JM Financial Limited — Board Meeting, 17-03-2025: Outcome of Board Meeting

JM Financial Limited's Board has approved a Business Transfer Agreement with its wholly-owned subsidiary, JM Financial Services Limited, for the transfer of the Private Wealth business through a slump sale, effective April 1, 2025. The division contributed ₹56.09 Cr in revenue, accounting for 6.84% of the company's total, with a net worth of ₹33.78 Cr (0.82% of total net worth). The consideration for the sale is set at ₹11.08 Cr, subject to adjustments based on the book value as of March 31, 2025. This strategic move aims to streamline operations and enhance service synergies within the JM Financial Group.