The Securities and Exchange Board of India (Sebi) has issued an administrative warning to JM Financial for regulatory non-compliance. According to a regulatory filing by JM Financial, the warning was issued on January 2, 2025, in relation to the initial public offering (IPO) of equity shares by one of its clients, Western Carrier (India) Ltd.
“Issuance of administrative warning to the company in relation to the initial public offering of equity shares by one of its clients namely Western Carrier (India) Ltd,” it said.
The company added that there will be no impact on its financial performance, operations, or other activities.
(With PTI inputs)
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