JM Financial arm’s fund-raising eyed

The stock of JM Financial will remain in focus, as its material subsidiary JM Financial Products plans to raise ₹1,000 crore through non-convertible debentures. While the base issue size is ₹200 crore, the company will retain ₹800 crore in case of oversubscription. The company is offering bonds with maturity periods of two, three and five years with coupons ranging from 9.90 per cent to 10.50 per cent. The issue, which will close on May 21, would be listed on the BSE.