India’s JM Financial board approves up to Rs. 6.5 billion of new debt

By Tali Rackner

Minneapolis, Dec. 18 – JM Financial Ltd. informed the Bombay Stock Exchange that its board of directors met on Monday and approved raising up to Rs. 6.5 billion of new funds.

The debt will be in the form of equity shares or any other debt instrument, including fully and/or partly convertible debentures or a composite issue of nonconvertible debentures and warrants.

The funds may be issued by way of qualified institutions placement, private placement, public issue, preferential issue or through any other permissible mode or combination.

JM is a financial services group based in Mumbai.

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