SEBI bars JM Financial Ltd from acting as Lead Manager for public issue of debt securities

Securities and Exchange Board of India (the "SEBI") has issued an Interim Ex Parte Order (the "Order") on March 7, 2024 barring the Company from taking any new mandate for acting as a lead manager for any public issue of debt securities. SEBI has further stated that the Company can continue to act as a lead manager for public issue of debt securities with respect to the existing mandates for a period of 60 days from the date of the said Order. A copy of the said Order issued by the SEBI in this regard is enclosed for your information.

SEBI shall undertake an investigation into the issues covered under the said Order and complete the same within a period of six months from the date of the said Order. The Company shall fully cooperate with SEBI in this investigation.

Shares of JM Financial Limited was last trading in BSE at Rs. 87.94 as compared to the previous close of Rs. 85.28. The total number of shares traded during the day was 1637342 in over 7496 trades.

The stock hit an intraday high of Rs. 88.79 and intraday low of 84.20. The net turnover during the day was Rs. 142235461.00.

Source : Equity Bulls

Keywords

JMFinancial INE780C01023 Barred LeadManager DebtSecurities PublicIssue SEBI