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JM Financial stake sale: Company to sell 2.1% in home loans unit to Bajaj Allianz Life; Rs 65.5 crore deal to close by August 31

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JM Financial Credit Solutions Ltd (JMFCSL), a wholly-owned subsidiary of JM Financial, will sell a 2.1% stake in its home loans subsidiary to Bajaj Allianz Life Insurance Company for Rs 65.5 crore.In a regulatory filing on Sunday, JM Financial said JMFCSL has signed an investment agreement with Bajaj Allianz Life to sell 1.36 crore equity shares of JM Financial Home Loans Ltd (JMFHLL) at Rs 48 apiece, representing a 2.10% stake, PTI reported.The transaction, expected to close by August 31, will lower JMFCSL’s holding in JMFHLL from 8.98% to 6.88%. Consequently, JM Financial’s effective stake in the home loans unit, through subsidiaries, will reduce from 98.76% to 96.66%.JMFHLL reported a total income of Rs 368.45 crore for the financial year ended March 31, 2025, contributing 8.27% to JM Financial’s consolidated income. Its net worth stood at Rs 797.43 crore, accounting for 8.24% of the group’s consolidated net worth.Bajaj Allianz Life Insurance, a joint venture between Bajaj Finserv and Germany’s Allianz SE, is one of India’s leading private life insurers. The company is not part of JM Financial’s promoter group.JM Financial clarified that the stake sale is not a related-party transaction and does not form part of any scheme of arrangement.

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