JM Financial: Disclosure Under Regulation 30 Of SEBI LODR (The 'Listing Regulations') | Value Research

JM Financial: Disclosure Under Regulation 30 Of SEBI LODR (The 'Listing Regulations')

Pursuant to Regulation 30 of the Listing Regulations we wish to inform you that JM Financial Products Limited (JM Financial Products) a material subsidiary of the Company has executed the required agreements to acquire equity shares and compulsorily convertible preference shares (the CCPs) of Silveredge Technologies Private Limited (the Silverpush) in two tranches. Subsequent to the acquisition of the equity shares and the conversion of CCPs as above the shareholding of JM Financial Products in Silverpush would be up to 12.4%.The proposed acquisition by JM Financial Products is with the intention to transfer the entire holding in Silverpush (after factoring the additional carrying cost for the period it remains with JM Financial Products) to JM Financial India Growth Fund III a scheme of JM Financial India Growth Trust III (a SEBI registered Category II Alternative Investment Fund) that is sponsored/managed by JM Financial Limited.

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