JM Financial Limited has disclosed the incorporation of a new wholly-owned step-down subsidiary, JM Financial (Middle East) Limited, in Abu Dhabi Global Market. The subsidiary was incorporated on October 12, 2026.
Ownership Structure
JM Financial (Middle East) Limited is a wholly-owned subsidiary of JM Financial Overseas Holdings Private Limited, which is itself a wholly-owned subsidiary of JM Financial Limited. The parent company will hold 100% of the share capital through this ownership chain.
Business Activities
The new subsidiary will carry out financial services activities including:
- Arranging deals in investments
- Arranging custody services
- Arranging credit facilities
- Advising on investments or credit
- Managing assets
Geographic Presence
The subsidiary is incorporated in Abu Dhabi, United Arab Emirates, operating within the Abu Dhabi Global Market jurisdiction.
Regulatory Approvals
Required approvals include registration with the ADGM Registration Authority and any other approvals as may be required for operations.
Financial Considerations
As a newly incorporated entity, no historical financial data (turnover, acquisition cost, or consideration) is applicable. The entity does not constitute a related party transaction, and the transaction is considered at arm's length.
Additional Information
The intimation has been uploaded on the company's website at https://jmfl.com/investor-relation/announcements.html and is signed by Hemant Vijay Pandya, Company Secretary & Compliance Officer of JM Financial Limited.