Bajaj Allianz Life Insurance has acquired about 2.1% of JM Financial Home Loans from JM Financial Credit Solutions, a unit of JM Financial, for ₹65.5 crore.
The insurer bought 13.65 million shares at ₹48 apiece, according to an exchange filing. Post-transaction, JM Financial Credit Solutions’ stake in the home loan arm will fall to 6.88% from 8.98%, while JM Financial’s effective holding, through its subsidiaries, will decline to 96.66% from 98.76%. The agreement was signed on August 9 with the deal expected to close by August 31.
JM Financial Home Loans posted ₹368.4 crore in total income in the year ended March 31, 2025, accounting for 8.27% of the parent’s consolidated revenue. Its net worth was ₹797.4 crore, or 8.24% of group equity, as of March 31, 2025.
