India Authorities Investigate Merchant Banks on Retail Subscriptions for Public Bonds, Leading India Investment Bank JM Financial Banned from Managing New Public Bonds for Using Related Entities to Inflate Subscriptions & Providing Guaranteed Selling after Allocation, JM Financial Non-Banking Units Instructed to Stop Providing Financing Against Shares, Debentures & Loans for IPO Subscriptions
9th March 2024 | Hong Kong
India authorities are investigating merchant banks on retail subscriptions for public bonds, with leading India investment bank JM Financial banned from managing new public bonds for using related entities to inflate subscriptions & providing guaranteed selling after allocation. JM Financial non-banking units had also been instructed to stop providing financing against shares, debentures & loans for IPO subscriptions. India authorities conducting the investigations include Securities & Exchange Board of India (SEBI), and India central bank Reserve Bank of India (RBI). JM Financial is an integrated and diversified financial services group. The Group’s primary businesses include (a) Investment Bank (IB) shall cater to Institutional, Corporate, Government and Ultra High Networth clients and includes investment banking, institutional equities and research, private equity funds, fixed income, syndication and finance; (b) Mortgage Lending includes both wholesale mortgage lending and retail mortgage lending (home loans, education institutions lending and LAP); (c) Alternative and Distressed Credit includes the asset reconstruction business and alternative credit funds; and (d) Asset management, Wealth management and Securities business (Platform AWS) shall provide an integrated investment platform to individual clients and includes wealth management business, broking, PMS and mutual fund business.
“ India Authorities Investigate Merchant Banks on Retail Subscriptions for Public Bonds, Leading India Investment Bank JM Financial Banned from Managing New Public Bonds for Using Related Entities to Inflate Subscriptions & Providing Guaranteed Selling after Allocation, JM Financial Non-Banking Units Instructed to Stop Providing Financing Against Shares, Debentures & Loans for IPO Subscriptions “
India Authorities Investigate Merchant Banks on Retail Subscriptions for Public Bonds, Leading India Investment Bank JM Financial Banned from Managing New Public Bonds for Using Related Entities to Inflate Subscriptions & Providing Guaranteed Selling after Allocation, JM Financial Non-Banking Units Instructed to Stop Providing Financing Against Shares, Debentures & Loans for IPO Subscriptions
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- June 2024 - Hong Kong
- June 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Investment Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
