JM Financial Asset Management raises ₹100 crore for expansion, growth, and enhanced customer service in mutual fund industry
JM Financial Asset Management Ltd has raised ₹100 crore via a partly paid rights issue with the first tranche of ₹50 crore being raised already and the remaining ₹50 crore to be raised on call as per requirement.
The funds raised will be deployed towards the expansion of JM Financial Asset Management Ltd.
Amitabh Mohanty, Managing Director and Chief Executive Officer, JM Financial Asset Management Ltd, said: “Over the last three years, we have been focussing on building the JM Financial Mutual Fund brand through increasing our distributor outreach and physical touchpoints via our branch presence across the country. This capital raised will help us accelerate growth, enhance technology and elevate customer service, delivering even greater value to our partners and investors.”
With this support, we are now poised to scale even greater heights, he added.
Vishal Kampani, Vice Chairman and Managing Director, JM Financial, said: The capital infusion is in line with our vision to fuel broad-based growth, enabling us to invest in talent, innovation, and technology. It reaffirms our long-term commitment to grow JM Financial Mutual Fund so that it takes its rightful place in the mutual fund industry.”
Published on April 4, 2025