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The Reserve Bank of India (RBI) barred JM Financial Products Ltd from undertaking any form of business in shares and bonds funding due to regulatory violations and governance lapses, said a strongly worded letter issued by the banking regulator

RBI bars JM Financial Products from share and bond funding due to regulatory lapses, company has refuted regulators claims

The Securities and Exchange Board of India (Sebi)  barred JM Financial from acting as a lead manager for any public issue of debt securities due to a violation of regulations. The regulator has passed an interim order against the firm on this matter. This comes after the Reserve Bank of India (RBI) barred JM Financial Products Ltd from doing any form of financing against shares and debenture..due to certain serious deficiencies with respect to loans sanctioned by the company for IPO financing as well as NCD subscriptions.

Sebi bars JM Financial from acting as lead manager for public debt issues

The Group’s loan portfolio largely comprises wholesale lending, increases concentration risks.

The large ticket size exposures and high concentration in the loan book, coupled with the inherent risk profile of these asset classes, could result in a sharp deterioration in the asset quality in case of slippages.

The risk-averse sentiment of lenders/investors towards real estate lenders has constrained the ability of wholesale/real estate-oriented financers to mobilize long-term resources from diversified sources.

The issuer has made timely interest payments.

Mr. V. P. Shetty, Chairman

Mr. Vishal Kampani, MD

It is one of the leading entities in the capital markets and related businesses with a key focus on investment banking and merchant banking operations and has been a part of many marquee deals.

The Group is a diversified financial services entity with a presence in investment banking, securities equity broking, wealth management, investment advisory services, portfolio management, asset management, wholesale and retail lending, private equity and asset reconstruction.

The Group’s capitalization profile remains healthy, with lower leverage compared to peers, and provides adequate cushion against losses if required.

The Group’s total income declined marginally to Rs. 3,227 crores in FY2021 from Rs. 3,454 crores in FY2020 owing to a moderation in the performance across businesses.

8.20%JM Financial Products Limited 07 Oct 2026

ISIN:

INE523H07BO4

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JM Financial Products Limited

Recent News

RBI bars JM Financial Products from share and bond funding due to regulatory lapses, company has refuted regulators claims

Sebi bars JM Financial from acting as lead manager for public debt issues

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