JM Financial Limited, a SEBI-registered Merchant Banker, disclosed that it has received an administrative warning letter from the Securities and Exchange Board of India (SEBI). The letter, dated January 1, 2025, pertains to the initial public offering (IPO) of equity shares by one of its clients, Western Carrier (India) Limited.
The communication was received on January 2, 2025, at 2:30 PM and highlights alleged contraventions mentioned in the SEBI letter. JM Financial clarified that the warning has no financial, operational, or other impact on the company’s activities.
This disclosure has been made in compliance with Regulation 30 read with Schedule III of the SEBI Listing Obligations and Disclosure Requirements (LODR).
JM Financial Limited shares opened at ₹133.00 today, reaching a high of ₹135.22 and a low of ₹132.00. The stock’s 52-week range spans from a high of ₹168.75 to a low of ₹69.00, reflecting notable volatility.
