Group Companies

JM Financial is an integrated financial services group, offering a wide range of services to a significant clientele that includes corporations, financial institutions, High Net-worth Individuals and retail investors.

The Group has interests in investment banking, institutional equity sales, trading, research and broking, private and corporate wealth management, equity broking, portfolio management, asset management, commodity broking, NBFC (Non-Banking Finance Company) activities, private equity and asset reconstruction.While each of these businesses is independent in itself, the Group's belief of trust being the most important factor for the organisation is the common thread that unifies them all. The values of integrity, teamwork, innovation, performance and partnership shape the corporate vision and drive it to its purpose. They also help each of the individual businesses to align their respective goals and objectives to those of the Group.

GroupCompanies
JM Financial Limited

JM Financial Limited (JM Financial), is the flagship listed company of the Group.

JM Financial is an operating cum holding company and is engaged in various financial services businesses on its own and through its subsidiary and associate companies forming a well-diversified yet integrated financial services group known as JM Financial. JM Financial holds  investments in its subsidiaries that are engaged in various businesses, namely, Non Banking Financial Services, Asset Reconstruction, Equity Research, Equity Broking to Institutional and non Institutional  Investors, Wealth Management advisory, Mutual Funds  Asset Management, etc.

The businesses undertaken by JM Financial Limited are as follows:

Investment Banking Business

JM Financial is one of the oldest merchant bankers in the country and provides wide range of services – capital raising, mergers & acquisitions, private equity and restructuring advisory – to a diversified client base of Indian and multinational corporates in the domestic and international markets. The services revolve around three main offerings.

    • Mergers & Acquisitions and Restructuring
    • Capital Markets
    • Private Equity Syndication

Private Equity Fund Management Business

JM Financial Limited serves as an investment manager for the Private Equity Funds sponsored by JM Financial

JM Financial India Fund

The Fund is focused on providing growth capital to dynamic, fast-growing, unlisted companies in India. The Fund is a broad based, multi-sector fund that seeks to invest in companies that can leverage the domestic consumption story and the outsourcing opportunity in India. The Fund is focused on investing in retail, FMCG, manufacturing, pharmaceutical, healthcare, financial services, logistics and Business Process Outsourcing (BPO) sectors.

The Fund has committed around 100% of the total commitment across multiple companies in the high-end fashion retail segment, auto-components, farm-equipment, financial services, knowledge process outsourcing (KPO) and offshore logistics sectors and has had many exits.

JM Financial India Trust II

JM Financial India Trust II, a SEBI registered Category II AIF. JM Financial India Trust II (“Fund II”) is established as a trust under the Indian Trust Act, 1882 and registered with the Securities and Exchange Board of India (“SEBI”), under the SEBI (Alternative Investment Funds) Regulations, 2012. Similar to the first Fund, Fund II is an India focused private equity fund, providing growth capital to dynamic and fast growing mid-market companies in India.

Fund II targets to raise a total corpus of Rs. 1,000 Crore and is in the process of raising capital. Currently, the focus is more on domestic fund raising. Potential investors include institutions, families and HNIs, and we are strategically targeting a higher institutional investor base than in Fund I.

The Fund II has received an initial capital commitment from its Sponsor JM Financial Limited of Rs. 100 Crore. Additional capital commitments from other investors have also been received.

The Board of Directors of JM Financial consists of

  • Mr. Nimesh Kampani – Non Executive Chairman

  • Ms. E A Kshirsagar - Non Executive & Independent Director
  • Mr. Darius E Udwadia - Non Executive & Independent Director
  • Mr. Paul Zuckerman - Non Executive & Independent Director
  • Dr. Vijay Kelkar - Non Executive & Independent Director
  • Mr. Keki Dadiseth - Non Executive & Independent Director
  • Ms. Jagi Mangat Panda - Non Executive & Independent Director
  • Mr. Vishal Kampani - Managing Director

JM Financial Services Limited

JM Financial Services represents the Investment Advisory business of JM Financial Group and focusses on Investment Advisory and Wealth Management businesses for non-institutional clients. It provides comprehensive financial planning, research-based investment consulting services and execution capabilities across three asset classes – equities, fixed income and currencies.
The business is organised in three main divisions:

  • Equity Brokerage Group
  • Wealth Management Group
  • Independent Financial Distribution Group.

These divisions draw on the full spectrum of the group's resources, research base and expertise to generate investment ideas and develop customised investment solutions for clients. These solutions incorporate a wide range of financial products to meet individual client needs, both short-term and long-term.

The current Board of Directors of JM Financial Services Ltd consists of

  • Mr. Nimesh Kampani - Non-executive Director
  • Mr. Vishal Kampani - Non-executive Director
  • Ms. Dipti Neelakantan - Non-executive Director
  • Mr. Hemant M Kotak - Non-executive Director
  • Mr. Anil Mavinkurve - Whole-time Director
  • Mr. Keki Dadiseth - Independent Director
  • ​Dr. Anup Shah - Independent Director

JM Financial Institutional Securities Limited (Formerly known as JM Financial Securities Limited)

JM Financial Institutional Securities Limited (Formerly known as JM Financial Securities Limited) conducts Institutional Equities business wherein it offers quality research and analysis-based broking services to its domestic and offshore institutional clients. It is a trading member of the Bombay Stock Exchange Ltd. (BSE) and National Stock Exchange of India Limited (NSE) and also a SEBI registered research analyst. The broad activities covered by the Company include the following:

    • Research
    • Sales
    • Sales and Trading

The Board of Directors of JM Financial Institutional Securities Ltd consists of

  • Mr. Vishal Kampani - Non-Executive Director
  • Ms. Dipti Neelakantan - Non-Executive Director
  • Mr. Richard Liu - Whole-Time Director
  • Mr. Samir Shah - Whole-Time Director

JM Financial Capital Limited

JM Financial Capital Limited (JMFCL) is a wholly owned subsidiary of JM Financial Services Limited.

JMFCL is non-banking finance company registered with the Reserve Bank of India. JMFCL provides capital market funding and offers products like loan against securities which inter-alia includes margin funding, ESOP financing, loan against commodities/bonds/mutual funds, loan against properties, etc. It also provides financing to the clients for applications in select primary issuances in the equity and debt markets (IPO funding).

The current Board of Directors of JMFCL consists of:

  • Mr. Vishal Kampani – Non-Executive Chairman
  • Mr. Subodh Shinkar – Non-Executive Director
  • Mr. Vipul Shah – Non-Executive Director
  • Ms. Sonia Dasgupta – Non-Executive Director
  • Dr. Anup Shah – Independent Director​

The present BPLR rate is 10.95%

JM Financial Commtrade Limited

Commtrade represents the Commodities Broking Business of the Group.

In the Commodities broking business, the focus is on providing research based advice to clients on bullion, base metals, crude and other soft commodities. The business with its strong research base and excellent execution platform with membership of Multi Commodity Exchange, NCDEX and National Spot Exchange of India, is well positioned to be a preferred broker for corporates and High Net-worth Individuals. The commodity broking platform is offered to own direct clients as well as clients of franchisees.

The current Board of Directors of JM Financial Commtrade Ltd consists of

  • Mr. Rajeev Chitrabhanu - Non-Executive Chairman
  • Mr. P K Choksi - Non-Executive Director
  • Mr. Subodh Shinkar - Non-Executive Director
  • Mr. S R Nayak - Non-Executive Director

JM Financial Products Limited

JM Financial Products Ltd. (“JMFPL”) is the Non-Banking Finance Company (NBFC) of the JM Financial Group. It is a non-deposit accepting non-banking finance company registered with the Reserve Bank of India. The company enjoys the highest short-term credit rating of A1+ from CRISIL. 

During the year, the firm was assigned the rating of “[ICRA] A1+” (highest grading) rating for the Commercial Paper program and “[ICRA] AA / Stable” rating for long term NCD issuances and bank loan rating. CRISIL re-affirmed the “CRISIL A1+” (highest grading) rating for the Commercial Paper program as well its “CRISIL AA / Stable” rating for long term NCD issuances and bank loan rating. The ratings indicate that the ability of the firm in making timely payments of principal and interest as well as high degree of safety of the instruments. 

The current Board of Directors of JM Financial Products Ltd consists of

  • Mr. V P Shetty - Non-executive Chairman
  • Mr. Vishal Kampani - Managing Director
  • Mr. E A Kshirsagar - Independent Director
  • Mr. Dhirendra Singh - Independent Director
  • Ms. Roshini Bakshi - Independent Director
  • Mr. M R Umarji - Non-Executive Director
  • Mr. Atul Mehra - Non-Executive Director
  • Mr. Subodh Shinkar - Non-Executive Director

JM Financial Credit Solutions Limited

JM Financial Credit Solutions Limited, the NBFC arm of JM Financial Limited, mainly looks at providing an integrated financial solution to real estate developers. The main focus of the business is to provide funding to the real estate projects, however we also look at arranging financing through debt syndication as well as distribution of Non-Convertible debentures to High Networth Individuals. We also look at leveraging our strong relationships with the developer community by showcasing land buying transactions to them as well as helping them monetize their inventory through our wide base of HNI customers – thus working towards building the fee income business. We intend to serve the sector at every touch point to enable us to have a closer understanding of the business which would help the loan underwriting process.

This business mainly looks at funding real estate developers at various stages in the life cycle of a real estate project. We look at various products and structured deals which include:

  • Loan Against Ready property
  • Construction Funding
  • Lending towards Land Acquisition
  • Structured deals

Over the years we have been able to develop strong relationships with all the major real estate developers across markets like Mumbai, Bengaluru, Pune and Chennai. The focus of the team going forward, will continue to be to grow the book cautiously by adding new clients or new markets to the portfolio, without compromising on the standards of the asset quality.

The current Board of Directors of JMFSCL consists of

  • Mr. Vikram Pandit – Non executive Chairman
  • Mr. Hariharan Aiyar – Non executive Vice Chairman
  • Mr. V P Shetty - Non executive Director
  • Ms. Dipti Neelakantan - Non executive Director
  • Mr. Darius E Udwadia – Independent Director
  • ​Dr. Anup Shah – Independent Director​

The present BPLR is ​12.25%

JM Financial Asset Reconstruction Company Limited

The focus of this business is on acquisition of non-performing and distressed assets from banks and financial institutions. The business strategy is a mix of both, portfolio acquisitions as well as single credits. ARC has participated in various portfolio auctions conducted by banks / financial institutions and has also ventured into the retail segment of the distressed debt market by acquiring the stressed credit card portfolio of one of the banks.

The current Board of Directors of JM Financial Asset Reconstruction Company Limited consists of

  • Mr. V P Shetty - Non-Executive Chairman
  • Mr. Narotam Sekhsaria – Non-Executive Director
  • Mr. H N Sinor – Independent Director
  • Mr. G M Ramamurthy - Independent Director
  • Mr. Shailesh Haribhakti - Independent Director
  • Dr. Anil Khandelwal - Independent Director
  • Mr. Pulkit Sekhsaria - Non-Executive Director
  • Ms. Rupa Vora - Independent Director
  • Mr. Adi Patel - Non-Executive Director
  • Mr. Anil Bhatia - Managing Director & CEO

JM Financial Home Loans Limited

JM Financial Home Loans represents the housing finance arm of the group. It commenced operations in 2017 with a focus on affordable housing finance. It offers the whole gamut of housing finance products including various kinds of home loans and loans against residential property. It will have strong synergies with the established real estate-focused businesses of the group and will leverage its competencies – service and speed – with technology to develop a successful business model.

The current Board of Directors of JM Financial Home Loans Ltd consists of

  • Mr. V.P. Shetty - Chairman
  • Mr. Manish Sheth - Managing Director and Chief Executive Officer
  • Ms. Tara Subramaniam - Non-executive Director

Infinite India Investment Management Limited

Infinite represents the Real Estate Fund Management business of the Group. Infinite serves as an investment manager for JM Financial Property Fund.

JM Financial Property Fund was launched in March 2007 and has ever growing AUM. The Fund has invested in residential, hospitality and mixed use development assets at individual project or holding level development companies across Mumbai, Bangalore, Pune, Kolkata and a few leading Tier II cities. The Fund aims at being a value creator by following a disciplined approach towards investing and establishing long term partner status with its portfolio companies. It provides strong value addition to portfolio partners in business development, capital markets strategy, design and project management through a strong in-house team and preferred partnerships

The current Board of Directors of Infinite India Investment Managers Ltd consists of

  • Mr. Vishal Kampani - Non-Executive Chairman
  • Ms. Dipti Neelakantan - Non-Executive Director
  • Mr. P K Choksi - Non-Executive Director
  • Mr. Ranganath Char - Non-Executive Director

JM Financial Asset Management Limited

JM Financial Asset Management represents the Mutual Fund business of the Group. It commenced operations in 1994 and is one of the oldest private sector mutual funds in the country. It has a base of over 15,000 distributors across India, covering multiple locations. Numerous investor service centres across India offer excellent service / support to our customers. This business offers a range of over 22 products across the entire risk-return spectrum, to lakhs of investor folios, both institutional and individual.

JM Financial Asset Management and the Mutual Fund have been awarded and recognised on a number of occasions for fund management expertise.

The current Board of Directors of JM Financial Asset Management Ltd consists of

  • Mr. V P Shetty - Non-Executive Chairman
  • Mr. Darius Pandole - Non-Executive Director (Associate Director)
  • Mr. G M Ramamurthy - Independent Director
  • Mr. Rajendra Chitale - Independent Director
  • Mr. V P Singh - Independent Director

 

JM Financial Trustee Company Private Limited

Trustee was incorporated in June 9, 1994. The company is into trusteeship business and acts as trustees to Mutual Fund, Private Equity and Real Estate funds.

The current Board of Directors of JM Financial Trustee Company Pvt Ltd consists of

  • Mr. Nimesh Kampani - Non-Executive Chairman
  • Mr. Anant Setalvad - Independent Director
  • Mr. Sharad Kulkarni - Independent Director
  • Mr. Darius Udwadia - Non-Executive Director
  • Dr. R. Srinivasan - Independent Director
  • Mr. Vivek Jetley - Independent Director

JM Financial Properties & Holdings Limited

The main objective of the company is to acquire, develop, take in exchange, lease or on hire whether for investment or sale;any movable and/or immovable property. The Company operates as a full-fledged business service centre.

The main revenue of the company is from the business service centre fees, received from the group companies. The Company has appointed an Administrative Manager to look after all administrative matters, Information Technology professionals to take care of the basic IT related services, a Receptionist and a Contractor exclusively engaged in the business of providing security, housekeeping services and routine electrical maintenance.


The current Board of Directors of JM Financial Properties & Holdings Ltd consists of

  • Mr. S R Nayak - Non-Executive Director
  • Mr. Anil Salvi - Non-Executive Director
  • Mr. V Subramonian - Independent Director
  • Ms. Madhu Dubhashi - Independent Director

CR Retail Malls (India) Limited

CR Retail Malls (India) Limited is engaged in leasing commercial real estate property. The company has a property of 65,125 square feet (sq. ft.), which is a seven-screen multiplex theatre with a seating capacity of 2000 people at Phoenix Mills compound, Lower Parel, Mumbai (Maharashtra). The said property is given on a long term lease for 18 years, with a lock-in period of 10 years. JM Financial Group acquired the company in May 2011.

The current Board of Directors of CR Retail Malls (India) Ltd consists of

  • Mr. P K Choksi - Non-Executive Director
  • Mr. Ranganath Char - Non-Executive Director
  • Mr. V Subramonian - Independent Director
  • Ms. Madhu Dubhashi - Independent Director

JM Financial Overseas Holdings Private Limited

JM Financial Overseas Holdings Private Limited (JMFOHPL) is a subsidiary of JM Financial Limited.

JMFOHPL was incorporated in 2008, in Mauritius. It is registered with Financial Services Commission as a Global Business License - Category 1 Company and as an Investment Holding Company. In 2010, it was registered as an Investment Advisor. Since then, the company holds an investment advisory license with Financial Services Commission, Mauritius.

The current Board of Directors of JM Financial Overseas Holdings Pvt Ltd consists of

  • Mr. Yacoob Ayoob M H A Ramtoola - Non-Executive Director
  • Mr. Poovazhagan Soobramanien - Non-Executive Director
  • Mr. Manogaran Thamothiram - Non-Executive Director
  • Mr. P K Choksi - Non-Executive Director

 

 

JM Financial Singapore Pte. Ltd.

JM Financial Singapore Pte. Ltd. (JMFSPL), a company incorporated in Singapore, is a subsidiary of JM Financial Overseas Holdings Private Limited (JMFOHPL).  It is a holder of Capital Markets Services Licence and regulated by the Monetary Authority of Singapore.  
 
JMFSPL focuses on corporate finance advisory & capital raising activities. These services are targeted at meeting the expanding needs of Asian entrepreneurs and foreign businesses seeking opportunities for growth in Asia. 

The current Board of Directors of Financial Singapore Pte Ltd consists of

  • Mr. Ravi Rajagopal - Non-Executive Chairman
  • Mr. Vishal Kampani - Non-Executive Director

 

JM Financial Securities, Inc

JM Financial Securities Inc. (JMFSI), a company incorporated in the state of Delaware, United States of America (USA) is a subsidiary of JM Financial Overseas Holdings Private Limited. JMFSI is a SEC registered broker-dealer and FINRA member.

The current Board of Directors of JM Financial Securities, Inc. consists of

  • Mr. Manish Prasad - Non-Executive Chairman

 
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