JM Financial gets shareholders' nod to raise up Rs 850 cr

New Delhi, Feb 14 () JM Financial Ltd on Friday said it has received shareholders' approval to raise up to Rs 850 crore through issuance of securities.

In a regulatory filing the company said that at its annual general meeting (AGM) held on Wednesday, shareholders have given approval to raise Rs 850 crore.

The company further said that 99.94 per cent votes were cast in favour of the special resolution.

Shareholders have also approved the resolution to "increase investment limits by the Foreign Portfolio Investors (FPIs) from 24 per cent to 40 per cent of the paid-up equity share capital of the company", the filing said.

Shares of the company were trading at Rs 113.10 a piece on BSE, down 1.74 per cent from the previous close. SID DRR