The Hindu Business Line : JM Financial allots shares to 2 FIIs

JM Financial Ltd today informed the BSE that the Committee of Directors (CoD) at its meeting held on August 29 has allotted 12,26,667 equity shares of the face value of Rs 10 each at a price of Rs 639 per share to Blue Ridge Ltd Partnership (7,60,534 shares) and and Blue Ridge Offshore Master Ltd Partnership (4,66,133 shares).

With the current allocation, the total stake of Blue Ridge Ltd Partnership is around 6.88 per cent and that of Blue Ridge Offshore Master Ltd Partnership is around 4.21 per cent. Today's announcement is reportedly the regularisation of a company announcement made in June this year.

Post merger of JM Securities with JM Financial in May 06, the share capital of the company had gone up from Rs 15.5 crore to Rs 27.9 crore. However with the recent allotment, the share capital of the company has gone up to Rs 30 crore i.e. 3 crore shares of Rs 10 each.

It is not clear whether promoter holding stands diluted post this allotment. Incidentally, the shareholding pattern of the company as of June 30, 2006 is also not available on the BSE.

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