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JM Financial ARC to beef up war chest for buying stressed assets

By Beena Parmar

  • 02 Aug 2019
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JM Financial ARC to beef up war chest for buying stressed assets
Credit: 123RF.com

JM Financial Asset Reconstruction Company Ltd, India's second-biggest buyer of bad loans, plans to mobilise fresh capital to ramp up business as banks continue to shed toxic assets. The Mumbai-based company will raise Rs 200 crore ($28.9 million) via equity instruments or compulsorily convertible debentures by September, managing director and CEO ......

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