JM Financial arm to raise up to Rs 500 cr

JM Financial said its subsidiary JM Financial Products Ltd will raise up to Rs 500 crore by issuing bonds.

JM Financial Products Limited (JMFPL) has filed the Tranche II prospectus for its non-convertible debentures (NCDs), with the Registrar of Companies, BSE and Sebi, JM Financial said in a filing.

"The said Tranche II prospectus is dated July 31, 2019 and pertains to the public issue of secured NCDs with a base issue size of Rs 100 crore with an option to retain oversubscription up to Rs 400 crore aggregating up to Rs 500 crore, which is within the shelf limit," JM Financial said in the filing.