JM Financial's subsidiary, JM Financial Credit Solutions, has completed the sale of a stake in its home loans arm, JM Financial Home Loans (JMFHLL), to Bajaj Allianz Life Insurance.

The deal involved selling 1.36 crore shares of JMFHLL at Rs. 48 each, totaling Rs. 65.50 crore.

This transaction reduces JM Financial's effective shareholding in JMFHLL from 98.76% to 96.66%. JMFHLL's income for FY25 was Rs. 368.45 Cr, contributing 8.27% to consolidated income.

This move strategically realigns the group's holdings.