Description

JM Financial Services Limited has listed new debt securities on BSE Debt segment with two tranches maturing in 2027 and 2028, carrying interest rates of 8.40% and 8.49% respectively.

Summary

JM Financial Services Limited has listed new debt securities on BSE Debt segment effective November 20, 2025. The company issued two tranches of debt securities on private placement basis totaling Rs. 300 crores (20,000 units of Rs. 1 lakh each and 10,000 units of Rs. 1 lakh each). Both securities are rated ICRA AA/Stable and will trade only in dematerialized form.

Key Points

  • Two new debt securities listed on BSE Debt segment effective November 20, 2025
  • First Tranche (Scrip Code 977302): 20,000 units with 8.40% p.a. interest, maturing November 18, 2027
  • Second Tranche (Scrip Code 977303): 10,000 units with 8.49% p.a. interest, maturing November 17, 2028
  • Face value and issue price: Rs. 1,00,000 per unit for both tranches
  • Credit rating: ICRA AA/Stable for both securities
  • Date of allotment: November 18, 2025
  • Market lot: 1 unit for both securities
  • Tick size: 1 paise
  • No put/call options on either security

Regulatory Changes

No regulatory changes announced in this circular.

Compliance Requirements

  • Trading members must trade these securities only in dematerialized form under the specified ISIN numbers
  • ISIN INE012I07108 for the 2027 maturity tranche (Scrip ID: 840JFSL27)
  • ISIN INE012I07090 for the 2028 maturity tranche (Scrip ID: 849JFSL28)
  • Trading members should refer to the Placement Memorandum available at BSE’s debt memorandum section for complete details
  • Queries may be directed to BSE debt department at 22728352/8597/8995/5753/8915

Important Dates

  • Date of Allotment: November 18, 2025
  • Listing Date: November 20, 2025
  • First Interest Payment (2027 tranche): November 18, 2026
  • Redemption Date (2027 tranche): November 18, 2027
  • First Interest Payment (2028 tranche): November 18, 2026
  • Redemption Date (2028 tranche): November 17, 2028
  • Interest Payment Frequency: Annually for both tranches

Impact Assessment

This is a routine corporate debt listing with minimal market impact. The listing provides JM Financial Services Limited with diversified funding sources through private placement debt instruments. The ICRA AA/Stable rating indicates strong creditworthiness. Impact is limited to institutional investors and debt market participants who may consider these securities for fixed-income portfolios. The competitive interest rates (8.40%-8.49%) reflect current market conditions for AA-rated corporate debt with 2-3 year tenures.

Impact Justification

Routine listing of privately placed debt securities affecting only debt market participants and institutional investors