JM Financial Home Loans, Indostar Capital explore potential strategic options
Apr 24, 2023
New Delhi [India], April 24 : JM Financial Home Loans Limited on Monday announced it is engaged with Indostar Capital Finance for preliminary discussions to explore various potential strategic options.
The considerations include the combination and listing of the retail mortgage portfolio of JM Financial and the home finance business of Indostar Home Finance Private Limited including other mortgage-backed businesses of Indostar, it said on Monday.
JM Financial has a long-term strategic interest in the home loan and such mortgage-backed businesses and it looks forward to scaling these businesses to the next phase of its growth, The discussions are currently at a preliminary stage and non-binding in nature, it said in a release.
"The discussions are currently at a preliminary stage and non-binding in nature. Any transaction concerning JM Financial and Indostar will be subject to satisfactory due diligence, negotiation of commercial terms, execution of definitive agreements and receipt of all relevant regulatory and other approvals," it added.
JM Financial Home Loans Limited received the registration in November 2017 and is currently focusing on affordable housing finance and small ticket loan against properties.
As of December 2022, it expanded to 78 branches across the states of Maharashtra, Gujarat, Rajasthan, Tamil Nadu,
Telangana, Karnataka, Andhra Pradesh, Chattisgarh and Madhya Pradesh with a loan book of Rs 1,181 crore and Asset Under Management worth Rs 1,272 crore.
