JM Financial`s arm to acquire compulsorily convertible securities of Bighaat Agro
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
JM Financial’s material subsidiary -- JM Financial Products has executed the required document to acquire compulsorily convertible securities of Bighaat Agro (BigHaat) in two tranches. Post conversion, the acquisition when made, would result in JM Financial Products’ shareholding of upto 12.8% in BigHaat.
The proposed acquisition by JM Financial Products is with the intention to transfer the entire holding in BigHaat (after factoring the additional carrying cost for the period it remains with JM Financial Products) to JM Financial India Growth Fund III, a scheme of JM Financial India Growth Trust III (a SEBI registered Category II, Alternative Investment Fund) that is sponsored/managed by JM Financial.
BigHaat, along with its subsidiaries, owns and operates the agri-input marketplace. It provide an end to end platform to the farmers providing them quality inputs, offering farm advisory services and facilitating market linkages with large institutional buyers for sale of their final produce.
JM Financial is an integrated financial services group offering a wide range of capital market services to its corporate and individual clients.
