Valiant Capital, Blue Ridge Capital and Eton Park to invest in JM Financial Asset Management Company Pvt Ltd

JM Financial Ltd has announced that the Board of Directors of the Company at its meeting held on July 25, 2008, inter alia, has taken note of the proposed participation in the equity of JM Financial Asset Management Company Pvt Ltd (asset management Company), one of the subsidiaries of the Company by three institutional investors, namely, VALIANT CAPITAL PARTNERS, BLUE RIDGE CAPITAL and ETON PARK to the extent of 4% each at a premium on a fully diluted equity capital of the said subsidiary. The investors would be contributing Rs 111.7 crore giving a total post money valuation of Rs 931 crore which works out to 7.32% of the current assets under management. The investors have signed non-binding term sheets with the asset management Company. The said transaction is however subject to signing of the definitive agreements and to satisfactory receipt of all the regulatory and other approvals as may be required.

Source : Equity Bulls

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