JM Financial to Sell 2.1% Stake in Home Loan Arm to Bajaj Allianz Life for ₹65.5 Crore

JM Financial Credit Solutions Ltd (JMFCSL), a wholly-owned subsidiary of JM Financial Ltd, has entered into an agreement to divest a 2.1% stake in JM Financial Home Loans Ltd (JMFHLL) to Bajaj Allianz Life Insurance Company Ltd for ₹65.50 crore. The transaction, scheduled for completion by August 31, 2025, involves the sale of 1,364,600 equity shares at ₹48 per share. Post-sale, JMFCSL’s ownership in JMFHLL will drop from 8.98% to 6.88%, while JM Financial’s overall stake in its housing finance arm—held through various subsidiaries—will decrease from 98.76% to 96.66%. The move is in line with the company’s strategic objectives and complies with SEBI regulations. JMFHLL contributed 8.27% (₹368.45 crore) to JM Financial’s total revenue in FY25 and held a net worth of ₹797.43 crore, or 8.24% of the group’s consolidated net worth. This development comes amid a major ownership shift at Bajaj Allianz Life, following Allianz SE’s exit from its Indian insurance joint ventures. In March 2025, Allianz agreed to sell its 26% stake in both life and general insurance arms to Bajaj Finserv and its partners for ₹24,180 crore. The CCI approved the deal in May 2025, paving the way for Bajaj Group to take full control. The stake purchase by Bajaj Allianz Life reflects continued investor interest in financial services assets, while JM Financial streamlines its portfolio amid evolving market dynamics.