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JM Financial unit to acquire stake in Indian P2P lender

JM Financial Ltd.said unit JM Financial Products Ltd. agreed to acquire a stake in Fairassets TechnologiesIndia Pvt. Ltd.

JM Financial Products plansto acquire a 9.84% stake in Fairassets Technologies India, which operates a virtualpeer-to-peer lending marketplace, JM Financial said May 10.

The value of the deal was not disclosed.