JM Financial: Focus on fund-raising plans

The board of JM Financial will meet on Monday to consider fund-raising plans. Among the fund-raising options are issue of equity shares or any other instrument or security including fully/partly convertible debentures or any other eligible securities through qualified institutional placement. The company had posted a 27 per cent rise in consolidated net profit at ₹145.84 crore for the second quarter ended September 30, thanks to fund-based businesses.