JM Financial's subsidiary, JM Financial Credit Solutions, is divesting a 2.10% equity stake in its home loans arm, JM Financial Home Loans (JMFHLL), to Bajaj Allianz Life Insurance.

The sale of 1.36 crore shares is valued at Rs. 65.50 crore.

This transaction will slightly reduce JM Financial's effective holding in JMFHLL from 98.76% to 96.66%. It brings in a new financial partner, potentially supporting JMFHLL's future growth while retaining majority control.