JM Financial Products Ltd acquires stake in BigHaat

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JM Financial Products Limited (JM Financial Products), a major subsidiary of JM Financial Limited, has executed the document required to acquire mandatory convertible securities of Bighaat Agro Private Limited (“BigHaat”) in two tranches. Post-conversion, the acquisition, once completed, would result in JM Financial Products’ ownership of up to 12.8% in BigHaat.

The proposed acquisition by JM Financial Products is intended to transfer the entire stake in BigHaat (after taking into account the additional cost of ownership for the period it remains with JM Financial Products) to JM Financial India Growth Fund III, a program of JM Financial India Growth Trust III (a SEBI registered in Category II, Alternative Investment Fund) which is sponsored/managed by JM Financial Limited. This is subject to receipt of all required approvals, if and to the extent necessary.

BigHaat, together with its subsidiaries, owns and operates the agricultural input market. It provides an end-to-end platform for farmers by supplying them with quality inputs, offering agricultural advisory services and facilitating business linkages with large institutional buyers for the sale of their end product. Details of BigHaat can be viewed on their website viz., www.bighaat.com

Shares of JM Financial Limited were last trading in BSE at Rs. 65.10 from the previous close of Rs. 64.40. The total number of shares traded during the day was 77748 in over 1407 trades.

The stock hit an intraday high of Rs. 66.45 and intraday low of 63.60. Net turnover during the day was Rs. 5075126.00.

Source: Stock market bulls

Key words


JMFinancier
INE780C01023
JMFinancialProducts
StakeAcquisition
BighaatAgro

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