JM Financial to raise Rs 1,000 cr by issuing bonds

Financial services firm JM Financial today said it will raise Rs 1,000 crore by issuing non-convertible bonds.
The shareholders of the company had approved a plan to raise the amount at the annual general meeting held on August 2, it said in a regulatory filing.
The company said approval of shareholders was granted as a special business agenda for "issue of redeemable non-convertible debentures for an amount aggregating up to Rs 1,000 crore."
Earlier this week, the company reported an increase of 19 per cent rise in consolidated net profit at Rs 86.09 crore in the first quarter ended June 30 as against Rs 72.35 crore in the corresponding period of previous fiscal.

Total income in the June quarter rose 24 per cent to Rs 475.43 crore compared to Rs 383.02 crore.
JM Financial stock closed 0.22 per cent up at Rs 66.95 on BSE.