The financial services firm has set a floor price of Rs 66.72 per equity share for the QIP issue. The company may consider offering a discount of upto 5% on the floor price so calculated for the issue. The issuance committee of the board will meet on 12 May 2020 to consider and approve the QIP issue price.

"Our company intends to use the net proceeds for long term capital requirements of the company and its subsidiaries for varied purposes", JM Financial said in its draft offer document.

JM Financial is a holding company, operating as a core investment company. It offers customized financial solutions to a range of client base. Its segments include investment banking and securities business, fund-based activities, alternative asset management and asset management.

The company's consolidated net profit rose 1.49% to Rs 130.56 crore on a 6.12% rise in total income to Rs 840.58 crore in Q4 March 2020 over Q4 March 2019.