.50 | 3 | July 2 | AA (Icra) |
JM Financial Credit Solutions | 3 years | 8.50 | 3.50 | July 2 | AA (Icra) |
* Size includes base plus greenshoe for some issues
($1 = 85.7100 Indian rupees)
(Reporting by Dharamraj Dhutia)
JM Financial Completes Acquisition Of 2.98% Equity In JM Financial Credit Solutions
July 1 (Reuters) - JM Financial Ltd JMSH.NS:
COMPLETES ACQUISITION OF 2.98% EQUITY IN JM FINANCIAL CREDIT SOLUTIONS
Source text: ID:nNSE2fWWhs
Further company coverage: JMSH.NS
(([email protected];;))
July 1 (Reuters) - JM Financial Ltd JMSH.NS:
COMPLETES ACQUISITION OF 2.98% EQUITY IN JM FINANCIAL CREDIT SOLUTIONS
Source text: ID:nNSE2fWWhs
Further company coverage: JMSH.NS
(([email protected];;))
JM Financial Dividend 2.7 Rupees Per Share
May 12 (Reuters) - JM Financial Ltd JMSH.NS:
DIVIDEND 2.7 RUPEES PER SHARE
MARCH-QUARTER CONSOL NET PROFIT 2.1 BILLION RUPEES
MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.04 BILLION RUPEES
Source text: ID:nBSE6xj3t6
Further company coverage: JMSH.NS
(([email protected];;))
May 12 (Reuters) - JM Financial Ltd JMSH.NS:
DIVIDEND 2.7 RUPEES PER SHARE
MARCH-QUARTER CONSOL NET PROFIT 2.1 BILLION RUPEES
MARCH-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.04 BILLION RUPEES
Source text: ID:nBSE6xj3t6
Further company coverage: JMSH.NS
(([email protected];;))
Jm Financial Approves Business Transfer Agreement With JM Financial Services
March 17 (Reuters) - JM Financial Ltd JMSH.NS:
APPROVES BUSINESS TRANSFER AGREEMENT WITH JM FINANCIAL SERVICES
AGREEMENT FOR TRANSFER OF PRIVATE WEALTH BUSINESS OF CO
CONSIDERATION FOR SALE 110.8 MILLION RUPEES
BUSINESS TRANSFER EFFECTIVE FROM APRIL 1, 2025
Source text: ID:nBSE1QQG1Y
Further company coverage: JMSH.NS
(([email protected];;))
March 17 (Reuters) - JM Financial Ltd JMSH.NS:
APPROVES BUSINESS TRANSFER AGREEMENT WITH JM FINANCIAL SERVICES
AGREEMENT FOR TRANSFER OF PRIVATE WEALTH BUSINESS OF CO
CONSIDERATION FOR SALE 110.8 MILLION RUPEES
BUSINESS TRANSFER EFFECTIVE FROM APRIL 1, 2025
Source text: ID:nBSE1QQG1Y
Further company coverage: JMSH.NS
(([email protected];;))
India's JM Financial shares rise; co to get tax refund of 2.3 billion rupees
** Shares of JM Financial JMSH.NS climb as much as 5.5% to 108.61 rupees; last up 2.9%
** Financial services firm will receive income tax refund of 2.3 billion rupees ($27 million)
** Stock up ~8% so far this week, on track to log biggest weekly gain since late-September
($1 = 86.5525 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
** Shares of JM Financial JMSH.NS climb as much as 5.5% to 108.61 rupees; last up 2.9%
** Financial services firm will receive income tax refund of 2.3 billion rupees ($27 million)
** Stock up ~8% so far this week, on track to log biggest weekly gain since late-September
($1 = 86.5525 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
JM Financial Gets Tax Department Order For Refund Of 2.3 Bln Rupees
Feb 20 (Reuters) - JM Financial Ltd JMSH.NS:
GETS TAX DEPARTMENT ORDER FOR REFUND OF 2.30 BILLION RUPEES
Source text: ID:nNSE9CS35C
Further company coverage: JMSH.NS
(([email protected];;))
Feb 20 (Reuters) - JM Financial Ltd JMSH.NS:
GETS TAX DEPARTMENT ORDER FOR REFUND OF 2.30 BILLION RUPEES
Source text: ID:nNSE9CS35C
Further company coverage: JMSH.NS
(([email protected];;))
FACTBOX-India's central bank begins unwinding curbs on NBFCs and banks
Adds RBI lifting restrictions on Kotak Mahindra Bank
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) and banks after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
KOTAK MAHINDRA BANK
The Reserve Bank of India on Wednesday lifted restrictions on Kotak Mahindra Bank KTKM.NS that had barred the lender from taking on new customers via its online and mobile banking channels, and from issuing new credit cards.
RBI had imposed business restrictions on the lender , asking it to stop adding clients through its online and mobile banking channels and issuing credit cards due to gaps in its IT infrastructure.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI, last month, removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
Adds RBI lifting restrictions on Kotak Mahindra Bank
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) and banks after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
KOTAK MAHINDRA BANK
The Reserve Bank of India on Wednesday lifted restrictions on Kotak Mahindra Bank KTKM.NS that had barred the lender from taking on new customers via its online and mobile banking channels, and from issuing new credit cards.
RBI had imposed business restrictions on the lender , asking it to stop adding clients through its online and mobile banking channels and issuing credit cards due to gaps in its IT infrastructure.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI, last month, removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam and Kashish Tandon in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
India's IndusInd Bank up for eighth day on MSCI weight increase hopes, valuation comfort
** India's IndusInd Bank INBK.NS up for eighth straight session, rising 16% in the period to 1,078.70 rupees, highest level in nearly 3 months
** Expectations of MSCI weight increase, reasonable valuations, and hopes of easing stress in microfinance segment aiding gains in INBK
** Stock's weight in MSCI index to be doubled, leading to $145 million inflows, says JM Financial Services
** MSCI index rebalancing scheduled after India market hours on Feb. 11
** Current valuations suggestive of structural 1% RoA profile and market share loss, which is unjustified, ICICI Securities said on Feb. 1
** Says INBK well positioned on the interest rate cycle with high share of fixed-rate loans and non-retail deposits
** Analysts average rating on stock "Buy"; median PT 1,280 rupees - LSEG data
(Reporting by Vivek Kumar M)
** India's IndusInd Bank INBK.NS up for eighth straight session, rising 16% in the period to 1,078.70 rupees, highest level in nearly 3 months
** Expectations of MSCI weight increase, reasonable valuations, and hopes of easing stress in microfinance segment aiding gains in INBK
** Stock's weight in MSCI index to be doubled, leading to $145 million inflows, says JM Financial Services
** MSCI index rebalancing scheduled after India market hours on Feb. 11
** Current valuations suggestive of structural 1% RoA profile and market share loss, which is unjustified, ICICI Securities said on Feb. 1
** Says INBK well positioned on the interest rate cycle with high share of fixed-rate loans and non-retail deposits
** Analysts average rating on stock "Buy"; median PT 1,280 rupees - LSEG data
(Reporting by Vivek Kumar M)
India's JM Financial hits 5-month low after Q3 profit drop
** Shares of JM Financial JMSH.NS fall as much as 11% to 95.28 rupees, lowest since Aug. 26; last down 9.1%
** The financial services firm on Tuesday reported ~25% Y/Y fall in Q3 consol net profit while total rev from ops fell 10.5% Y/Y
** Stock on track for a fourth consecutive session of loss, if trend holds
** More than 6 mln shares change hands, 2.1x of 30-day avg
** Stock fell 13.7% in Dec. qtr, snapping two straight quarters of gain
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
** Shares of JM Financial JMSH.NS fall as much as 11% to 95.28 rupees, lowest since Aug. 26; last down 9.1%
** The financial services firm on Tuesday reported ~25% Y/Y fall in Q3 consol net profit while total rev from ops fell 10.5% Y/Y
** Stock on track for a fourth consecutive session of loss, if trend holds
** More than 6 mln shares change hands, 2.1x of 30-day avg
** Stock fell 13.7% in Dec. qtr, snapping two straight quarters of gain
(Reporting by Ashish Chandra in Bengaluru)
(([email protected] (+91 7982114624))
JM Financial Dec-Qtr Consol Net Profit 2.09 Bln Rupees
Jan 28 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL DEC-QUARTER CONSOL NET PROFIT 2.09 BILLION RUPEES
JM FINANCIAL DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 11.06 BILLION RUPEES
Source text: ID:nBSE5Zs61w
Further company coverage: JMSH.NS
(([email protected];;))
Jan 28 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL DEC-QUARTER CONSOL NET PROFIT 2.09 BILLION RUPEES
JM FINANCIAL DEC-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 11.06 BILLION RUPEES
Source text: ID:nBSE5Zs61w
Further company coverage: JMSH.NS
(([email protected];;))
JM Financial Names Ankur Jhaveri As MD, CEO, Institutional Equities
Jan 15 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL - NAMES ANKUR JHAVERI AS MD, CEO, INSTITUTIONAL EQUITIES
Source text: [ID:]
Further company coverage: JMSH.NS
(([email protected];))
Jan 15 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL - NAMES ANKUR JHAVERI AS MD, CEO, INSTITUTIONAL EQUITIES
Source text: [ID:]
Further company coverage: JMSH.NS
(([email protected];))
FACTBOX-India's central bank begins unwinding curbs on NBFCs
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI on Wednesday removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
Jan 9 (Reuters) - The Reserve Bank of India has started to ease curbs on non-banking financial companies (NBFCs) after they improved their compliance following a series of supervisory restrictions.
High interest rates and tighter regulations have been cited as contributors to weak demand and a slowdown in India's economic growth, including by the federal finance ministry in a recent report.
The Indian central bank also got a new chief in December with Sanjay Malhotra taking over from Shaktikanta Das.
The following is a list of companies whose restrictions have been removed by the RBI.
ASIRVAD MICRO FINANCE, DMI FINANCE, AROHAN FINANCIAL SERVICES, NAVI FINSERV
The RBI on Wednesday removed restrictions imposed on DMI Finance and Manappuram Finance-owned MNFL.NS Asirvad Micro Finance with immediate effect.
The regulator had in October barred the two companies, along with Arohan Financial Services and Navi Finserv, from sanctioning and disbursing loans due to "usurious" pricing and charging a significant mark-up over their funding costs.
The same restrictions on Arohan were lifted last week, and from Navi in December.
EDELWEISS ASSET RECONSTRUCTION, ECL FINANCE
The central bank last month lifted restrictions on Edelweiss Asset Reconstruction and ECL Finance, first imposed in May 2024, which barred them from acquiring financial assets or undertaking structured transactions.
The regulator was satisfied with the measures taken to address what it had called "evergreening" of distressed loans.
JM FINANCIAL
A unit of financial services firm JM Financial JMSH.NS in October resumed financing activities related to shares and debentures, including loans for IPO subscriptions after the central bank ended restrictive measures.
The RBI in March barred JM Financial Products from issuing such loans, due to regulatory violations and governance concerns.
IIFL FINANCE
In September, the RBI permitted IIFL Finance to resume issuance of gold loans.
The central bank had barred it from offering gold loans in March, citing concerns about its assessment of gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
BAJAJ FINANCE
The RBI in May reversed curbs imposed on India's largest NBFC, Bajaj Finance, allowing it to restart loan disbursals under two of its lending products.
The restrictions were levied in November 2023 due to non-adherence with the central bank's digital lending guidelines.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Varun H K)
(([email protected]; Mobile: +91 9591011727;))
JM Financial Receives Administrative Warning From SEBI
Jan 3 (Reuters) - JM Financial Ltd JMSH.NS:
RECEIVES ADMINISTRATIVE WARNING FROM SEBI
WARNING RELATED TO IPO OF CLIENT WESTERN CARRIER (INDIA) LIMITED
Source text: ID:nBSE5K473v
Further company coverage: JMSH.NS
(([email protected];;))
Jan 3 (Reuters) - JM Financial Ltd JMSH.NS:
RECEIVES ADMINISTRATIVE WARNING FROM SEBI
WARNING RELATED TO IPO OF CLIENT WESTERN CARRIER (INDIA) LIMITED
Source text: ID:nBSE5K473v
Further company coverage: JMSH.NS
(([email protected];;))
JM Financial Sept-Quarter Consol Net Profit 2.32 Bln Rupees
Oct 25 (Reuters) - JM Financial Ltd JMSH.NS:
SEPT-QUARTER CONSOL NET PROFIT 2.32 BILLION RUPEES
SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 11.91 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
Oct 25 (Reuters) - JM Financial Ltd JMSH.NS:
SEPT-QUARTER CONSOL NET PROFIT 2.32 BILLION RUPEES
SEPT-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 11.91 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
India's JM Financial jumps after cenbank lifts ban on unit
** Shares of India's JM Financial JMSH.NS jump ~6% to 168 rupees
** The NBFC on Friday said the Reserve Bank of India (RBI) lifted the ban on unit JM Financial Products
** In March, the RBI barred JM Financial Products from issuing loans against shares and debentures, citing regulatory violations and governance concerns
** Stock has risen ~70% YTD
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Shares of India's JM Financial JMSH.NS jump ~6% to 168 rupees
** The NBFC on Friday said the Reserve Bank of India (RBI) lifted the ban on unit JM Financial Products
** In March, the RBI barred JM Financial Products from issuing loans against shares and debentures, citing regulatory violations and governance concerns
** Stock has risen ~70% YTD
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
JM Financial Says RBI Lifted Restrictions Imposed By It On JM Financial Products
Oct 18 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL LTD - RBI LIFTED RESTRICTIONS IMPOSED BY IT ON COMPANY THROUGH ORDER DATED MARCH 5
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
Oct 18 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL LTD - RBI LIFTED RESTRICTIONS IMPOSED BY IT ON COMPANY THROUGH ORDER DATED MARCH 5
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];;))
India Competition Watchdog Approves Acquisition Of 42.99% Stake Of JM Financial Credit Solutions By JM Financial
Oct 8 (Reuters) - JM Financial Ltd JMSH.NS:
INDIA COMPETITION WATCHDOG: APPROVES ACQUISITION OF 42.99% STAKE OF JM FINANCIAL CREDIT SOLUTIONS BY JM FINANCIAL
CCI: APPROVES ACQUISITION OF 71.79% STAKE OF JM FINANCIAL ASSET RECONSTRUCTION BY JM FINANCIAL CREDIT SOLUTIONS
Further company coverage: JMSH.NS
(([email protected];))
Oct 8 (Reuters) - JM Financial Ltd JMSH.NS:
INDIA COMPETITION WATCHDOG: APPROVES ACQUISITION OF 42.99% STAKE OF JM FINANCIAL CREDIT SOLUTIONS BY JM FINANCIAL
CCI: APPROVES ACQUISITION OF 71.79% STAKE OF JM FINANCIAL ASSET RECONSTRUCTION BY JM FINANCIAL CREDIT SOLUTIONS
Further company coverage: JMSH.NS
(([email protected];))
Jm Financial June-Quarter Consol NetProfit 1.71 Billion Rupees
Aug 6 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL LTD JUNE-QUARTER CONSOL NET PROFIT 1.71 BILLION RUPEES
JM FINANCIAL LTD JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.77 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];))
Aug 6 (Reuters) - JM Financial Ltd JMSH.NS:
JM FINANCIAL LTD JUNE-QUARTER CONSOL NET PROFIT 1.71 BILLION RUPEES
JM FINANCIAL LTD JUNE-QUARTER CONSOL TOTAL REVENUE FROM OPERATIONS 10.77 BILLION RUPEES
Source text for Eikon: [ID:]
Further company coverage: JMSH.NS
(([email protected];))
JM Financial Says SEBI Has Issued An Order In Relation To Co
June 21 (Reuters) - JM Financial Ltd JMSH.NS:
SEBI HAS ISSUED AN ORDER IN RELATION TO CO
CO IS COMMITTED TO COOPERATE WITH SEBI FOR RESOLUTION OF MATTER
Further company coverage: JMSH.NS
(([email protected];))
June 21 (Reuters) - JM Financial Ltd JMSH.NS:
SEBI HAS ISSUED AN ORDER IN RELATION TO CO
CO IS COMMITTED TO COOPERATE WITH SEBI FOR RESOLUTION OF MATTER
Further company coverage: JMSH.NS
(([email protected];))
Jm Financial Says Fund's Investment In Modish Tractoraurkisan Is In Its Normal Course Of Business
June 20 (Reuters) - JM Financial Ltd JMSH.NS:
NEWS "JM FINANCIAL PRIVATE EQUITY INVESTS 400 MILLION RUPEES IN FARM EQUIPMENT MAKER MODISH TRACTORAURKISAN" IS TRUE AND CORRECT
FUND HAS MADE AN INVESTMENT IN MODISH TRACTORAURKISAN, WHICH IS IN ITS NORMAL COURSE OF BUSINESS
Further company coverage: JMSH.NS
(([email protected];))
June 20 (Reuters) - JM Financial Ltd JMSH.NS:
NEWS "JM FINANCIAL PRIVATE EQUITY INVESTS 400 MILLION RUPEES IN FARM EQUIPMENT MAKER MODISH TRACTORAURKISAN" IS TRUE AND CORRECT
FUND HAS MADE AN INVESTMENT IN MODISH TRACTORAURKISAN, WHICH IS IN ITS NORMAL COURSE OF BUSINESS
Further company coverage: JMSH.NS
(([email protected];))
FACTBOX-India central bank scrutiny of financial firms leads to restrictions
Updates Factbox published on April 25 with recent RBI actions
By Jaspreet Kalra and Siddhi Nayak
MUMBAI, May 30 (Reuters) - The Reserve Bank of India's (RBI) increased scrutiny of banks and other financial firms has resulted in a spate of supervisory restrictions, most recently on two Edelweiss Group companies for engaging in 'evergreening' of distressed assets.
On Tuesday, the RBI said Edelweiss Asset Reconstruction Co Ltd (EARCL) and non-banking firm ECL Finance (ECL) had entered into a series of structured transactions for evergreening some stressed loans, barring both firms from acquiring financial assets or undertaking structured transactions.
Since 2020, the RBI has placed business restrictions on many players. The following are some of its key actions:
HDFC BANK
In December 2020 the RBI ordered HDFC Bank to stop all launches of new digital products and issuance of new credit cards following multiple outages on the bank's digital banking channels.
The restrictions lasted until March 2022 which hindered the bank's business growth, contributing to underperformance of its stock compared to its peers.
BANK OF BARODA
In October 2023, the central bank barred state-run Bank of Baroda from adding customers to its mobile app, bob World.
Al Jazeera reported that Bank of Baroda had linked mobile numbers of strangers to boost registrations on the application, compromising security.
The restriction was lifted earlier in May after the bank rectified the deficiencies.
BAJAJ FINANCE
In November 2023 the RBI ordered India's largest non-bank finance company (NBFC), Bajaj Finance, to stop offering loans under two of its lending products.
The restrictions were levied due to non-adherence with the central bank's digital lending guidelines and were reversed earlier this month.
PAYTM PAYMENTS BANK
At the end of January 2024 the RBI asked Paytm Payments Bank to wind down its operations by March 15 due to persistent compliance issues and supervisory concerns.
Reuters reported that the RBI's concerns stemmed largely from violations of rules on customer due diligence, use of funds and technology infrastructure.
IIFL FINANCE
In early March 2024 the RBI barred IIFL Finance, an NBFC, from offering gold loans, citing concerns about the lender's assessment of the gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
The restrictions are still in effect.
JM FINANCIAL
Also in March 2024, non-bank financier JM Financial was barred from giving out loans against shares and debentures due to regulatory violations and governance concerns.
The central bank said it found serious deficiencies in respect of loans sanctioned by the company for IPO financing. The non-bank lender continues to be barred from operating in the segment.
(Reporting by Jaspreet Kalra and Siddhi Nayak; Editing by Nivedita Bhattacharjee)
(([email protected]; +91-8769636545;))
Updates Factbox published on April 25 with recent RBI actions
By Jaspreet Kalra and Siddhi Nayak
MUMBAI, May 30 (Reuters) - The Reserve Bank of India's (RBI) increased scrutiny of banks and other financial firms has resulted in a spate of supervisory restrictions, most recently on two Edelweiss Group companies for engaging in 'evergreening' of distressed assets.
On Tuesday, the RBI said Edelweiss Asset Reconstruction Co Ltd (EARCL) and non-banking firm ECL Finance (ECL) had entered into a series of structured transactions for evergreening some stressed loans, barring both firms from acquiring financial assets or undertaking structured transactions.
Since 2020, the RBI has placed business restrictions on many players. The following are some of its key actions:
HDFC BANK
In December 2020 the RBI ordered HDFC Bank to stop all launches of new digital products and issuance of new credit cards following multiple outages on the bank's digital banking channels.
The restrictions lasted until March 2022 which hindered the bank's business growth, contributing to underperformance of its stock compared to its peers.
BANK OF BARODA
In October 2023, the central bank barred state-run Bank of Baroda from adding customers to its mobile app, bob World.
Al Jazeera reported that Bank of Baroda had linked mobile numbers of strangers to boost registrations on the application, compromising security.
The restriction was lifted earlier in May after the bank rectified the deficiencies.
BAJAJ FINANCE
In November 2023 the RBI ordered India's largest non-bank finance company (NBFC), Bajaj Finance, to stop offering loans under two of its lending products.
The restrictions were levied due to non-adherence with the central bank's digital lending guidelines and were reversed earlier this month.
PAYTM PAYMENTS BANK
At the end of January 2024 the RBI asked Paytm Payments Bank to wind down its operations by March 15 due to persistent compliance issues and supervisory concerns.
Reuters reported that the RBI's concerns stemmed largely from violations of rules on customer due diligence, use of funds and technology infrastructure.
IIFL FINANCE
In early March 2024 the RBI barred IIFL Finance, an NBFC, from offering gold loans, citing concerns about the lender's assessment of the gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
The restrictions are still in effect.
JM FINANCIAL
Also in March 2024, non-bank financier JM Financial was barred from giving out loans against shares and debentures due to regulatory violations and governance concerns.
The central bank said it found serious deficiencies in respect of loans sanctioned by the company for IPO financing. The non-bank lender continues to be barred from operating in the segment.
(Reporting by Jaspreet Kalra and Siddhi Nayak; Editing by Nivedita Bhattacharjee)
(([email protected]; +91-8769636545;))
FACTBOX-India central bank scrutiny of financial firms leads to restrictions
By Jaspreet Kalra and Siddhi Nayak
MUMBAI, April 25 (Reuters) - The Reserve Bank of India's (RBI) increased scrutiny of banks and other financial firms has resulted in a spate of supervisory restrictions, most recently on Kotak Mahindra Bank, India's fourth largest private lender by assets.
On Wednesday the RBI barred Kotak Mahindra Bank from taking on new customers digitally and issuing credit cards, due to information technology-related deficiencies.
Since 2020, the RBI has placed business restrictions on HDFC Bank, India's largest private lender, Paytm Payments Bank, the banking unit of fintech firm Paytm, and JM Financial, among others. Following are some of the key actions:
HDFC BANK
In December 2020 the RBI ordered HDFC Bank to stop all launches of new digital products and issuance of new credit cards following multiple outages on the bank's digital banking channels.
The restrictions lasted until March 2022 which hindered the bank's business growth, contributing to underperformance of its stock compared to its peers.
BANK OF BARODA
In October 2023, the central bank barred state-run Bank of Baroda from adding customers to its mobile app, bob World.
Al Jazeera reported that Bank of Baroda had linked mobile numbers of strangers to boost registrations on the application, compromising security.
The restriction is yet to be lifted.
BAJAJ FINANCE
In November 2023 the RBI ordered India's largest non-bank finance company (NBFC), Bajaj Finance, to stop offering loans under two of its lending products.
The restrictions were levied due to non-adherence with the central bank's digital lending guidelines. The restrictions are still in effect.
PAYTM PAYMENTS BANK
At the end of January 2024 the RBI asked Paytm Payments Bank to wind down its operations by March 15 due to persistent compliance issues and supervisory concerns.
Reuters reported that the RBI's concerns stemmed largely from violations of rules on customer due diligence, use of funds and technology infrastructure.
IIFL FINANCE
In early March 2024 the RBI barred IIFL Finance, an NBFC, from offering gold loans, citing concerns about the lender's assessment of the gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
The restrictions are still in effect.
JM FINANCIAL
Also in March 2024, non-bank financier JM Financial was barred from giving out loans against shares and debentures due to regulatory violations and governance concerns.
The central bank said it found serious deficiencies in respect of loans sanctioned by the company for IPO financing. The non-bank lender continues to be barred from operating in the segment.
(Reporting by Jaspreet Kalra and Siddhi Nayak)
(([email protected]; +91-8769636545;))
By Jaspreet Kalra and Siddhi Nayak
MUMBAI, April 25 (Reuters) - The Reserve Bank of India's (RBI) increased scrutiny of banks and other financial firms has resulted in a spate of supervisory restrictions, most recently on Kotak Mahindra Bank, India's fourth largest private lender by assets.
On Wednesday the RBI barred Kotak Mahindra Bank from taking on new customers digitally and issuing credit cards, due to information technology-related deficiencies.
Since 2020, the RBI has placed business restrictions on HDFC Bank, India's largest private lender, Paytm Payments Bank, the banking unit of fintech firm Paytm, and JM Financial, among others. Following are some of the key actions:
HDFC BANK
In December 2020 the RBI ordered HDFC Bank to stop all launches of new digital products and issuance of new credit cards following multiple outages on the bank's digital banking channels.
The restrictions lasted until March 2022 which hindered the bank's business growth, contributing to underperformance of its stock compared to its peers.
BANK OF BARODA
In October 2023, the central bank barred state-run Bank of Baroda from adding customers to its mobile app, bob World.
Al Jazeera reported that Bank of Baroda had linked mobile numbers of strangers to boost registrations on the application, compromising security.
The restriction is yet to be lifted.
BAJAJ FINANCE
In November 2023 the RBI ordered India's largest non-bank finance company (NBFC), Bajaj Finance, to stop offering loans under two of its lending products.
The restrictions were levied due to non-adherence with the central bank's digital lending guidelines. The restrictions are still in effect.
PAYTM PAYMENTS BANK
At the end of January 2024 the RBI asked Paytm Payments Bank to wind down its operations by March 15 due to persistent compliance issues and supervisory concerns.
Reuters reported that the RBI's concerns stemmed largely from violations of rules on customer due diligence, use of funds and technology infrastructure.
IIFL FINANCE
In early March 2024 the RBI barred IIFL Finance, an NBFC, from offering gold loans, citing concerns about the lender's assessment of the gold collateral and violations of the maximum permitted loan-to-value ratio, among other issues.
The restrictions are still in effect.
JM FINANCIAL
Also in March 2024, non-bank financier JM Financial was barred from giving out loans against shares and debentures due to regulatory violations and governance concerns.
The central bank said it found serious deficiencies in respect of loans sanctioned by the company for IPO financing. The non-bank lender continues to be barred from operating in the segment.
(Reporting by Jaspreet Kalra and Siddhi Nayak)
(([email protected]; +91-8769636545;))
India's JM Financial slides on SEBI ban from managing new bond issues
** Shares of JM Financial JMSH.NS down 7.3% at 81.50 rupees
** India's markets regulator SEBI banned the financial services group from managing any new bond issues
** JMSH provided funds to individual investors to invest in public debt issues, while simultaneously assuring them of an exit at a profit on the listing day, SEBI said
** Stock down ~15% since India's RBI barred JMSH's non-bank unit on March 5 from lending against shares or debentures
(Reporting by Kashish Tandon in Bengaluru)
** Shares of JM Financial JMSH.NS down 7.3% at 81.50 rupees
** India's markets regulator SEBI banned the financial services group from managing any new bond issues
** JMSH provided funds to individual investors to invest in public debt issues, while simultaneously assuring them of an exit at a profit on the listing day, SEBI said
** Stock down ~15% since India's RBI barred JMSH's non-bank unit on March 5 from lending against shares or debentures
(Reporting by Kashish Tandon in Bengaluru)
India widens inquiry into public debt issue subscriptions, sources say
By Jayshree P Upadhyay and Dharamraj Dhutia
MUMBAI, March 8 (Reuters) - India's financial market regulator and its central bank are widening an investigation into how merchant banks manage retail subscriptions in public debt issues, two sources with direct knowledge of the matter told Reuters.
The Securities and Exchange Board of India (SEBI) barred JM Financial from taking new mandates this week, saying it had found that funds from connected entities were used to inflate subscriptions and provide an assured exit to investors.
JM Financial said in a stock exchange filing on Thursday that it will fully cooperate with SEBI in its investigations.
The Reserve Bank of India (RBI), meanwhile, has told JM Financial's non-banking unit to stop any form of financing against shares and debentures, including loans to customers to subscribe to initial public offerings (IPOs).
Several other cases are under investigation to see if merchant banks provided investors with an exit through connected non-banking finance firms, said the two sources, who declined to be named as they are not authorised to speak to the media.
Investigators are also studying if disproportionate loans were given to subscribes and whether customer identification processes were not adequately followed, the sources added.
SEBI and RBI did not respond to requests for comment.
Indian regulations do not bar investors from taking on credit to subscribe to debt securities in public issues.
However, assuring investors of a profitable exit would break the code of conduct for merchant banks which bars them from creating an artificial market.
MARKET IMPACT
Indian companies have raised more than 200 billion rupees ($2.4 billion) via public issues of bonds so far this financial year, more than double last year, data from Prime Database showed. This is also the highest in last five years.
Five merchant bankers told Reuters that the regulatory scrutiny of processes followed in the public debt market could cut subscriptions for such issues and raise the cost of funds.
"This will now lead to a slowdown in retail subscriptions, as an artificial demand for the product was created, which actually did not exist," said one banker, declining to be identified as they are not authorised to speak to the media.
Non-bank lenders, which are looking to diversify their source of funds after the central bank raised capital requirements for banks to lend to them, may be hardest hit.
Bank lending to NBFCs has slowed in the past few months and SEBI's investigation could push them back to fundraising through private debt placements, said Vinay Pai, head of fixed income at Equirus.
($1 = 82.7070 Indian rupees)
(Reporting by Jayshree P Upadhyay and Dharamraj Dhutia; Additional reporting by Bhakti Tambe; Editing by Ira Dugal and Alexander Smith)
(([email protected];))
By Jayshree P Upadhyay and Dharamraj Dhutia
MUMBAI, March 8 (Reuters) - India's financial market regulator and its central bank are widening an investigation into how merchant banks manage retail subscriptions in public debt issues, two sources with direct knowledge of the matter told Reuters.
The Securities and Exchange Board of India (SEBI) barred JM Financial from taking new mandates this week, saying it had found that funds from connected entities were used to inflate subscriptions and provide an assured exit to investors.
JM Financial said in a stock exchange filing on Thursday that it will fully cooperate with SEBI in its investigations.
The Reserve Bank of India (RBI), meanwhile, has told JM Financial's non-banking unit to stop any form of financing against shares and debentures, including loans to customers to subscribe to initial public offerings (IPOs).
Several other cases are under investigation to see if merchant banks provided investors with an exit through connected non-banking finance firms, said the two sources, who declined to be named as they are not authorised to speak to the media.
Investigators are also studying if disproportionate loans were given to subscribes and whether customer identification processes were not adequately followed, the sources added.
SEBI and RBI did not respond to requests for comment.
Indian regulations do not bar investors from taking on credit to subscribe to debt securities in public issues.
However, assuring investors of a profitable exit would break the code of conduct for merchant banks which bars them from creating an artificial market.
MARKET IMPACT
Indian companies have raised more than 200 billion rupees ($2.4 billion) via public issues of bonds so far this financial year, more than double last year, data from Prime Database showed. This is also the highest in last five years.
Five merchant bankers told Reuters that the regulatory scrutiny of processes followed in the public debt market could cut subscriptions for such issues and raise the cost of funds.
"This will now lead to a slowdown in retail subscriptions, as an artificial demand for the product was created, which actually did not exist," said one banker, declining to be identified as they are not authorised to speak to the media.
Non-bank lenders, which are looking to diversify their source of funds after the central bank raised capital requirements for banks to lend to them, may be hardest hit.
Bank lending to NBFCs has slowed in the past few months and SEBI's investigation could push them back to fundraising through private debt placements, said Vinay Pai, head of fixed income at Equirus.
($1 = 82.7070 Indian rupees)
(Reporting by Jayshree P Upadhyay and Dharamraj Dhutia; Additional reporting by Bhakti Tambe; Editing by Ira Dugal and Alexander Smith)
(([email protected];))
India markets regulator bars JM Financial from managing new bond issuances
BENGALURU, March 7 (Reuters) - India's markets regulator on Thursday barred JM Financial JMSH.NS from taking new mandates to act as manager for bond issuances, it said in an interim order.
JM Financial can, however, act as lead manager for public issues of debt for another 60 days, the Securities and Exchange Board of India (SEBI) said.
(Reporting by Sethuraman NR in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
BENGALURU, March 7 (Reuters) - India's markets regulator on Thursday barred JM Financial JMSH.NS from taking new mandates to act as manager for bond issuances, it said in an interim order.
JM Financial can, however, act as lead manager for public issues of debt for another 60 days, the Securities and Exchange Board of India (SEBI) said.
(Reporting by Sethuraman NR in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
JM Financial Says Strongly Believe No Material Deficiencies In JM Financial Products's Loan Sanctioning Process
March 6 (Reuters) - JM Financial On RBI Action Against JM Financial Products:
STRONGLY BELIEVE THERE HAVE BEEN NO MATERIAL DEFICIENCIES IN JM FINANCIAL PRODUCTS'S LOAN SANCTIONING PROCESS
JM FINANCIAL PRODUCTS HAS NOT VIOLATED APPLICABLE RBI REGULATIONS
JM FINANCIAL PRODUCTS SHALL CONTINUE TO SERVICE ITS EXISTING CUSTOMERS AS ADVISED BY THE RBI
THERE HAVE BEEN NO GOVERNANCE ISSUES WHATSOEVER AT JM FINANCIAL PRODUCTS
PRACTICE OF TAKING POWER OF ATTORNEY PREVALENT ACROSS THE INDUSTRY, PERFECTLY LEGAL
WILL FULLY COOPERATE WITH RBI IN THEIR SPECIAL AUDIT INITIATIVE
Further company coverage: JMSH.NS
(([email protected];))
March 6 (Reuters) - JM Financial On RBI Action Against JM Financial Products:
STRONGLY BELIEVE THERE HAVE BEEN NO MATERIAL DEFICIENCIES IN JM FINANCIAL PRODUCTS'S LOAN SANCTIONING PROCESS
JM FINANCIAL PRODUCTS HAS NOT VIOLATED APPLICABLE RBI REGULATIONS
JM FINANCIAL PRODUCTS SHALL CONTINUE TO SERVICE ITS EXISTING CUSTOMERS AS ADVISED BY THE RBI
THERE HAVE BEEN NO GOVERNANCE ISSUES WHATSOEVER AT JM FINANCIAL PRODUCTS
PRACTICE OF TAKING POWER OF ATTORNEY PREVALENT ACROSS THE INDUSTRY, PERFECTLY LEGAL
WILL FULLY COOPERATE WITH RBI IN THEIR SPECIAL AUDIT INITIATIVE
Further company coverage: JMSH.NS
(([email protected];))
India cenbank bars JM Financial Products from financing against shares, debentures
BENGALURU, March 5 (Reuters) - The Reserve Bank of India has barred JM Financial Products, a unit of investment banking firm JM Financial JMSH.NS, from financing against shares and debentures due to "serious deficiencies", the central bank said on Tuesday.
"This action is necessitated due to certain serious deficiencies observed in respect of loans sanctioned by the company for IPO financing as well as NCD (Non-convertible debentures) subscriptions," the RBI said.
(Reporting by Chris Thomas in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
BENGALURU, March 5 (Reuters) - The Reserve Bank of India has barred JM Financial Products, a unit of investment banking firm JM Financial JMSH.NS, from financing against shares and debentures due to "serious deficiencies", the central bank said on Tuesday.
"This action is necessitated due to certain serious deficiencies observed in respect of loans sanctioned by the company for IPO financing as well as NCD (Non-convertible debentures) subscriptions," the RBI said.
(Reporting by Chris Thomas in Bengaluru; Editing by Janane Venkatraman)
(([email protected];))
India New Issue-Summary of primary bond market deals reported on Feb 14
MUMBAI, Feb 14 (Reuters) - A summary of primary bond market deals in India as of 6:00 p.m. IST (1230 GMT) on Feb. 14. Please note the list includes deals reported by Reuters and is not exhaustive.
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
JM Financial Credit Solutions | 2 yrs and 6 mnts | 9.30 | 1.50 | Feb. 14 | AA (Icra) |
JM Financial Credit Solutions | 2 yrs and 7 mnts | 9.30 | 3.50 | Feb. 14 | AA (Icra) |
JM Financial Credit Solutions | 3 yrs | 9.30 | 2.50 | Feb. 14 | AA (Icra) |
IRFC | 10 yrs | 7.48 | 30 | FEB. 14 | AAA (Crisil, Icra) |
Bajaj Housing Finance | 2 yrs | To be decided | 10+5 | Feb. 15 | AAA (Crisil) |
Aditya Birla Finance | 5 yrs | 8.16 | 1.75 | Feb. 13 | AAA (Icra, India Ratings |
* Size includes base plus greenshoe for some issues
(Reporting by Bhakti Tambe)
MUMBAI, Feb 14 (Reuters) - A summary of primary bond market deals in India as of 6:00 p.m. IST (1230 GMT) on Feb. 14. Please note the list includes deals reported by Reuters and is not exhaustive.
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
JM Financial Credit Solutions | 2 yrs and 6 mnts | 9.30 | 1.50 | Feb. 14 | AA (Icra) |
JM Financial Credit Solutions | 2 yrs and 7 mnts | 9.30 | 3.50 | Feb. 14 | AA (Icra) |
JM Financial Credit Solutions | 3 yrs | 9.30 | 2.50 | Feb. 14 | AA (Icra) |
IRFC | 10 yrs | 7.48 | 30 | FEB. 14 | AAA (Crisil, Icra) |
Bajaj Housing Finance | 2 yrs | To be decided | 10+5 | Feb. 15 | AAA (Crisil) |
Aditya Birla Finance | 5 yrs | 8.16 | 1.75 | Feb. 13 | AAA (Icra, India Ratings |
* Size includes base plus greenshoe for some issues
(Reporting by Bhakti Tambe)
India New Issue-JM Financial Credit Solutions to issue multiple tenor bonds - bankers
MUMBAI, Feb 13 (Reuters) - India's JM Financial Credit Solutions plans to raise 8.50 billion rupees ($102.44 million) through sale of bonds maturing in two years and six months, two years and seven months and in three years, three merchant bankers said.
The company will pay an annual coupon of 9.30% on each issue, and has invited commitment bids from bankers and investors on Wednesday, they said.
Here is the list of deals reported so far on Feb. 13:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
JM Financial Credit Solutions | 2 yrs and 6 mnts | 9.30 | 1.50 | Feb. 14 | AA (Icra) |
JM Financial Credit Solutions | 2 yrs and 7 mnts | 9.30 | 3.50 | Feb. 14 | AA (Icra) |
JM Financial Credit Solutions | 3 yrs | 9.30 | 2.50+1 | Feb. 14 | AA (Icra) |
SBI General Insurance | 10 yrs | To be decided | 3.5+3.5 | Feb. 20 | AAA (Icra, Crisil) |
ICICI Home Finance | 2 years and 7 months | 8.0915 | 1+1 | Feb. 14 | AAA (Icra, Careedge) |
ICICI Home Finance | 5 years | 8.04 | 3+3 | Feb. 14 | AAA (Icra, Careedge) |
Piramal Capital and Housing Finance | 1 year and 13 days | 3-month MIBOR + 183 bps | 5 | Feb. 12 | AA (Careedge) |
Tata Capital | 5 years | 7.99 | 1.15 | Feb. 12 | AAA (Icra, Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 82.9730 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Subhranshu Sahu)
MUMBAI, Feb 13 (Reuters) - India's JM Financial Credit Solutions plans to raise 8.50 billion rupees ($102.44 million) through sale of bonds maturing in two years and six months, two years and seven months and in three years, three merchant bankers said.
The company will pay an annual coupon of 9.30% on each issue, and has invited commitment bids from bankers and investors on Wednesday, they said.
Here is the list of deals reported so far on Feb. 13:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
JM Financial Credit Solutions | 2 yrs and 6 mnts | 9.30 | 1.50 | Feb. 14 | AA (Icra) |
JM Financial Credit Solutions | 2 yrs and 7 mnts | 9.30 | 3.50 | Feb. 14 | AA (Icra) |
JM Financial Credit Solutions | 3 yrs | 9.30 | 2.50+1 | Feb. 14 | AA (Icra) |
SBI General Insurance | 10 yrs | To be decided | 3.5+3.5 | Feb. 20 | AAA (Icra, Crisil) |
ICICI Home Finance | 2 years and 7 months | 8.0915 | 1+1 | Feb. 14 | AAA (Icra, Careedge) |
ICICI Home Finance | 5 years | 8.04 | 3+3 | Feb. 14 | AAA (Icra, Careedge) |
Piramal Capital and Housing Finance | 1 year and 13 days | 3-month MIBOR + 183 bps | 5 | Feb. 12 | AA (Careedge) |
Tata Capital | 5 years | 7.99 | 1.15 | Feb. 12 | AAA (Icra, Crisil) |
* Size includes base plus greenshoe for some issues
($1 = 82.9730 Indian rupees)
(Reporting by Dharamraj Dhutia and Bhakti Tambe; Editing by Subhranshu Sahu)
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What does JM Financial do?
JM Financial Limited is a leading financial services group in India, offering a wide range of services to corporations, financial institutions, and individual investors. Their diverse businesses include Investment Banking, Wealth Management, Mortgage Lending, Distressed Credit, and Asset Management.
Who are the competitors of JM Financial?
JM Financial major competitors are Pilani Investment, Summit Securities, Dolat Algotech, Indl & Prud Invts, Central Dep. Service, Crest Ventures, LKP Finance. Market Cap of JM Financial is ₹16,107 Crs. While the median market cap of its peers are ₹1,458 Crs.
Is JM Financial financially stable compared to its competitors?
JM Financial seems to be less financially stable compared to its competitors. Altman Z score of JM Financial is 1.9 and is ranked 7 out of its 8 competitors.
Does JM Financial pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. JM Financial latest dividend payout ratio is 31.42% and 3yr average dividend payout ratio is 35.61%
How has JM Financial allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments, Capital Work in Progress, Inventory, Accounts Receivable, Short Term Loans & Advances
How strong is JM Financial balance sheet?
Balance sheet of JM Financial is moderately strong.
Is the profitablity of JM Financial improving?
Yes, profit is increasing. The profit of JM Financial is ₹1,044 Crs for TTM, ₹821 Crs for Mar 2025 and ₹410 Crs for Mar 2024.
Is the debt of JM Financial increasing or decreasing?
The net debt of JM Financial is decreasing. Latest net debt of JM Financial is ₹2,688 Crs as of Mar-25. This is less than Mar-24 when it was ₹5,381 Crs.
Is JM Financial stock expensive?
JM Financial is expensive when considering the EV/EBIDTA, however latest PE is < 3 yr avg PE. Latest PE of JM Financial is 14.58, while 3 year average PE is 14.64. Also latest EV/EBITDA of JM Financial is 9.17 while 3yr average is 3.49.
Has the share price of JM Financial grown faster than its competition?
JM Financial has given lower returns compared to its competitors. JM Financial has grown at ~1.71% over the last 8yrs while peers have grown at a median rate of 22.73%
Is the promoter bullish about JM Financial?
Promoters seem to be bullish about the company. Latest quarter promoter holding is 56.51% and last quarter promoter holding is 56.5%.
Are mutual funds buying/selling JM Financial?
The mutual fund holding of JM Financial is decreasing. The current mutual fund holding in JM Financial is 5.77% while previous quarter holding is 6.38%.