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VALUED
INSIGHTS.
TRUSTED
EXPERIENCES.
Why The
Tangram?
The Tangram is an ancient
game of dynamism, adaptability
and creativity which calls for an
exceptional ability to foresee
solutions ahead of others.
JM Financial mirrors the qualities of
the Tangram. By adopting the same
values into our work culture, our
group has gained recognition
as being a distinct, resilient
and dominant financial force.
Pioneering
Strategies
US
JM Financial is one of India’s
prominent financial services groups,
specialising in providing a spectrum
of businesses to corporations,
financial institutions, high net-worth
individuals and retail investors.
We are known for our diverse
businesses such as Investment
Banking, Equity, Debt, Commodity
Sales and Trading, Wealth
Management, Portfolio Management
Services, Asset Management,
Alternative Asset Management,
Financing and Lending and
Distressed Asset Management.
We have pioneered several
strategies and transactions for a
wide client base spread across
geographies and thus developed
rich experience and expertise.
Every idea is unique to the need
of the client and supported by
superior execution to deliver
maximum benefits. In the course of
our journey, we have partnered with
several top Indian and International
corporate houses and gained their
trust and confidence. Our well
established processes ensure total
confidentiality for all our clients,
thereby giving them absolute
confidence on conflict management
and maintenance of confidentiality.
We are a skilled team of
professionals who bring varied
talents, knowledge and experience
to the workplace, contributing
greatly to the growth of our
businesses.
Our group is proud to have won
several national and international
accolades for our insightful advice
and execution skills.
We are driven to give back to
society by supporting causes
related to education, health care,
skill development, entrepreneurship
promotion, disaster relief and
animal welfare.
Our Guiding
Principles
	Client Focus
	Integrity
	Innovation
	Partnership
	Team Work
	Implementation
	Performance
Leadership
We are committed to promoting
a dynamic workforce wherein
challenges are met with skill
and enthusiasm. Trust is the
pivot of our business, while
integrity, teamwork, innovation,
performance and partnerships are
our guiding principles.
Our lead team of immensely
experienced professionals engage
their finer skills and hands-on
expertise to optimize winning
strategies for our clients and forge
long-lasting relationships that
drive our businesses.
Their in-depth knowledge and
intuitive insights also help the
entire organization work together
cohesively to carry forth tasks
each day.
Mr. Nimesh Kampani
Group Chairman
Ms. Dipti Neelakantan
Group Chief Operating Officer
Mr. V P Shetty
Executive Chairman, JM Financial
Asset Reconstruction Company
Pvt Ltd
Mr. Vishal Kampani
MD & CEO,
Institutional Securities Group
Mr. Atul Mehra
MD & Co-CEO, Investment
Banking Business
Mr. Adi Patel
MD & Co-CEO, Investment
Banking Business
Mr. Manish Prasad
MD & CEO, Institutional Equities
Business
Mr. Shashwat Belapurkar
MD & CEO, Financing and
Lending Business
Mr. Rajeev Chitrabhanu
MD & CEO, Investment Advisory
and Distribution
Mr. Subodh Shinkar
MD & COO, Investment Advisory
and Distribution
Mr. Anil Bhatia
MD & CEO, Asset Reconstruction
Business
Mr. Bhanu Katoch
MD & CEO, Mutual Fund
Business
Mr. Prashant Choksi
Group Head, Compliance,
Legal & Company Secretary
Mr. Manish Sheth
Group Chief Financial Officer
Mr. Chaitanya Wagh
Group Head, Information
Technology
Mr. Anil Salvi
Group Head, Human Resources
& Administration
BUSINESSES
Investment Banking, Securities and Wealth Management
Investment Banking
	Mergers and Acquisitions Advisory
	Equity Capital Markets
	Private Equity Syndication
Institutional Equities
	Research
	Sales and Sales Trading
Investment Advisory and Distribution
	Wealth Management
	Equity Brokerage
	Independent Financial Distribution
Financing and Lending Business
Distressed Asset Management Business (Asset Reconstruction)
Financing and Lending
Asset Management
Mutual Fund
Private Equity Fund
Real Estate Fund
Our Core Businesses
I
VI
VII
IX
XIII
XV
III
Mergers and
Acquisitions Advisory
As a proven leader in the M&A
space, we work diligently to identify
the optimal transaction partners
around the globe for our clients.
Based on a deep understanding of
industry trends and relationships
with key buyers and sellers, we
help companies maximize the
strategic and financial value of each
transaction. We provide fairness
opinions, valuations, and reviews of
strategic alternatives. We are noted
for ideating and executing marquee
transactions that have proved to be
milestones in the journey of leading
corporate houses.
Our approach is relationship
driven and supported by our in-
depth understanding of industry
trends, which enables our clients to
leverage promising opportunities to
take their business goals forward.
Our team specialises in working
on multifaceted acquisitions,
divestitures, restructuring, takeover
defense, de-merger, slump sale,
fairness opinions, financial advisory
and multi-firm mergers.
Sustained Leadership Position
Through:
	Execution of transactions of 	
	 value of Rs.697,410 crore
	 ($105 Bn) over last 15 years
	Advised over 160 transactions 		
	 over the last 15 years
	Repeated advisory assignments 		
	 from all leading Corporate 		
	 Groups in India
Awards
2015 | Awarded by BW
Business World Magna
Awards
Dealmaker of the Year
(India) - Diageo Deal
2015 | Awarded by
Acquisition International
Dealmaker of the Year
(Singapore) – Altran
Foliage Deal
2015 | Awarded by Asset
Triple A Country Awards
Best Corporate and
Institutional Bank –
Domestic
Investment Banking 2014-2015 YTD Performance
Marquee Mergers and Acquisitions Transactions
2014
Rs.963 Cr ($145 MM)
Financial Advisor to
FTIL for sale of its
stake in MCX
2014 2014
Rs.1,103 Cr ($166 MM)
Manager to Open offer
by Deepak Fertilizers in
Mangalore Chem & Fert
Exclusive Financial
Advisor to Foliage on
sale to Altran SA
2015
Rs.2,212 Cr ($333 MM)
Advisor to Open Offer by
Reliance Infra in Pipavav
Defence and Offshore Eng.
2015
Lead advisor to Adani
Enterprises on a major
group restructuring
2015
Rs.724 Cr ($109 MM)
Sole Financial Advisor to
HLVL on the sale of Hotel
Leela Goa to MetTube
2014
Rs.20,856 Cr ($3,140 MM)
Lead Financial Advisor to
Diageo PLC for acquisition
of United Spirits Ltd.
Fairness opinion to the
Board of PFRL for demerger
of Madura Fashion and
Madura Lifestyle into PFRL
2015 2015
Fairness opinion to the
Board of Cairn India
on its merger with
Vedanta Ltd.
We were the sole domestic
investment bank appointed as a
Global Coordinator by both
HDFC Bank and IndusInd Bank for
their fund raising of Rs.2,000 crore
($301 MM) and Rs.4,328 crore
($652 MM) respectively. We were
the exclusive Global Coordinator
and Book Running Lead Manager
for Bajaj Finance’s Rs. 1,400 crore
($211 MM) Qualified Institutions
Placement.
We are pioneers at introducing
innovative products to the market.
We were the left lead manager
in the first of its kind issuance of
differential voting shares by
Tata Motors and also in the
maiden Indian Depository
Receipts issuance by Standard
Chartered PLC. Recently we were
instrumental in taking public a
Blackstone investee company
and India’s largest Fragrances &
Flavours business, S H Kelkar &
Company.
Private Equity
Syndication
Our dedicated Financial Sponsor
Group (FSG) focuses on private
equity players operating in India
- bringing together private equity
investors and corporate houses.
We advise companies on fund
raising strategies and private equity
investors on their investment
approach. We also help private
equity funds to exit their investments
by selling their stake to other private
equity funds, strategic buyers
through IPOs or block deals.
Our approach is to focus on market
worthy issuers and securities and
help bring quality capital into the
system.
Equity Capital
Markets
Our clients rely on us for
strategic advice for Initial Public
Offerings, Follow-on Public
Offerings, Rights Offerings
and Qualified Institutions
Placements. We provide creative
solutions to address our clients
requirements by innovating new
products dovetailing the needs
of corporates and investors.
With our vast global and
local distribution reach and
understanding of international
and domestic investors, we
are able to bring together the
providers of capital and the
issuers of capital.
In the last decade, we have
assisted our clients in raising
~Rs.250,000 crore (~$40 Bn)
and year to date we have helped
clients raise ~Rs.51,945 crore
(~$7,821 MM) to finance their
growth plans and strengthen or
restructure their balance sheets.
2015 YTD Performance
Marquee Capital Market Transactions
OCTOBER
Rs.508 Cr
($76 MM) IPO
OCTOBER
Rs.740 Cr ($111 MM)
Rights Issue
SEPTEMBER
Rs.5,051 Cr
($760 MM) QIP
AUGUST
Rs.9,396 Cr
($1,415 MM) OFS
JULY
Rs.182 Cr
($27 MM) OFS
JULY
Rs.872 Cr ($131 MM)
Block Transaction
JUNE
Rs.4,328 Cr
($652 MM) QIP
JUNE
Rs.1,400 Cr
($211 MM) QIP
APRIL
Rs.1,401 Cr ($211 MM)
Rights Issue
APRIL
Rs.1,610 Cr
($242 MM) OFS
MARCH
Rs.300 Cr
($45 MM) QIP
FEBRUARY
Rs.2,000 Cr
($301 MM) QIP
JANUARY
Rs.22,557 Cr
($3,396 MM) OFS
JANUARY
Rs.1,600 Cr ($241 MM)
Rights Issue
YTD we have closed 14 transactions raising ~Rs.51,945 crore (~$7,821 MM).
III IV
Sales and Sales
Trading
Our 15 member Sales and Sales
trading team caters to the top
200 institutional investors,
both domestic and foreign,
participating in the Indian capital
markets. The distribution reach
is further augmented by having
established a sales presence in the
U.S. in addition to our presence in
Singapore.
Through our annual investor
conference, road shows and
one-on-one meetings, our equity
sales force leverages the firm’s
highly regarded research and
facilitates interaction between
investors and management of
quality growth companies.
Keeping pace with the dynamic
market place, we consistently
invest in high-end technology
platforms to enable seamless
execution of settlements.
Maintaining the highest level of
compliance is an integral part of
our business.
Institutional Equities
Research
JM Financial Equity Research
provides in-depth analysis and
research across companies,
sectors and evolving themes.
We currently cover 170 companies
across sectors. We have a clear
and scientific rating system
which is backed by intelligent
observation that keeps the
fundamental principles at the focal
point at all times.
We have a strong 26 member
analyst team that is known for
producing best in class research,
delivering ideas and providing
insights into companies, markets
and sectors from a unique Indian
perspective. Our macro research
experts provide insights and
address thematic trends across
sectors and also provide timely
commentary on political events.
The conducted research extends
beyond immediate economic
performance and focuses on
developing market themes to
empower our clients with efficient
sector and stock allocation.
Through our investor
conferences, we
encourage the
exchange of ideas
and hold extensive
one–on-one
meetings with senior
management.
Leadership in Novel Ideas - “First Time Products”
Leveraging Relationships with Regulators, Issuers and Investors.
Zero
Interest
Bond
1990
Triple
Option
Convertible
Debenture
1993
First
Concurrent
ADS / Ordinary
Equity Share
Follow-on
offering
2005 2009
Secured
Premium Noted
Deep Discount
Bond Double
Option Bond
2012
First ever
open offer
under a court
approved
scheme of
arrangement
2015
First stapled
issue of NCD
+ warrants
1992
Secured
Premium Noted
Deep Discount
Bond Double
Option Bond
2004
First
Conditional
IPO in Indian
Capital
Markets
First
Issuance of
Differential
Voting
Shares
2008
First
ever IDR
issuance
2010
First of
its kind
Demerger
scheme
2013
V VI
Investment Advisory and Distribution
Wealth Management
JM Financial’s Wealth Management
business offers advisory services to
1,800 High Net-worth Individuals
(HNI), Ultra High Net-worth
Individuals (UHNI) and Corporates
aggregating Assets under
Management of Rs.23,500 crore
($3,538 MM). We provide a very
high level of personal attention and
implementation expertise to clients
looking to manage their wealth
effectively.
We aid clients in navigating
through complex wealth planning
challenges and to ensure they
benefit from the industry’s
most promising ideas. Our
Wealth Management plans are
tailored on the foundation of
deep understanding of asset
allocations, financial products,
risk management, taxability, and
succession planning. This business
is currently being offered in
7 major Indian cities through the
Hub & Spoke model.
Independent
Financial
Distribution
Our Financial Product Distribution
team customises intelligent
solutions for Independent Financial
Distributors who in turn cater to
retail investors.
We offer a comprehensive and
user-friendly platform with a
gamut of varied products like
Mutual Funds, Public Offerings, and
Fixed Deposits to our Independent
Financial Distributors to provide
real value to our end clients.
JM Financial is ranked among
the top firms in respect of the
distribution of Mutual Funds, IPOs
and Fixed Deposits.
Equity Brokerage
Our broking business focuses on
building a robust trading platform
for High Net worth and Retail
clients, both through proprietary
branches and business affiliates.
It is supported by technical and
fundamental research teams
and derivative strategists who
generate investment and trading
ideas. We service over 38,000
clients in over 100 cities with an
Average Daily Volume in Equity
of Rs.2,228 crore ($335 MM) with
Market Share of 1.85%.
JM Financial Commtrade Ltd
(JMFCL) is our commodities
trading arm. With a strong
research and execution platform,
JMFCL has evolved as a preferred
commodity broker for retail
private investors and corporates
impacted by the underlying
commodity.
Awards
2015 | Awarded by BSE
Among the Top 10 performers in the Equity
Broking Segment (Retail Trading)
2015 | Awarded by BSE
Among the Top 3 performers - Primary Market
Segment (IPO / FPO Bids members)
2015 | Awarded by Great Place to WorkÂŽ
Ranked as India’s Best Companies To Work For -
Investments Industry
2015 | Awarded by Great Place to WorkÂŽ
Ranked among the Top 100 India’s Best
Companies To Work For - Overall
2015 | Awarded by UTI & CNBC
Best Performing National Financial Advisor –
Institutional
2015 | Awarded by NSE
Among the Top performing members in Debt
ETFs for 2014
VII VIII
IX X
Distressed Asset Management Business
(Asset Reconstruction)
We are at the
forefront of driving
change in the
evolving Distressed
Asset Management
Business.
Our Distressed Asset Management
business is engaged in acquisition
of non-performing and distressed
assets (NPAs) from Banks and
Financial Institutions (FIs) and
resolving them.
Our goal is to realize the
investments and generate returns
through the revival of companies,
restructuring of debt and
liquidation of assets. We have a
team of professionals from diverse
backgrounds who are experienced
in banking, corporate debt,
restructuring and bankruptcy.
We are one of the largest
capitalized Distressed Asset
Management Companies in India
and consistently among the top
performers in the industry, with a
market share of approximately 18%.
Our Assets Under Management
stand at ~Rs.8,493 crore (~$1.28
Bn) and our Net Cash Investment
at ~Rs.1,266 crore (~$191 MM) as on
Sept 30, 2015.
Presently, we have successfully
acquired assets from 47 banks and
financial institutions.
XI XII
758
Mar ‘12
1,083
Mar ‘13
3,647
Mar ‘14
8,398
Mar ‘15
8,493
Sep ‘15Mar ‘11
599
Assets Under Management
(Rs.Crore)
Assets Under Management have grown
at a rate of 80% since 2011.
24%
Sole Investors
37%
Pari Passu
39%
Senior to Others
Investment Strategy and Focus
Our investment strategy focuses
on acquiring good quality assets
at the right price and limiting
the downside risk by insisting on
sufficient underlying security value.
We present flexible acquisition
structures to the selling banks
and financial institutions for their
distressed assets across sectors
and geographies. We believe in
resolving assets and enhancing
value of the investments by way of
incremental or last mile funding to
the stressed entities and providing
structured solutions to lower the
cost of capital to companies.
Highlights
In June 2014, we acquired the
dues of Hotel Leelaventure Ltd.
from a consortium of 14 banks,
a pioneer transaction in the ARC
industry. With a time bound
approach to resolution, we are
working with the company to
help it recover and revive faster.
In another first in the industry
to our name, we sold part of the
Security Receipts of the account to
a Foreign Portfolio Investor.
This year we have also acquired
majority debt of two companies
– one in the cement industry and
other in the ceramics industry. We
are working with the companies to
revive operations and formulate a
viable restructuring plan, we believe
that the resolution of assets is
best achieved by creating a win-
win situation for all.
Focus Going Ahead
We will continue to focus on cash
investments or Senior (Class A)
Security Receipts in single credit
accounts with potential for revival.
Net Cash Investment
More than 60% of our Net Cash Investment of
~Rs.1,266 crore (~$191 MM) is sole or senior to
other investors in Security Receipts.
Breakthrough Hotel Leela Deal
Single deal for acquisition of
~Rs.4,000 crore (~$619 MM)
dues from 14 Banks.
XIII XIV
Corporate Loans and
Financing
Our Corporate Loans and Financing
business aims to deliver credit
solutions to Sponsors, Holding
Companies, Operating Companies
and Special Purpose Vehicles,
in order to meet their diverse
requirements when traditional
templates of interest servicing,
security, tenor, principal repayment,
may not prove to be feasible.
Over time we have built strong
relationships with several of
India’s Top 200 promoter groups.
Our endeavor is to strengthen
the relationships with our existing
clients, while also prudently building
new partnerships with more
promoter groups and corporate
houses. We aim to create custom-
made lending solutions for unique
situations that include strategic
acquisitions, without compromising
on the standards of the securities
pledged or mortgaged in our favour.
We are set on a tangible growth
trajectory. Our lending book has
grown from Rs.500 crore ($75 MM)
in FY 10 to Rs.1,672 crore ($252 MM)
in FY 15 registering CAGR of 27%.
Loan against Property
Our unique gamut of products in
the SME lending space deliver the
best-suited solutions to our clients’
funding requirements related to
personal and business purposes.
Designed as secured loans against
property, this product helps clients
leverage their asset without giving
away ownership.
We partner with
our clients to
understand their
financing gaps and
structure tailored
solutions that
work best for their
requirements.
Commercial Real
Estate Funding
We provide integrated financial
solutions to real estate developers.
We undertake financing of
Commercial Real Estate projects
through loans, debt syndication
and distribution of Non-Convertible
debentures. We are predominantly
focused on residential development
projects that are located in Tier 1
cities like Mumbai, Pune, Bengaluru
and Chennai. We have successfully
lent against a few completed Grade
A commercial properties in Mumbai
and Bengaluru.
Our real estate lending book has
grown from Rs.210 crore ($32 MM)
in FY 11 to Rs.2,845 crore ($428 MM)
in FY 15 registering CAGR of ­92%.
Loan against Securities
These loans facilitate our clients
to capitalize on their investments
by providing liquidity against
investments in Shares, Mutual Funds
and Bonds, without the need to sell
the securities.
Margin Trade Funding
These loans facilitate our clients
to finance their settlement
obligations with regards to
their trading in Equity and
Commodity markets. With this
financing, clients take calculated
calls for trading higher volumes
in the markets without having
to liquidate their investment
portfolios.
Employee Stock Option Scheme
(ESOP) Funding
This product is offered to the
employees of various corporates
to finance their employee stock
options eliminating the need to
arrange liquidity for the same.
Broker Funding
In a case where the client is an
existing broker, he may avail
funding to meet his working
capital needs against the collateral
of his existing investment.
IPO Funding
For clients wishing to participate
in the Primary Markets, this is an
unmatched offering. It enables the
client to participate in IPOs in a
substantial manner by contributing
a small margin, with the balance
being funded by us against the
collateral of the application money
and IPO allocation.
Our Loan against Securities
lending book has grown from
Rs.1,802 crore ($271 MM) in FY 11 to
Rs.2,151 crore ($324 MM) in FY 15.
Financing and Lending
Mutual Fund
JM Financial Mutual Fund has
been in operation for over two
decades in the Asset Management
business in India with ~Rs.15,874
crore (~$2.39 Bn) of Assets under
Management.
We offer a bouquet of 17 mutual
fund schemes across the risk-
return spectrum that caters to the
specifics of both institutional and
individual investors.
Our risk and fund management
framework allows us to effectively
manage both risk and investments
while generating high quartile
returns across all product
categories.
Private Equity Fund
JM Financial India fund is an
India focused long term PE Fund
providing growth capital to
fast growing, primarily unlisted
companies. Fund has raised capital
of Rs.952 crore ($143 MM) through
its domestic and offshore schemes
which has been invested entirely
in 13 companies across various
sectors.
Fund has successfully exited from
five of its portfolio companies and
has returned an aggregate 70% of
the capital contributions; it still has
investments to be exited currently
valued at Rs.807 crore ($121 MM).
Real Estate Fund
JM Financial Property Fund is an
India focused fund with investments
in commercial, residential, retail
and hospitality sectors. Fund
has successfully raised capital of
Rs.390 crore ($59 MM) through its
domestic and offshore schemes
which is now fully invested.
Fund has made investments in Tier
1 & Tier 2 cities and has successfully
exited from five of its portfolio
companies.
XV XVI
Asset Management
CSR
Spreading
Smiles
We set up the Kampani Charitable
Trust in the year 1983 and JM
Financial Foundation in 2001.
In accordance with our CSR
Policy, we approved an aggregate
contribution of Rs.5.43 crore to be
released over three years to the
Trusts for supporting initiatives
and projects such as Ashoka
University, Walkathon and more.
Our Trusts identify and work
with several credible NGOs on a
number of outreach programs in
various fields such as education,
healthcare, entrepreneurship
promotion, skill development,
animal welfare and disaster relief
amongst others. Our ongoing
activities include:
Education
We offer access to quality
education to the lesser privileged,
give scholarships and support a
girl child by providing academic
and social aid. We also support
schools that run programs for
children with disabilities and who
belong to weak socioeconomic
backgrounds.
Entrepreneurship Promotion
We partner with other firms and
support the Venture Studio of
Ahmedabad University to further
develop entrepreneurship in our
country.
Health Initiatives
We have partnered with companies
to provide those in need of medical
treatment for free or at a subsidized
cost. We help rehabilitate the
physically challenged and provide
treatment for cancer patients.
Skill Development
We have supported initiatives that
train the underprivileged and young
school dropouts in vocational
fields such as computer studies,
carpentry, etc, thereby enabling
them to become independent.
Disaster Relief
Through our partners we worked
extensively to help rehabilitate the
victims of the Jammu & Kashmir
floods.
Animal Welfare
We have helped shelter cows
by building cowsheds and have
provided fodder for these animals
in Gujarat and Rajasthan through
our partners.
Others
We have actively supported
promoting sports, arts and culture.
Ashoka University
International Foundation for
Research & Education (IFRE) is
a non-profit company registered
under Section 25 of the
Companies Act, 1956.
The primary objective of IFRE
is the promotion of education
by establishing schools,
colleges, and education along
with research centres for the
upliftment of society, not with
the motive of profit. IFRE
commenced operations in 2008
and in 2011 launched its one year
Post Graduate Program, more
popularly known as the Young
India Fellowship Program (YIP).
IFRE is the sponsor body that set
up Ashoka University, which is an
independent non-profit private
university under the Haryana
Private Universities Act, 2006,
that is engaged in providing
Bachelors, Masters and Post
Graduate education to students.
Situated in Sonipat, Haryana,
students undergo a rigorous
merit based admission process
and have access to world class
education at Ashoka University.
Ummeed - Child
Development Center
The skilled professionals at
Ummeed, an NGO, strive to
provide integrated care to children
who have various types of
developmental disabilities.
Our Foundation has supported
UPPA-Ummeed Parent Program
for Autism, which provides group
training classes with individual
parent–child coaching sessions.
Parents receive one-on-one
inputs to help manage their
children better and also learn by
interacting with other parents.
Walkathon
Initiated in the year 2002, the
Walkathon is one of the key annual
initiatives of our Foundation. It
supports a diverse range of social
initiatives with help from grass
root level NGOs and implements
programs in various fields such
as education, health and disaster
relief. It has successfully raised
funds for many such causes, with
contributions being personally
delivered by our team members.
Every year, our employees, their
families and friends as well as
clients actively participate in the
6 km walk along the picturesque
Marine Drive seafront in Mumbai
and make an effort to give back
to society. The route is along
Marine Drive from opposite NCPA
Apartments up to Mafatlal Bath,
and then return to Nariman Point.
This year, we made use of social
media to get more participation. It
was held on February 15, 2015 and
witnessed nearly 700 enthusiastic
participants.
Making A Difference
Get in Touch
JM Financial Group
7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi, Mumbai 400 025, India
Tel: +91 22 6630 3030
Email: investor.relations@jmfl.com
www.jmfl.com
JM Financial Overseas Holdings
Pvt. Ltd.
Suite 2004, Level 2, Alexander
House 35, Cybercity, Ebène,
Republic of Mauritius.
Tel: +230 4645100
JM Financial Singapore Pte. Ltd.
30 Cecil Street, #21-01/02
Prudential Tower,
Singapore 049712.
Tel: +65 64221888
JM Financial Securities, Inc.
2500 Plaza 5, 25th Floor,
Harborside Financial Center,
Jersey City, New Jersey, 07311,
United States of America.
Tel: +1 201 633 3610
International Presence
The activities and businesses described in this document may contain certain ‘forward looking statements’. We are under no obligation to publicly amend, modify or revise
any forward looking statements on the basis of any subsequent developments, information or events and assume no liability for any action taken by anyone on the basis of
any information contained herein.
The contents of this document are solely for the purpose of information and shall not be construed in any sense a solicitation or offer to purchase or sale of any securities.
This document and/or any part thereof, may not be duplicated in any form and/or reproduced or redistributed without our prior written consent.
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Loan Against Securities

  • 2. Why The Tangram? The Tangram is an ancient game of dynamism, adaptability and creativity which calls for an exceptional ability to foresee solutions ahead of others. JM Financial mirrors the qualities of the Tangram. By adopting the same values into our work culture, our group has gained recognition as being a distinct, resilient and dominant financial force.
  • 3. Pioneering Strategies US JM Financial is one of India’s prominent financial services groups, specialising in providing a spectrum of businesses to corporations, financial institutions, high net-worth individuals and retail investors. We are known for our diverse businesses such as Investment Banking, Equity, Debt, Commodity Sales and Trading, Wealth Management, Portfolio Management Services, Asset Management, Alternative Asset Management, Financing and Lending and Distressed Asset Management. We have pioneered several strategies and transactions for a wide client base spread across geographies and thus developed rich experience and expertise. Every idea is unique to the need of the client and supported by superior execution to deliver maximum benefits. In the course of our journey, we have partnered with several top Indian and International corporate houses and gained their trust and confidence. Our well established processes ensure total confidentiality for all our clients, thereby giving them absolute confidence on conflict management and maintenance of confidentiality. We are a skilled team of professionals who bring varied talents, knowledge and experience to the workplace, contributing greatly to the growth of our businesses. Our group is proud to have won several national and international accolades for our insightful advice and execution skills. We are driven to give back to society by supporting causes related to education, health care, skill development, entrepreneurship promotion, disaster relief and animal welfare. Our Guiding Principles  Client Focus  Integrity  Innovation  Partnership  Team Work  Implementation  Performance
  • 4. Leadership We are committed to promoting a dynamic workforce wherein challenges are met with skill and enthusiasm. Trust is the pivot of our business, while integrity, teamwork, innovation, performance and partnerships are our guiding principles. Our lead team of immensely experienced professionals engage their finer skills and hands-on expertise to optimize winning strategies for our clients and forge long-lasting relationships that drive our businesses. Their in-depth knowledge and intuitive insights also help the entire organization work together cohesively to carry forth tasks each day. Mr. Nimesh Kampani Group Chairman Ms. Dipti Neelakantan Group Chief Operating Officer Mr. V P Shetty Executive Chairman, JM Financial Asset Reconstruction Company Pvt Ltd Mr. Vishal Kampani MD & CEO, Institutional Securities Group Mr. Atul Mehra MD & Co-CEO, Investment Banking Business Mr. Adi Patel MD & Co-CEO, Investment Banking Business Mr. Manish Prasad MD & CEO, Institutional Equities Business Mr. Shashwat Belapurkar MD & CEO, Financing and Lending Business Mr. Rajeev Chitrabhanu MD & CEO, Investment Advisory and Distribution Mr. Subodh Shinkar MD & COO, Investment Advisory and Distribution Mr. Anil Bhatia MD & CEO, Asset Reconstruction Business Mr. Bhanu Katoch MD & CEO, Mutual Fund Business Mr. Prashant Choksi Group Head, Compliance, Legal & Company Secretary Mr. Manish Sheth Group Chief Financial Officer Mr. Chaitanya Wagh Group Head, Information Technology Mr. Anil Salvi Group Head, Human Resources & Administration
  • 5. BUSINESSES Investment Banking, Securities and Wealth Management Investment Banking  Mergers and Acquisitions Advisory  Equity Capital Markets  Private Equity Syndication Institutional Equities  Research  Sales and Sales Trading Investment Advisory and Distribution  Wealth Management  Equity Brokerage  Independent Financial Distribution Financing and Lending Business Distressed Asset Management Business (Asset Reconstruction) Financing and Lending Asset Management Mutual Fund Private Equity Fund Real Estate Fund Our Core Businesses I VI VII IX XIII XV
  • 6. III Mergers and Acquisitions Advisory As a proven leader in the M&A space, we work diligently to identify the optimal transaction partners around the globe for our clients. Based on a deep understanding of industry trends and relationships with key buyers and sellers, we help companies maximize the strategic and financial value of each transaction. We provide fairness opinions, valuations, and reviews of strategic alternatives. We are noted for ideating and executing marquee transactions that have proved to be milestones in the journey of leading corporate houses. Our approach is relationship driven and supported by our in- depth understanding of industry trends, which enables our clients to leverage promising opportunities to take their business goals forward. Our team specialises in working on multifaceted acquisitions, divestitures, restructuring, takeover defense, de-merger, slump sale, fairness opinions, financial advisory and multi-firm mergers. Sustained Leadership Position Through:  Execution of transactions of value of Rs.697,410 crore ($105 Bn) over last 15 years  Advised over 160 transactions over the last 15 years  Repeated advisory assignments from all leading Corporate Groups in India Awards 2015 | Awarded by BW Business World Magna Awards Dealmaker of the Year (India) - Diageo Deal 2015 | Awarded by Acquisition International Dealmaker of the Year (Singapore) – Altran Foliage Deal 2015 | Awarded by Asset Triple A Country Awards Best Corporate and Institutional Bank – Domestic Investment Banking 2014-2015 YTD Performance Marquee Mergers and Acquisitions Transactions 2014 Rs.963 Cr ($145 MM) Financial Advisor to FTIL for sale of its stake in MCX 2014 2014 Rs.1,103 Cr ($166 MM) Manager to Open offer by Deepak Fertilizers in Mangalore Chem & Fert Exclusive Financial Advisor to Foliage on sale to Altran SA 2015 Rs.2,212 Cr ($333 MM) Advisor to Open Offer by Reliance Infra in Pipavav Defence and Offshore Eng. 2015 Lead advisor to Adani Enterprises on a major group restructuring 2015 Rs.724 Cr ($109 MM) Sole Financial Advisor to HLVL on the sale of Hotel Leela Goa to MetTube 2014 Rs.20,856 Cr ($3,140 MM) Lead Financial Advisor to Diageo PLC for acquisition of United Spirits Ltd. Fairness opinion to the Board of PFRL for demerger of Madura Fashion and Madura Lifestyle into PFRL 2015 2015 Fairness opinion to the Board of Cairn India on its merger with Vedanta Ltd.
  • 7. We were the sole domestic investment bank appointed as a Global Coordinator by both HDFC Bank and IndusInd Bank for their fund raising of Rs.2,000 crore ($301 MM) and Rs.4,328 crore ($652 MM) respectively. We were the exclusive Global Coordinator and Book Running Lead Manager for Bajaj Finance’s Rs. 1,400 crore ($211 MM) Qualified Institutions Placement. We are pioneers at introducing innovative products to the market. We were the left lead manager in the first of its kind issuance of differential voting shares by Tata Motors and also in the maiden Indian Depository Receipts issuance by Standard Chartered PLC. Recently we were instrumental in taking public a Blackstone investee company and India’s largest Fragrances & Flavours business, S H Kelkar & Company. Private Equity Syndication Our dedicated Financial Sponsor Group (FSG) focuses on private equity players operating in India - bringing together private equity investors and corporate houses. We advise companies on fund raising strategies and private equity investors on their investment approach. We also help private equity funds to exit their investments by selling their stake to other private equity funds, strategic buyers through IPOs or block deals. Our approach is to focus on market worthy issuers and securities and help bring quality capital into the system. Equity Capital Markets Our clients rely on us for strategic advice for Initial Public Offerings, Follow-on Public Offerings, Rights Offerings and Qualified Institutions Placements. We provide creative solutions to address our clients requirements by innovating new products dovetailing the needs of corporates and investors. With our vast global and local distribution reach and understanding of international and domestic investors, we are able to bring together the providers of capital and the issuers of capital. In the last decade, we have assisted our clients in raising ~Rs.250,000 crore (~$40 Bn) and year to date we have helped clients raise ~Rs.51,945 crore (~$7,821 MM) to finance their growth plans and strengthen or restructure their balance sheets. 2015 YTD Performance Marquee Capital Market Transactions OCTOBER Rs.508 Cr ($76 MM) IPO OCTOBER Rs.740 Cr ($111 MM) Rights Issue SEPTEMBER Rs.5,051 Cr ($760 MM) QIP AUGUST Rs.9,396 Cr ($1,415 MM) OFS JULY Rs.182 Cr ($27 MM) OFS JULY Rs.872 Cr ($131 MM) Block Transaction JUNE Rs.4,328 Cr ($652 MM) QIP JUNE Rs.1,400 Cr ($211 MM) QIP APRIL Rs.1,401 Cr ($211 MM) Rights Issue APRIL Rs.1,610 Cr ($242 MM) OFS MARCH Rs.300 Cr ($45 MM) QIP FEBRUARY Rs.2,000 Cr ($301 MM) QIP JANUARY Rs.22,557 Cr ($3,396 MM) OFS JANUARY Rs.1,600 Cr ($241 MM) Rights Issue YTD we have closed 14 transactions raising ~Rs.51,945 crore (~$7,821 MM). III IV
  • 8. Sales and Sales Trading Our 15 member Sales and Sales trading team caters to the top 200 institutional investors, both domestic and foreign, participating in the Indian capital markets. The distribution reach is further augmented by having established a sales presence in the U.S. in addition to our presence in Singapore. Through our annual investor conference, road shows and one-on-one meetings, our equity sales force leverages the firm’s highly regarded research and facilitates interaction between investors and management of quality growth companies. Keeping pace with the dynamic market place, we consistently invest in high-end technology platforms to enable seamless execution of settlements. Maintaining the highest level of compliance is an integral part of our business. Institutional Equities Research JM Financial Equity Research provides in-depth analysis and research across companies, sectors and evolving themes. We currently cover 170 companies across sectors. We have a clear and scientific rating system which is backed by intelligent observation that keeps the fundamental principles at the focal point at all times. We have a strong 26 member analyst team that is known for producing best in class research, delivering ideas and providing insights into companies, markets and sectors from a unique Indian perspective. Our macro research experts provide insights and address thematic trends across sectors and also provide timely commentary on political events. The conducted research extends beyond immediate economic performance and focuses on developing market themes to empower our clients with efficient sector and stock allocation. Through our investor conferences, we encourage the exchange of ideas and hold extensive one–on-one meetings with senior management. Leadership in Novel Ideas - “First Time Products” Leveraging Relationships with Regulators, Issuers and Investors. Zero Interest Bond 1990 Triple Option Convertible Debenture 1993 First Concurrent ADS / Ordinary Equity Share Follow-on offering 2005 2009 Secured Premium Noted Deep Discount Bond Double Option Bond 2012 First ever open offer under a court approved scheme of arrangement 2015 First stapled issue of NCD + warrants 1992 Secured Premium Noted Deep Discount Bond Double Option Bond 2004 First Conditional IPO in Indian Capital Markets First Issuance of Differential Voting Shares 2008 First ever IDR issuance 2010 First of its kind Demerger scheme 2013 V VI
  • 9. Investment Advisory and Distribution Wealth Management JM Financial’s Wealth Management business offers advisory services to 1,800 High Net-worth Individuals (HNI), Ultra High Net-worth Individuals (UHNI) and Corporates aggregating Assets under Management of Rs.23,500 crore ($3,538 MM). We provide a very high level of personal attention and implementation expertise to clients looking to manage their wealth effectively. We aid clients in navigating through complex wealth planning challenges and to ensure they benefit from the industry’s most promising ideas. Our Wealth Management plans are tailored on the foundation of deep understanding of asset allocations, financial products, risk management, taxability, and succession planning. This business is currently being offered in 7 major Indian cities through the Hub & Spoke model. Independent Financial Distribution Our Financial Product Distribution team customises intelligent solutions for Independent Financial Distributors who in turn cater to retail investors. We offer a comprehensive and user-friendly platform with a gamut of varied products like Mutual Funds, Public Offerings, and Fixed Deposits to our Independent Financial Distributors to provide real value to our end clients. JM Financial is ranked among the top firms in respect of the distribution of Mutual Funds, IPOs and Fixed Deposits. Equity Brokerage Our broking business focuses on building a robust trading platform for High Net worth and Retail clients, both through proprietary branches and business affiliates. It is supported by technical and fundamental research teams and derivative strategists who generate investment and trading ideas. We service over 38,000 clients in over 100 cities with an Average Daily Volume in Equity of Rs.2,228 crore ($335 MM) with Market Share of 1.85%. JM Financial Commtrade Ltd (JMFCL) is our commodities trading arm. With a strong research and execution platform, JMFCL has evolved as a preferred commodity broker for retail private investors and corporates impacted by the underlying commodity. Awards 2015 | Awarded by BSE Among the Top 10 performers in the Equity Broking Segment (Retail Trading) 2015 | Awarded by BSE Among the Top 3 performers - Primary Market Segment (IPO / FPO Bids members) 2015 | Awarded by Great Place to WorkÂŽ Ranked as India’s Best Companies To Work For - Investments Industry 2015 | Awarded by Great Place to WorkÂŽ Ranked among the Top 100 India’s Best Companies To Work For - Overall 2015 | Awarded by UTI & CNBC Best Performing National Financial Advisor – Institutional 2015 | Awarded by NSE Among the Top performing members in Debt ETFs for 2014 VII VIII
  • 10. IX X Distressed Asset Management Business (Asset Reconstruction) We are at the forefront of driving change in the evolving Distressed Asset Management Business. Our Distressed Asset Management business is engaged in acquisition of non-performing and distressed assets (NPAs) from Banks and Financial Institutions (FIs) and resolving them. Our goal is to realize the investments and generate returns through the revival of companies, restructuring of debt and liquidation of assets. We have a team of professionals from diverse backgrounds who are experienced in banking, corporate debt, restructuring and bankruptcy. We are one of the largest capitalized Distressed Asset Management Companies in India and consistently among the top performers in the industry, with a market share of approximately 18%. Our Assets Under Management stand at ~Rs.8,493 crore (~$1.28 Bn) and our Net Cash Investment at ~Rs.1,266 crore (~$191 MM) as on Sept 30, 2015. Presently, we have successfully acquired assets from 47 banks and financial institutions.
  • 11. XI XII 758 Mar ‘12 1,083 Mar ‘13 3,647 Mar ‘14 8,398 Mar ‘15 8,493 Sep ‘15Mar ‘11 599 Assets Under Management (Rs.Crore) Assets Under Management have grown at a rate of 80% since 2011. 24% Sole Investors 37% Pari Passu 39% Senior to Others Investment Strategy and Focus Our investment strategy focuses on acquiring good quality assets at the right price and limiting the downside risk by insisting on sufficient underlying security value. We present flexible acquisition structures to the selling banks and financial institutions for their distressed assets across sectors and geographies. We believe in resolving assets and enhancing value of the investments by way of incremental or last mile funding to the stressed entities and providing structured solutions to lower the cost of capital to companies. Highlights In June 2014, we acquired the dues of Hotel Leelaventure Ltd. from a consortium of 14 banks, a pioneer transaction in the ARC industry. With a time bound approach to resolution, we are working with the company to help it recover and revive faster. In another first in the industry to our name, we sold part of the Security Receipts of the account to a Foreign Portfolio Investor. This year we have also acquired majority debt of two companies – one in the cement industry and other in the ceramics industry. We are working with the companies to revive operations and formulate a viable restructuring plan, we believe that the resolution of assets is best achieved by creating a win- win situation for all. Focus Going Ahead We will continue to focus on cash investments or Senior (Class A) Security Receipts in single credit accounts with potential for revival. Net Cash Investment More than 60% of our Net Cash Investment of ~Rs.1,266 crore (~$191 MM) is sole or senior to other investors in Security Receipts. Breakthrough Hotel Leela Deal Single deal for acquisition of ~Rs.4,000 crore (~$619 MM) dues from 14 Banks.
  • 12. XIII XIV Corporate Loans and Financing Our Corporate Loans and Financing business aims to deliver credit solutions to Sponsors, Holding Companies, Operating Companies and Special Purpose Vehicles, in order to meet their diverse requirements when traditional templates of interest servicing, security, tenor, principal repayment, may not prove to be feasible. Over time we have built strong relationships with several of India’s Top 200 promoter groups. Our endeavor is to strengthen the relationships with our existing clients, while also prudently building new partnerships with more promoter groups and corporate houses. We aim to create custom- made lending solutions for unique situations that include strategic acquisitions, without compromising on the standards of the securities pledged or mortgaged in our favour. We are set on a tangible growth trajectory. Our lending book has grown from Rs.500 crore ($75 MM) in FY 10 to Rs.1,672 crore ($252 MM) in FY 15 registering CAGR of 27%. Loan against Property Our unique gamut of products in the SME lending space deliver the best-suited solutions to our clients’ funding requirements related to personal and business purposes. Designed as secured loans against property, this product helps clients leverage their asset without giving away ownership. We partner with our clients to understand their financing gaps and structure tailored solutions that work best for their requirements. Commercial Real Estate Funding We provide integrated financial solutions to real estate developers. We undertake financing of Commercial Real Estate projects through loans, debt syndication and distribution of Non-Convertible debentures. We are predominantly focused on residential development projects that are located in Tier 1 cities like Mumbai, Pune, Bengaluru and Chennai. We have successfully lent against a few completed Grade A commercial properties in Mumbai and Bengaluru. Our real estate lending book has grown from Rs.210 crore ($32 MM) in FY 11 to Rs.2,845 crore ($428 MM) in FY 15 registering CAGR of ­92%. Loan against Securities These loans facilitate our clients to capitalize on their investments by providing liquidity against investments in Shares, Mutual Funds and Bonds, without the need to sell the securities. Margin Trade Funding These loans facilitate our clients to finance their settlement obligations with regards to their trading in Equity and Commodity markets. With this financing, clients take calculated calls for trading higher volumes in the markets without having to liquidate their investment portfolios. Employee Stock Option Scheme (ESOP) Funding This product is offered to the employees of various corporates to finance their employee stock options eliminating the need to arrange liquidity for the same. Broker Funding In a case where the client is an existing broker, he may avail funding to meet his working capital needs against the collateral of his existing investment. IPO Funding For clients wishing to participate in the Primary Markets, this is an unmatched offering. It enables the client to participate in IPOs in a substantial manner by contributing a small margin, with the balance being funded by us against the collateral of the application money and IPO allocation. Our Loan against Securities lending book has grown from Rs.1,802 crore ($271 MM) in FY 11 to Rs.2,151 crore ($324 MM) in FY 15. Financing and Lending
  • 13. Mutual Fund JM Financial Mutual Fund has been in operation for over two decades in the Asset Management business in India with ~Rs.15,874 crore (~$2.39 Bn) of Assets under Management. We offer a bouquet of 17 mutual fund schemes across the risk- return spectrum that caters to the specifics of both institutional and individual investors. Our risk and fund management framework allows us to effectively manage both risk and investments while generating high quartile returns across all product categories. Private Equity Fund JM Financial India fund is an India focused long term PE Fund providing growth capital to fast growing, primarily unlisted companies. Fund has raised capital of Rs.952 crore ($143 MM) through its domestic and offshore schemes which has been invested entirely in 13 companies across various sectors. Fund has successfully exited from five of its portfolio companies and has returned an aggregate 70% of the capital contributions; it still has investments to be exited currently valued at Rs.807 crore ($121 MM). Real Estate Fund JM Financial Property Fund is an India focused fund with investments in commercial, residential, retail and hospitality sectors. Fund has successfully raised capital of Rs.390 crore ($59 MM) through its domestic and offshore schemes which is now fully invested. Fund has made investments in Tier 1 & Tier 2 cities and has successfully exited from five of its portfolio companies. XV XVI Asset Management
  • 14. CSR Spreading Smiles We set up the Kampani Charitable Trust in the year 1983 and JM Financial Foundation in 2001. In accordance with our CSR Policy, we approved an aggregate contribution of Rs.5.43 crore to be released over three years to the Trusts for supporting initiatives and projects such as Ashoka University, Walkathon and more. Our Trusts identify and work with several credible NGOs on a number of outreach programs in various fields such as education, healthcare, entrepreneurship promotion, skill development, animal welfare and disaster relief amongst others. Our ongoing activities include: Education We offer access to quality education to the lesser privileged, give scholarships and support a girl child by providing academic and social aid. We also support schools that run programs for children with disabilities and who belong to weak socioeconomic backgrounds. Entrepreneurship Promotion We partner with other firms and support the Venture Studio of Ahmedabad University to further develop entrepreneurship in our country. Health Initiatives We have partnered with companies to provide those in need of medical treatment for free or at a subsidized cost. We help rehabilitate the physically challenged and provide treatment for cancer patients. Skill Development We have supported initiatives that train the underprivileged and young school dropouts in vocational fields such as computer studies, carpentry, etc, thereby enabling them to become independent. Disaster Relief Through our partners we worked extensively to help rehabilitate the victims of the Jammu & Kashmir floods. Animal Welfare We have helped shelter cows by building cowsheds and have provided fodder for these animals in Gujarat and Rajasthan through our partners. Others We have actively supported promoting sports, arts and culture.
  • 15. Ashoka University International Foundation for Research & Education (IFRE) is a non-profit company registered under Section 25 of the Companies Act, 1956. The primary objective of IFRE is the promotion of education by establishing schools, colleges, and education along with research centres for the upliftment of society, not with the motive of profit. IFRE commenced operations in 2008 and in 2011 launched its one year Post Graduate Program, more popularly known as the Young India Fellowship Program (YIP). IFRE is the sponsor body that set up Ashoka University, which is an independent non-profit private university under the Haryana Private Universities Act, 2006, that is engaged in providing Bachelors, Masters and Post Graduate education to students. Situated in Sonipat, Haryana, students undergo a rigorous merit based admission process and have access to world class education at Ashoka University. Ummeed - Child Development Center The skilled professionals at Ummeed, an NGO, strive to provide integrated care to children who have various types of developmental disabilities. Our Foundation has supported UPPA-Ummeed Parent Program for Autism, which provides group training classes with individual parent–child coaching sessions. Parents receive one-on-one inputs to help manage their children better and also learn by interacting with other parents. Walkathon Initiated in the year 2002, the Walkathon is one of the key annual initiatives of our Foundation. It supports a diverse range of social initiatives with help from grass root level NGOs and implements programs in various fields such as education, health and disaster relief. It has successfully raised funds for many such causes, with contributions being personally delivered by our team members. Every year, our employees, their families and friends as well as clients actively participate in the 6 km walk along the picturesque Marine Drive seafront in Mumbai and make an effort to give back to society. The route is along Marine Drive from opposite NCPA Apartments up to Mafatlal Bath, and then return to Nariman Point. This year, we made use of social media to get more participation. It was held on February 15, 2015 and witnessed nearly 700 enthusiastic participants. Making A Difference
  • 16. Get in Touch JM Financial Group 7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025, India Tel: +91 22 6630 3030 Email: investor.relations@jmfl.com www.jmfl.com JM Financial Overseas Holdings Pvt. Ltd. Suite 2004, Level 2, Alexander House 35, Cybercity, Ebène, Republic of Mauritius. Tel: +230 4645100 JM Financial Singapore Pte. Ltd. 30 Cecil Street, #21-01/02 Prudential Tower, Singapore 049712. Tel: +65 64221888 JM Financial Securities, Inc. 2500 Plaza 5, 25th Floor, Harborside Financial Center, Jersey City, New Jersey, 07311, United States of America. Tel: +1 201 633 3610 International Presence The activities and businesses described in this document may contain certain ‘forward looking statements’. We are under no obligation to publicly amend, modify or revise any forward looking statements on the basis of any subsequent developments, information or events and assume no liability for any action taken by anyone on the basis of any information contained herein. The contents of this document are solely for the purpose of information and shall not be construed in any sense a solicitation or offer to purchase or sale of any securities. This document and/or any part thereof, may not be duplicated in any form and/or reproduced or redistributed without our prior written consent.