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

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 submitting on Sunday, JM Financial stated JMFCSL has signed an funding settlement with Bajaj Allianz Life to sell 1.36 crore fairness shares of JM Financial Home Loans Ltd (JMFHLL) at Rs 48 apiece, representing a 2.10% stake, PTI reported.The transaction, anticipated to close by August 31, will decrease JMFCSL’s holding in JMFHLL from 8.98% to 6.88%. (*31*), JM Financial’s efficient stake in the home loans unit, by subsidiaries, will cut back from 98.76% to 96.66%.JMFHLL reported a complete revenue of Rs 368.45 crore for the monetary yr ended March 31, 2025, contributing 8.27% to JM Financial’s consolidated revenue. Its internet price stood at Rs 797.43 crore, accounting for 8.24% of the group’s consolidated internet price.Bajaj Allianz Life Insurance, a three way partnership between Bajaj Finserv and Germany’s Allianz SE, is one among India’s main non-public life insurers. The firm will not be a part of JM Financial’s promoter group.JM Financial clarified that the stake sale will not be a related-party transaction and doesn’t kind a part of any scheme of association.