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| Exchange Received Time 01/09/2017 20:59:24 Exchange Disseminated Time 01/09/2017 20:59:32 Time Taken 00:00:08 | Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015, we wish to inform you that JM Financial Products Limited (JM Financial Products), a subsidiary of the Company, has today executed the agreement(s) to acquire equity shares/compulsorily convertible securities of Vendiman Private Limited ('Vendiman') in two tranches. Post conversion, on a fully diluted basis, the said acquisition would result in the holding of upto 41.21%.
The proposed acquisition by JM Financial Products is with the intention to transfer the entire equity stake in Vendiman (after factoring the carrying cost for the period it remains with JM Financial Products) to a Fund/Trust that is sponsored/managed by JM Financial Investment Managers Limited, the asset management company for Alternative Assets business in the JM Financial Group. This is subject to receipt of all the required approvals, if and to the extent required.
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