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JM Financial (JMFL) has entered into an agreement with JM Financial Credit Solutions Ltd (JMFCSL) to infuse up to ₹ 875 crore in the NBFC. This is at a pre-money equity valuation of ₹ 6,300 crore implying a post-money equity valuation of upto ₹ 7,175 crore. The Fund Raise will increase the networth of JMFCSL by 50 per cent and further strengthen the balance sheet of JMFCSL to meet its growth requirement. “The fund raise is in line with our philosophy to be conservatively leveraged and maintain strong liquidity cushions within the JMFL Group. We have continuously endeavoured to diversify our funding sources in JMFCSL through a public issue of bonds in May 2018," Vishal Kampani, Managing Director, JM Financial Group, said. "The group has successfully raised ₹ 1,379 crore worth of equity funds till date in the calendar year 2018," he added.
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