Equity

JMJ Fintech Limited has approved several key changes and initiatives during a recent board meeting. The company authorized the issuance of secured, unrated, and redeemable non-convertible debentures with a total issue size of up to Rs 70 crore via a private placement. The debentures will have tenures and interest rates ranging from 10.50% to 13.40%, with a face value of Rs 10,000 each. Additionally, the board appointed Mrs. Shiny Joju as a director, bringing expertise in corporate governance and financial services, and approved changes in leadership roles for Mr. Johny Madathumpady Lonappan and Mr. Joju Madathumpady Johny, reflecting their extensive experience in the chit fund and finance industries. The company also disclosed details regarding the debenture trustee, IDBI Trusteeship Services Limited, and provided profiles of the newly appointed directors outlining their relevant experience and expertise.