Group Overview

JM Financial Limited
Group Overview
March 2014
Table of Contents
Group Overview
Key Milestones
Key Business Segments
Diversified Activities
Long Standing Relationship and Experience
Board of Directors and Firm Management
Depth of Management
Group Structure
Awards & Recognition
2
Group Overview
JM Financial Group’s various businesses
• JM Financial Ltd. is the
Flagship Holding Company
of the JM Financial group.
• JM Financial Ltd. is listed
on the National Stock
Exchange and BSE
Investment Banking
Asset Management
Services
Institutional Equities
Sales, Trading & Research
• Pan India presence
Private Equity &
Real Estate Funds
Investment
Advisory Services
A Capital Market
Powerhouse!
Commodities
Broking
Asset Reconstruction
Fixed Income Trading
Non Banking Financial
Services
Significant presence across the Financial Services spectrum
3
Growing from strength to strength
• Signed MoU in 1994 with CSFB without equity stake to offer international capital market products
and transactions for Indian clients
• MoU envisaged an informal tie up and continued till 1996
• Signed MoU in 1997 with Morgan Stanley (MS) to leverage on combine strength of MS global
platform and JM Financial local franchise to develop equity business in India
• Emergence of JM Morgan Stanley Private Limited (JMMS), joint venture in 1999 to establish
presence in the field of investment banking, institutional securities, retail broking and research
• Separated from Morgan Stanley in joint venture, in 2007.
• Purchased controlling stake in erstwhile ASK Raymond James to develop and grow institutional
securities and research businesses
• Subsequently bought out 100% stake in ASK Securities and renamed as JM Financial Institutional
Securities
• Entered in 50-50 joint venture with SRS Private Investment LLP, US to establish a venture capital
fund of USD500 MM; subsequently we bought out SRS stake in joint venture
• Fund to make investments in commercial, residential, retail and hospitality real estate projects and
real estate development companies
• Signed an MoU for strategic cooperation in the field of M&A advisory services to Indian and African
corporates
4
History of JM Financial Group
Key Milestones
2008-till date
•
•
•
•
Expanding business in International Jurisdictions
Commenced Asset reconstruction Business
Expanded operations in Fixed Income business
Managed India’s first IDR issue
2007
•
•
•
•
Separation from Morgan Stanley in joint venture
Continues to lead the Indian Investment Banking / financial services industry as a 100% Indian Company
Acquired ASK Securities (renamed as JM Financial Institutional Securities), a institutional securities firm
Launch of Real Estate Fund
2002-2006
1999
1989-1994
1986
1979-1980
1973
• Manages India’s first IPO through book building
• Records three firsts in India - first Indian dual tranche FCCB issue, first billion dollar IPO, first conditional IPO
• Launch of Private Equity Fund
• Emergence of JM Morgan Stanley Private Limited (JMMS), a joint venture, between JM Financial and Morgan Stanley, for
investment banking and securities business
•
•
•
•
JMFICS introduces equity warrants in the Indian Capital Markets
JM Financial is listed on the Bombay, Ahmedabad and Delhi Stock Exchanges
JMFICS introduces Deep Discount Bond in Indian Capital Markets
JMFICS managed four transactions of securities offerings in excess of Rs. 100 crores each, a size unmatched till then in Indian
markets.
• JM Financial Asset Management, first private sector mutual fund commenced operations
• Tie up with CSFB, S. G. Warburg & Co. Morgan Grenfell and DZ, British Investment Banks on informal basis
• JM Financial (holding company) was incorporated to engage in the business of stock broking and securities
• Regional office set up in Delhi
• JMFICS files first offer document for listing securities of an Indian client with FSA, London
• JMFICS is the first to introduce fully convertible debentures in Indian Capital Markets
• JM Financial & Investment Consultancy Services Pvt. Ltd. (JMFICS), JM Financial’s promoter company established in Mumbai
5
Key Business Segments
Investment Banking
Fund Based Activity
•
Corporate Finance Advisory
•
Margin Financing
•
M&A Advisory
•
IPO Financing
•
Equity Capital Markets
•
Loan against Share
•
Debt Capital Markets
•
Commercial Real Estate funding
•
Commodities Financing
•
G-sec & Corporate Bond Trading
•
Asset Reconstruction
•
Debt Restructuring
Investment
Banking
Institutional Equity Sales &
Research
•
Equity Sales
•
Equity Research
Investment Advisory
Services
•
•
•
•
•
•
Wealth Management
Financial Product Distribution
Depository
Equity Broking
Derivatives Broking
Commodity Broking
Institutional
Equity
Sales
& Research
Investment
Advisory
Services
Fund
Based
Activity
Alternative
Asset
Management
Asset
Management
Alternative Asset
Management
•
Private Equity Fund
•
Real Estate Fund
Asset Management
•
Mutual Fund
•
Trusteeship Services
6
JM Financial – Evolution
International Expansion
Asset Reconstruction
Asset Reconstruction
NBFC
NBFC
Debt Trading
Debt Trading
NBFC
NBFC
NBFC
Securities Backed Financing
Corporate/Securities Backed Financing
Corporate/Securities Backed Financing
Alternative Asset Mgmt
Alternative Asset Mgmt
Alternative Asset Mgmt
Private Equity & Real Estate
Private Equity & Real Estate
Private Equity & Real Estate
Institutional Equities
Institutional Equities
Institutional Equities
Institutional Equities
Research and Sales
Research and Sales
Research and Sales
Research and Sales
Asset Management
Asset Management
Asset Management
Asset Management
Mutual Fund
Mutual Fund
Mutual Fund
Mutual Fund
Cross Border
Cross Border
Cross Border
Cross Border
M&A, ADR & GDR
M&A, ADR & GDR
M&A, ADR & GDR
M&A, ADR & GDR
Broking
Broking
Broking
Broking
Equity
Equity, Debt & Commodity
Equity, Debt, Commodity & Currency
Equity, Debt, Commodity & Currency
Wealth Management
Wealth Management
Wealth Management
Wealth Management
Wealth Management
Investment Advisory
Investment Advisory
Investment Advisory
Investment Advisory
Investment Advisory
Financial Product
Financial Product
Financial Product
Financial Product
Financial Product
Distribution
Distribution
Distribution
Distribution
Distribution
Investment Banking
Investment Banking
Investment Banking
Investment Banking
Investment Banking
1991 – 2002
2003 – 2007
1973 – 1990
2008 – 2010
2011 – 2014
7
Diversified Activities
Investment Banking and Securities
Investment Banking
Institutional Equities
• Full service investment bank focused on capital raising, mergers &
acquisitions and private equity for Indian Corporates in domestic and
international capital markets
• Offering superior research-based broking services to institutional
clients. Actively servicing over 130 investor clients, a mix of FIIs and
domestic institutions.
• Awarded a number of recognitions over the years from Euromoney and
Finance Asia. Awarded ‘Investment Bank of the Year’ & ‘India Deal of
the Year (Large Markets)’ at recently conducted M&A Atlas Awards
• A strong 31-member research team with active coverage of 176
stocks providing in-depth quality research and analysis. Plans to
further enhance coverage of sectors and companies
• Leadership positions in all product areas and unmatched market share
for landmark transactions
• A 9-member institutional sales-desk with dedicated-focus on
different geographies.
• Has best in Class Execution Team with focus on client satisfaction
• Expanding presence in International Markets viz; Singapore, Indonesia
and USA.
• The Banking and Financial Services Industry research team was
conferred the StarMine Analyst Award 2010-11 (no. 1 and no. 2
positions) in the best stock-picker category.
Investment Advisory & Retail Distribution
Commodities Broking
• Offers research based investment advisory and equity trading services
to high net-worth individuals and corporate investors.
• Team of research analysts tracking a wide range of international
commodities such as bullion, base metals, crude and soft
commodities such as sugar, wheat, soy complex, pulses and spices
• Presence in 248 locations spread across 116 cities through a network
of branches and franchisees.
• Products include retail equity & derivatives broking, distribution of
mutual funds, IPOs & fixed income instruments, portfolio management
service, wealth management advisory and depository service
• Team focuses on companies having direct balance sheet exposure
to an exchange traded commodity as well as high net worth
individuals
8
… Diversified Activities
Fund Based Activities
Margin Financing
Fixed Income lending and financing
• Engaged in offering financing against various securities
– Margin financing
• Provides structured solutions for debt requirements of corporate
clients
– IPO financing
• Lending against commercial real estate / loan against property
– Mutual Fund financing
• Activities include:
– ESOPs financing
• CRISIL Credit rating of P1+ (short term), AA- (long term)
– Structured lending and investment in structured debt capital
market instruments
– Structuring advisory and private placement of debt capital market
instruments
– Trading in corporate bonds and government securities
Asset Reconstruction
• RBI registered Asset Reconstruction Company engaged in the
business of Distressed Assets management in India
• Other shareholders include 4 Nationalised Banks, 2 HNIs and a
Foreign Fund
• Current Asset Under Management of ~ Rs. 3,647 Cr comprising
Corporate, SME and Retail portfolios
9
Diversified Activities …
Asset Management
Private Equity Fund
Real Estate Fund
• The Fund is an India focused, long term private equity fund, focused
on providing growth capital to fast growing, primarily unlisted
companies in India
• The Fund is India focused and seeks to make equity investments in
the commercial, residential, retail, and hospitality sectors across
various geographical locations
• India-focused Private Equity fund of US$ 225 Mn ~Rs. 936 Cr
• Managing ~ Rs. 333 Cr of investments in the real estate sector in
India
• Approximately 85% from International investors and remaining 15%
from domestic investors
• The Fund has completed its investment in 16 portfolio companies
with 4 successful exits
• Funds raised from domestic investors(56%) and international
investors (44%)
• The Fund has completed its investment in 14 portfolio companies
with 2 successful exits
Mutual Fund
• Rs. 6,046Cr of Avg Assets under Management on March 2014
– Equity Funds of ~ Rs. 458 Cr (US$ 0.08Bn)
– Debt Funds of ~ Rs. 5,588 Cr (US$ 0.93Bn)
• Funds are targeted across Equity and Fixed Income asset classes
• Strong network of 19 branches with 81 Investor service centers
across the country
10
Strong Indian Corporate Relationships
Investment Banking Business
Pharmaceuticals, Consumer, Retail, Healthcare, Media, Education
11
Focus on Long-Term Relationships
Investment Banking Business
TELCO
CB
Issue
Tata
Chemicals
US$70 MM
PCD/NCD
Rights Issue
Tata
Motors
US$225 MM
Domestic
Rights Issue
VSNL
US$300 MM
Acquisition
of GoI stake
Tata Motors
US$400 MM
FCCB
Tata
Consultancy
Services
US$1.2 BN
IPO
Titan
Industries
Rights
Issue
US$30 MM
Tata
Steel
Rights
Issue
US$2.2 BN
IHCL
Rights
Issue
US$450MM
Tata
Motors
DVS Rights
Issue
US$0.9 BN
Trent
QIP
Offering
US$ 50 MN
Tata
Power
Rights
Issue
US$330 MN
Indian Hotels
Rights
Issue
US$160 MN
1980
1990
2001
2002
2004
2004
2006
2007
2008
2008
2012
2014
2014
RPL US$490 MM
Triple Option Convertible
Debentures
RIL-RPL Merger
US$10 BN
Reliance Energy
US$154 MM
Open Offer
Reliance Group
Corporate Restructuring
Reliance
Petroleum Limited
US$660 MM IPO
Reliance – IPCL Merger
Reliance – RPL Merger
1993
2002
2003
2005
2006
2007
2009
Rights Issue
of FCDs /
Public
Issue of Bonds
US$175
MM
ADR
offering
US$820 MM
ICICI –
ICICI Bank
Merger
US$770 MM
Follow-on
domestic
equity
offering
US$250400 MM
Sponsored
ADR
Offering
US$1.52 BN
Simultaneous
ADR +
Domestic
Offering
US$340 MM
Hybrid
Capital
Offering
US$2.5 BN
Follow on
Domestic
Offering
US$250
MM
Bond
Issue
US$650 MM
acquisition of
Bank of
Rajasthan
1993/94/95
2000
2001
2004
2005
2005
2006
2007
2007
2010
Acquisition of Times Bank
(India),
US$133 MM
HDFC Bank
US$172.5 MM
ADR offering
HDFC Bank
US$90 MM
Private placement
of bonds
HDFC Bank
US$300 MM
ADR Offering
HDFC Bank
US$700 MM
ADR Offering
HDFC Bank
CBoP Merger
US$2.3 BN
1998/99
2001
2004
2005
2007
2008
Merger of
Birla AT&T with
Tata Cellular
Advisor to Grasim
for strategic
investment
in L&T
Advisor to ABG’s
divestment of stake
in MRPL
Advisor to Grasim
for acquisition of
UltraTech
Lead Manager
for Hindalco’s
Right Issue
Lead Manager for
Idea Cellular IPO
Advisor to Grasim’s
divestment of
Vikram Ispat
US$258 MM
2000
2001
2003
2004
2005
2007
2008
Advisor to Pantaloon –
Aditya Birla Transaction
for investment by ABNL of
Rs. 2,400 Cr
2012
Essar Gujarat
Initial Public Offering US$3
MM
Essar Steel
Issue of SCD/NCD
US$82 MM
Essar Gujarat
Rights Issue
US$220 MM
Advisor for
acquisition of
Sterling Cellular
Advisor to Essar
Group for Vodafone’s
acquisition of Hutch
US$5.5 BN
Restructuring of
telecom investment
1988
1989
1992
1997
2007
2011
12
Culture of Innovation
Pioneered various capital market products and restructured
large corporations on the back of superior understanding
of markets, deep regulatory knowledge and strong
relationships with regulators……
First issuance
2006
2005
2001
Rating
Enhanced
Equity Linked
Securities
1998
1993
Triple Option
Convertible
Debenture
1992
Tata Steel
1980
Tata Motors
Warrants
attached to
Debentures
Fully
Convertible
Bond
Mahindra &
Mahindra
Zero Interest
Bond
2004
2002
First Indian
dual tranche
FCCB issue
to fund investments in
consumer space
Completed
Foreign
Currency
Hybrid
2008
Tata
Motors
2006
First Issuance
Pre-IPO
of Differential
Placement
post DRHP Voting Shares
Filing
2010
Standard Chartered
Plc
2009
First ever IDR
First ever QIP of
issuance
NCDs + Warrants
First IPO
through 100%
bookbuilt
offering
Tata Industries
1999
1997
Exchangeable
Premium
Encash Bond
Bonds
Index Bond
1992
1990
1983
Secured
NCDs
Umbrella
Prospectus
Secured
Premium Note
1980
First
Concurrent
2004
ADS / Ordinary
TCS
Equity Share
Follow-on
First
offering
Conditional IPO
in Indian
Capital Markets
First of its kind
Demerger
scheme
Secured Premium
Noted
Deep Discount
Bond
Double Option
Bond
……over the last four decades
13
Depth of Experience
Over Three decades of Leadership in Indian Equities
Domestic Issue
US$172 MM
Domestic Issue
US$268 MM
IPO US$330 MM
QIP US$883 MM
Domestic Issue
US$220 MM
IPO
US$2.6 BN
ADS US$300 MM
ADS
US$184 MM
QIP US$520 MM
IPO US$553 MM
FPO US$2.5 BN
Domestic Issue
US$12 MM
Domestic Issue
US$86 MM
Special Conversion
Offering
Domestic Issue
US$42 MM
IPO US$ 582 MM
IPO US$150 MM
Domestic Issue
US$46 MM
REELs
US$106 MM
Tata Motors
QIP US$ 343 MM
Satluj Jal Rights Issue
Tata Consultancy
Vidyut Nigam US$0.9 BN
Services
Tata Steel
FPO US$234 MM
Public Issue
IPO US$450 MM Rights Issue
QIP US$22.8 MM
US$1.2 BN
US$2.3 BN
Domestic Issue
US$2.4 BN
Rights Issue
US$ 330 MM
Concurrent ADS/domestic follow-on
US$1.25 BN, ADS US$ 437 MM FPO US$770 MM
FPO
US$56 MM
Domestic Issue
US$72 MM
Domestic Issue
US$62 MM
Domestic Issue
US$31 MM IPO US$178 MM
Triple-Option
Convertible Debentures
Public Issue US$780 MM
Domestic Issue
US$266 MM
TATA Motors
CB Issue
TATA Steel
Rights Issue
ADS
US$136 MM
TATA Chemicals
PCD/NCD Rights
Issue
Domestic Issue
US$254 MM
Follow-on Offerings
Rights Issue
Block Trade
US$ 880 MM
OFS US$ 27 MM
ONGC Block Trade
US$830 MM
IPO US$626 MM
2010 QIP US$
253 MM
Follow-on US$693 MM
IPO
US$569 MM
Domestic Issue
US$24 MM
IPO US$1.2 BN
IPP
US$ 9 MM
IPO
US$ 25 MM
2012 QIP
US$ 359 MM
2011 QIP
US$94 MM
2012 QIP
US$160 MM
FPO US$1.0 BN
IPO US$1.2 BN
IDR Issue
US$538 MM
QIP
US$443 MM
QIP US$115 MM
2013 QIP US$ 57 MM
Domestic Issue
US$183 MM
Public Issue of
Equity Shares
QIP US$81 MM
QIP US$80 MM
Block Trade
US$ 77 MM
QIP US$50 MM
Leading Indian
Equity House for
more than three
decades
2013 IPO,
US$50 MM
Rights Issue
US$ 188 MM
IPO US$167 MM
IPO US$25 MM
ONGC OFS
US$2.6 BN
IPO
US$96 MM
IPO
US$277 MM
14
India’s Leading M&A House
Select Transactions
Escotel Mobile, US$275 MM
Sale to Idea Cellular
US$1 BN
strategic
sale
Transamerica,
US$15 MM Equity Sale
to ICICI Bank
BP Amoco,
US$170 MM
Open Offer
for Castrol
Grasim,
US$280 MM
Acquisition of
UltraTech Stake
(L&T Cement)
ICICI, US$820 MM
Merger with
ICICI Bank
Tata Group,
US$300 MM,
Acquisition of
stake in VSNL
Aptech, US$90 MM
Restructuring and
Merger Advisory
Merger of Birla AT&T with
Tata Cellular
Eton Park Capital
Management
Acquiring stake in
Reliance Capital
US$38 MM
Open Offer for
Vaibhav Gems
Acquisition of
Fun Foods - $25 MM
Acquisition of
Bank
of Rajasthan
Mitsui in selling its
stake in Sesa Goa for
US$981 MM
Sale of Sponge
Iron Business
– US$220 MM
Acquisition of 19.4%
stake by SKIL group
Largest Merger – combined
market cap over US$45 BN
Acquisition of CBoP
(~US$2.5 BN)
Sole Sell-Side
Financial Advisor
Manager to Voluntary Open
offer by Deepak Fertilizers in
Mangalore Chemicals and
Fertilizers Ltd (Announced)
Open offer by
Diageo in United
Spirits (Announced)
Investment in JSW
Infrastructure –
US$125 MM
Fund-raise of
US$ 45 MM
Sale of 33% stake in
Vodafone Essar Ltd.
Open Offer for
Cairn
shareholders
Sale of 16%
stake in Dr Lal
PathLabs
Lafarge SA - Acquisition
of L&T Concrete
FCI SA
Delisting
Demerger of
Bajaj Auto
Alcan, US$160 MM
Divestiture advisory
Reliance, US$155
MM Open Offer for Lupin Group, US$197
BSES
MM Merger Advisory
Advisory to
promoter family
for stake sale
Merger of passive infra
business with WTTIL
US$150 MM
Open offer for
Tata Invest.
By Tata Sons
US$ 12 BN
Corporate
Restructuring
of RIL
REI Agro Limited
Corporate
Restructuring
MBO of Intelenet backed
by Private Equity in India
– US$105 MM
US$5.5 BN
re-organisation
through share swap
IOC, Merger
with IBP
Grasim, US$ 163 MM
Acquisition of L&T Stake
JV between EML
and Volvo
Acquisition of 9.9%
equity stake in
Tata Teleservices
Limited
VSNL, US$60 MM
Acquisition of
DishnetDSL ISP
EID Parry,
US$9 MM
Demerger of
Fertiliser division
Cadbury, US$182 MM
Open Offer for
Cadbury India
Reliance Group,
US$10 BN,
Merger of RPL
into RIL
US$62 MM Acquisition
of Dunlop South Africa
Escorts Heart
US$ 144 MM
Sale to Ranbaxy
ITC Ltd.,
Merger with
ITC Hotels
Reliance, US$154 MM
Open Offer for
BSES
Kodak, US$20 MM
Open Offer for
Kodak India
US$594 MM
strategic sale of
Citigroup stake in
I-flex + US$317 MM
Open Offer for
I-flex
#1 M&A House
in India
Open Offer by
Demerger of
RHI AG to
Lifestyle
Delisting of
Orient
Fashion
Open Offer
Atlas Copco
Refractories
Business
of
by
India
Acquisition
shareholders
PRIL & FVIL
GSPC
of JSW
Acquisition of
Infrastructure
BASF Group Restructuring, for USD
TKPS, Germany
US $ 45 MM open offer for
by Sona Group
125 MM
BASF India
Demerger of Investment by
Investment in
Everstone in
non-IT
Dalmia Cement - businesses
Harry’s
Delisting
Open Offer for Demerger and US$166 MM
Holding
of Wipro Ltd.
of Sparsh
Wendt
stake sale to
shareholders Aditya Birla Nuvo
Acquisition of
Investment in
Controlling Stake In
Acquisition of
TVS Logistics United Spirits Limited
majority stake in
US$47 MM
US$3,555 MM
Delisting of Alfa Laval India
Mudra Group
JM Financial has been associated with landmark M&A transactions for leading corporates year after year
15
Extensive Geographical Reach
Dominant Franchise
Private Wealth Group +
Corporate Wealth Group
Independent Financial
Distributors
• We provide investment advisory
services to over 600 HNI and
Corporate clients spread across
India
• We have a team of over 45
professionals
• Trained Investment Advisors help
investors achieve investment goals
• Strong network of over 8,000
active IFDs spread throughout
the length and breadth of the
country
• Over 600,000 customers
throughout India have transacted
business through JM Financial
• IFDs help us in reaching new
clients across different locations
Direct Retail
• Customers can walk into our 248
centres in 116 cities and discuss
investment decisions with our
trained relationship managers
• Walk-in clients are provided value
adds such as monthly newsletters
and consolidated statements
Presence in
116 Cities through
248 centres
Jaipur
Delhi
Ahmedabad
Bhavnagar
Indore
Vadodara
Rajkot
Surat
Jamnagar
Pune
Mumbai
Hyderabad
Bangalore
Chennai
Kolkata
Direct Marketing
• We have a robust direct marketing
set-up
• We also reach retail clients through
mailers & ads
• We have tie-ups with tele-calling
centers across the country to
handle inbound & outbound calls
Through its cluster of sub-syndicates, JM Financial is present in 116 Cities
JM Financial operates through a network of over 8000 active IFDs & provides investment advisory to over 600 HNIs &
Corporate clients
16
Board of Directors
• Mr. Nimesh Kampani, a commerce graduate from Sydenham College, Mumbai and a fellow member of the Institute of Chartered Accountants of India, is
the founder and chairman of the JM Financial Group, one of India’s leading players in the financial services space. He is a commerce graduate from
Sydenham College, Mumbai and a qualified Chartered Accountant. In his career spanning nearly four decades, Mr. Kampani has made pioneering
contributions to the development of Indian capital markets and has advised several corporates on their strategic and financial needs, especially capital
raising and mergers & acquisitions.
Nimesh Kampani
Chairman & Managing
Director
• Mr. Kampani is a member of the Governing Council of the Indian Institute of Capital Markets and on the Governing Board of Centre for Policy Research,
which is a non-profit, non-partisan and autonomous research institution and one of India's premier think tanks in public policy. He is also a member on
the India Advisory Board of Bain & Company and Advisory Board of VentureStudio promoted by Ahmedabad University. VentureStudio has been setup
by Ahmedabad University in collaboration with Centre for Design Research at Standford University, California, USA. VentureStudio aims to create
entrepreneurship in the young generation in India and provide them opportunities to start up new ventures.
• Mr. Kampani has served as a member on several important committees constituted by the Ministry of Finance, Government of India, Reserve Bank of
India, Securities and Exchange Board of India, Bombay Stock Exchange, National Stock Exchange Limited, Confederation of Indian Industry (CII),
Federation of Indian Chambers of Commerce and Industry (FICCI) and Institute of Chartered Accountants of India. He was also a member of the High
Powered Expert Committee constituted by the Ministry of Finance on making Mumbai an International Finance Centre. He was the Chairman of the CII’s
National Committee on Capital Markets and was also a member of the Advisory Panel on Financial Regulation and Supervision of the Committee on
Financial Sector Assessment constituted by Reserve Bank of India. He was a member on the Bloomberg Asia Pacific Advisory Board and on the
Advisory Board of Rieter India.
• He also serves as an Independent Director on the Boards of several leading Indian companies such as Apollo Tyres Limited, Britannia Industries
Limited, Deepak Nitrite Limited and KSB Pumps Limited.
D E Udwadia
Non Executive &
Independent Director
• Mr. Udwadia is a founder partner of M/s. Udwadia & Udeshi, Solicitors & Advocates since July, 1997 which is presently named Udwadia Udeshi & Argus
Partners. Prior to July 1997, he was a partner of M/s. Crawford Bayley & Co., Solicitors & Advocates for over 20 years. He and his Firm are legal
advisors to Indian and multinational companies.
• Mr. Udwadia has during his 49 years of active law practice acquired substantial knowledge, skill, experience and expertise in areas of corporate law,
mergers, acquisitions and takeovers, corporate restructuring, foreign collaboration, joint ventures, project finance, intellectual property, international
loans and finance related transactions, real estate and conveyancing.
• Mr. Udwadia also serves on the Board of several reputed Indian public and private Companies.
E A Kshirsagar
Non Executive &
Independent Director
• Mr. Kshirsagar has wide experience in Corporate Strategy & Structure, Valuation, Feasibility Studies, Disinvestments, Mergers & Acquisitions. He was
associated with the Management Consultancy division of A F Ferguson for over three decades and retired in 2004 as the Senior Partner.
• Mr. Kshirsagar serves on the Board of other leading Indian public companies. He is also the Chairman of the Board of Trustees of the Chhatrapati
Shivaji Maharaj Vastu Sangrahalaya (formerly, Prince of Wales Museum) and Hon. Treasurer of Bombay Natural History Society (BNHS).
17
Board of Directors
Dr. Vijay Kelkar
Non Executive &
Independent Director
• Dr. Vijay Kelkar is currently the Chairman of India Development Foundation, New Delhi. He was the Chairman of the board of the Forum of
Federations, Ottawa, Canada, from January 2010 to March 2013. He was conferred the Padma Vibhushan by the President of India, the second
highest Civilian Award, in January 2011, for his distinguished and exceptional service to the Nation.
• Dr. Kelkar has held many senior level positions in the Government of India, including as the Chairman of the Finance Commission in the rank of Union
Cabinet Minister until January 2010. Prior to this, he was also the Advisor to Minister of Finance, Government of India in the rank of a Minister of State,
from August 2002 to September 2004; Finance Secretary to the Government of India, 1998-99; Chairman, Tariff Commission, Government of India,
1997-98; and Secretary, Ministry of Petroleum & Natural Gas, Government of India, 1994-1997.
• Dr. Kelkar chaired the Task Force for implementation of the Fiscal Responsibility and Budget Management Act and Task Force on Direct Taxes as well
as Task Force on Indirect Taxes. He recently chaired the Committee appointed by the Finance Internationally, Dr. Kelkar was the Executive Director at
the International Monetary Fund for India, Sri Lanka, Bangladesh and Bhutan from 1999-2002. He was also the Director & Coordinator, International
Trade Division of the United Nations Conference on Trade and Development, Geneva, Switzerland, from 1991-1994.
• Dr. Kelkar has been member of Board of Directors, Advisory Council and Board of Governors of various global companies and organisations, including
Tata Consultancy Services, CITI Group, Hero Honda Motors, Indian Council for Research on International Economic Relations, Administrative Staff
College of India, Hyderabad, India National Innovation Foundation, Ahmedabad, Indian Society of Energy and Environment Economics, New Delhi, and
Indian Institute of Technology, New Delhi, among many others. He serves as a director on the Board of several other leading Indian public companies.
Paul Zuckerman
Non Executive &
Independent Director
• Mr. Zuckerman is the Chairman & CEO of Zuckerman & Associates Limited and is a director of a number of companies around the world.
• He has been associated with various international organisations, including the World Bank. Mr. Zuckerman was the Vice Chairman of SG Warburg
International.
• Prior to its acquisition by UBS, and was responsible for business in India and Latin America. During his tenure at SG Warburg International, he was
closely associated with a number of Indian companies and institutions in the early days of globalisation.
Keki Dadiseth
Non Executive &
Independent Director
• Mr. Keki Dadiseth has had an illustrious career of over 27 years at Hindustan Unilever Limited between1973-2000. He served as the Chairman of the
Board between 1996-2000, after which he was elected to the main boards and executive committees of Unilever PLC and Unilever NV. He retired on
reaching the age of superannuation at the end of 2005.
• Mr. Dadiseth serves as a director on the Board of several other leading Indian public companies.
• He is the non-executive chairman of Omnicom India Marketing Advisory Services Private Limited and Chairman of the Convening Board of Marsh &
McLennan Companies Inc. India. He is a member of the International Advisory Board of Fleishman-Hillard Inc. and a member of Strategic Advisory
Boards of Atos India Private Limited, The World Gold Council, Accenture Services Private Limited and PricewaterhouseCoopers Private Limited.
• Previously, Mr. Dadiseth served as Non-Executive Chairman of Sony India Private Limited and Senior Advisor to Sony Group in India. He was also the
Non-Executive Director of Prudential PLC, UK between 2005-2013. He was also on the International Advisory Board of Goldman Sachs between
2006-2012.
• Mr. Dadiseth has been closely associated with various industry, educational, management and medical bodies. He serves as a Trustee of the Sir Ratan
Tata Trust and is the Chairman of the Managing Committee of Breach Candy Hospital Trust, and Member of the Executive Committee of The B D Petit
Parsee General Hospital. He also serves as a Member of the executive board of The Indian School of Business (ISB), Hyderabad.
18
Firm Management
• Mr. Nimesh Kampani is the founder and Chairman of the JM Financial Group
• Pioneering contributions towards the growth & development of the Indian capital markets in past three decades
Nimesh Kampani
Chairman & MD,
JM Financial Group
• Served as a member on several important committees constituted by SEBI, RBI, NSE, BSE, FICCI, CII, etc.
• Member of the High Powered Expert Committee constituted by the Ministry of Finance on making Mumbai an International
Finance Centre
• Was Chairman of the CII’s National Committee on Capital Markets and a member of the Advisory Panel on Financial Regulation
and Supervision of the Committee on Financial Sector Assessment constituted by Reserve Bank of India
• Commerce graduate from Sydenham College, Mumbai and a qualified Chartered Accountant
• Started her Investment Banking career in 1981 with JM Financial
• Worked in various capacities, locations and disciplines within the JM Financial Group
Dipti Neelakantan
Group Chief Operating Officer
• Member of the SEBI Committee on Disclosures and Accounting Standards (SCODA). She has actively contributed to the
ongoing reforms in Capital Market Regulations over three decades
• Member of the Capital Market Committees of FICCI and CII, the two apex industry and business associations in India
• Commerce graduate from Sydenham College, Mumbai and a fellow member of the Institute of Company Secretaries of India
• Mr. Shetty has an illustrious career in banking space spanning almost four decades. During this he has served as Chairman &
Managing Director – IDBI, UCO Bank, Canara Bank and various other Indian Public Sector Banks.
VP Shetty
Executive Chairman,
JM Financial Products Ltd.
• Authority in Commercial Banking, Mergers & Acquisitions in Banking, Corporate Governance and Turnaround Management
especially in Public Sector
• Recipient of "Banker of the Year – 2003" Award from the Business Standard Group in recognition of successful turnaround of
UCO Bank
• Commerce Graduate from Bangalore University and is also a Certified Associate of Indian Institute of Bankers, Mumbai
19
Depth of Management…
• Managing Director of JM Financial Products and Head-Institutional Securities businesses of JM Financial Group.
• Also works as a Senior Relationship Manager of the group and looks the Asset Management Business
Vishal Kampani
MD & CEO, Institutional
Securities Group
• From 2004 to 2007, worked as a Senior Banker in the Investment Banking division and also as Head of Corporate Finance
from the year 2005
• Worked with Morgan Stanley in New York, in the Equity Capital Markets Group before working in India
• M.S. (Finance) from London Business School, University of London and is a Master of Commerce from University of Mumbai
• Co-head of the Investment Banking business
Adi Patel
Co-CEO, Investment Banking
• Over last 15 years developed strong relationships with leading Indian and Global clients across various industry segments and
advised them on numerous strategic M&A/restructuring transactions
• Executed some of the landmark M&A/ restructuring transactions for some of the leading business houses in India
• Qualified Chartered Accountant
• Co-head of the Investment Banking business
Atul Mehra
Co-CEO, Investment Banking
• Frontline experience in investment banking and has been with JM Financial Group for over 18 years. Has a successful
marquee of domestic and cross border transactions to his credit
• Began his career with JM Financial in 1991 as an Analyst and has worked closely with various departments across the
investment banking business which has provided him with in-depth overall exposure to the entire gamut of Corporate Finance
and Capital Markets
• Commerce graduate and has done his Masters in Management Studies
20
… Depth of Management
• Chief Executive Officer - Investment Banking, Asia Pacific, Ex-India
Amitava Guharoy
CEO, Investment Banking
(Asia Pacific, Ex- India)
• Headed PricewaterhouseCoopers (PwC) Singapore, Advisory business, member of PwC (Singapore) Executive Leadership
Team & its Asia Pacific Advisory Leadership Team
• Specialises in M&A and Private Equity transactions and has successfully completed transactions aggregating approximately
S$ 8bn
• Holds Chartered Accountant degree (Gold Medalist), India and accomplished Chartered Management Accountant, UK
• Head of the Institutional Equities group with more than 20 years of experience
Manish Prasad
CEO, Institutional Equities
• Before joining JM Financial, worked with JP Morgan as Head of Equities & Derivatives. Prior to this he has worked with DSP
Merrill Lynch, Dil Vikas Finance, ING Baring Securities India Private Ltd. and DSP Financial Consultants.
• Holds MBA and M.Com degrees.
• Head of the Fixed Income Division (FID) and has over 20 years experience in the Indian Fixed Income Industry
Shashwat Belapurkar
CEO , Fixed Income & Real
Estate
• Worked with the global markets group of Bank of America for 11 years before joining JM Financial
• Holds masters diploma in business management and is a honors graduate in Physics from the University of Poona,
Maharashtra, India.
21
… Depth of Management
Rajeev Chitrabhanu
CEO, Investment Advisory and
Distribution
• CEO of the Investment Advisory business of JM Financial Group. Extensive and hands-on experience in domestic equity
broking, financial products distribution and wealth management business.
• Joined JM Financial in April 1999 and transformed the Syndication function into the Equity Capital Markets Group by working
closely with the teams of Corporate Finance, Research, Institutional Equity Sales and Retail Sales. Prior to that he headed the
FII desk for a domestic brokerage firm
• MD & COO of Investment Advisory and distribution business of JM Financial Group.
Subodh Shinkar
MD & COO, Investment
Advisory and Distribution
• Plays a key role in managing investment advisory business including wealth management, non-institutional equity broking and
distribution
• Also oversees securities backed leading in the form of Margin Financing and IPO Financing of the Group
• Started his career in Investment Banking with J. M. Financial & Investment Consultancy Services Private Ltd. in 1992.
• Is an Associate member of the Institute of Chartered Accountants of India.
• CEO of Asset Reconstruction business and was instrumental in setting up Asset Reconstruction business
Anil Bhatia
MD & CEO, Asset
Reconstruction
• Over 23 years experience in the Indian Financial Markets, covering Credit Markets, Debt Capital Markets, Investment Banking,
Equity Capital Markets, Retail Distribution and Institutional Sales and Brokerage
• Holds a Bachelors degree in Commerce from University of Mumbai
• CEO of Mutual Fund business. Prior to it he was working as Head of Sales (North & West) at Lotus India AMC
Bhanu Katoch
CEO, Mutual Fund
• Started his career with BPL US West Cellular Ltd and later worked with various organisations in the financial sector like
Pioneer ITI AMC, Alliance Capital AMC, Tata AIG Life Insurance Company and ABN AMRO AMC
• Commerce graduate with Post graduate diploma in Marketing and Sales
22
Group Structure
As on March 31, 2014
JM Financial Limited
Holding Co.
100%
JM Financial
Institutional
Securities Pvt.
Ltd.
(Merchant
Banking &
Institutional
equity)
53.5%
JM Financial
Asset
Management
Ltd.
JM Financial
Securities Inc.
(USA)
JM Financial
Singapore Pte
Ltd
Singapore
Corporate
Finance Advisory
& Financial
Advisory)
100%
100%
Infinite India
Investment
Mgmt Pvt. Ltd.
JM Financial
Investment
Managers Ltd
(NBFC)
(NBFC)
(Asset
Reconstruction)
(Real Estate
Asset Mgmt)
(Private Equity
Asset Mgmt.)
91%
99%
PT JM
Financial
Securities
Indonesia
(Indonesia)
JM Financial
Insurance
Broking Pvt
Ltd
100%
JM Financial
Properties and
Holdings Ltd.
(Property
Holding)
100%
25%
JM Financial
Trustee
Company Pvt.
Ltd
CR Retails
Malls (India)
Ltd.
(Stock Broking
& Investment
Advisory)
92.5%
100%
JM Financial
Asset
Reconstruction
Co. Pvt. Ltd.
JM Financial
Services Ltd.
(Mauritius
Investment
Advisor)
49%
FICS
Consultancy
Services Ltd.
9%
JM Financial
Overseas
Holdings Pvt.
Ltd.
100%
JM Financial
Products Ltd.
(Mutual Fund
Management)
100%
100%
90%
(Rental of
Property)
100%
JM Financial
Commtrade
Ltd
(Commodity
Broking)
(Trusteeship)
Holding Co
SEBI Regulated
RBI Regulated
Companies outside India
Others
Note : Based on equity investments
23
Awards and Recognition
Year
Name of Award
2013
M&A Atlas Awards
Details
•
•
•
2013
2012
2012
India's Great Place To Work For 2013.
Conducted by The Great Place to Work Institute,
India in Partnership with Economic Times
India's best dealmakers 2012 (Business World)
The Great Place to Work Awards 2012 conducted
by The Great Place to Work Institute, India in
Partnership with Economic Times
2012
UTI MF and CNBC TV-18 Financial Advisor
Awards 2012
2011
IFLR India Awards 2011
Broker Grading ‘BQ1’
2010
BSE - D&B Equity Broking Awards 2010
India Deal of the Year (Large Markets) It was received for the demerger of the Pantaloons format business from
Pantaloon Retail (India) Limited and acquisition of controlling stake by the Aditya Birla Group)
Investment Bank of the Year
•
JM Financial Limited (Institutional Securities Business,ARC,PE) Among Top 100 India's Best Companies To
Work For
JM Financial Asset Management Among Top 100 India's Best Companies To Work For
•
•
JM Financial Asset Management also among the best in the industry (Financial Services)
JM Financial Services is being recognized among Top 50 India's Best Companies To Work For
•
•
Qualified Institutional Placement
Deal of the year - For M&M Financial Services
•
•
JM Financial
Deal size : Rs 867 cr
•
•
JM Financial Limited (Institutional Securities Business) ranked among Top 50 'India's Best Companies To Work
For' - Up To 1000 Employee
JM Financial Services ranked as India’s Best Company to Work For in the Investments Industry
•
•
JM Financial Services recognized as the Top 50 India’s Best Companies to Work For – overall
JM Financial Services ranked 6th in India’s Best Companies to Work for – Upto 1000 employees
•
JM Financial Services recognized as Top 10 India’s Best Companies for Reward and Recognition
•
JM Financial Services honoured as the Best Performing National Financial Advisor – Institutional
•
•
JM Financial wins "Team of the Year" in the Indian Investment Banks category
JM Financial Services received the highest Broker Grading of BQ1 by the rating agency, CRISIL. The CRISIL
Broker Grading is an opinion on the quality of operations and services provided by the graded stock broker.
•
•
Best Retail Broking House
Fastest Growing Equity Broking House (Large Firms)
… over the last decade
24
Awards and Recognition
Year
Name of Award
Details
2009
Finance Asia Country Awards for Achievement
•
Best Equity House, India
2009
Best Workplaces in India 2009
•
Ranked among top 50 companies by Great Places to Work Institute
2008
Best Workplaces in India 2008
•
Ranked among top 50 companies by Great Places to Work Institute
2008
Outlook Money NDTV Profit Awards
•
Best Merchant Banker – Runners Up
2007
Finance Asia Achievement Awards
•
Best India Deal – for Vodafone’s $12 billion acquisition of HTIL
2007
Finance Asia Achievement Awards
•
Best Secondary Offering – for ICICI’s $4.6 billion simultaneous follow-on of ADRs and domestic shares
2007
The Asset Triple A Regional Award
•
Best Follow-on Offering – for ICICI’s $4.6 billion simultaneous follow-on of ADRs and domestic shares
2007
ICRA Mutual Funds Awards
•
Open Ended Sectoral – Healthcare – 1 year performance (till 31.12. 2006), Gold – JM Healthcare Sector Fund
2006
CNBC TV18 – CRISIL Mutual Fund Awards
EuroMoney Awards of Excellence
•
•
Floating Rate Plan – JM Floater Short Term Plan
Best M&A House, India
2005
Finance Asia
Finance Asia
•
•
Best Follow-on Offering – ICICI Bank USD1.75 billion concurrent ADR and domestic share sale
Best India Deal – Reliance Industries USD 4.8 billion restructuring
Finance Asia
Asset Asian Awards
•
•
Best India Deal – USD 1.2 billion Tata Consultancy Services IPO
Best Privatisation – USD 2.4 billion ONGC follow-on offering
Asia Money
Asia Money
•
•
Best Deal in India – OIL & Natural Gas Corporation
Best Overall Strategy – Brokers
Asia Money
•
Best Overall Macroeconomics – Brokers
2004
… over the last decade
25
Thank You
The content of this document are for information purposes only and does not construe to be any investment, advice. Any action taken by you on the basis of the
information contained herein is your responsibility alone and JM Financial Limited (hereinafter referred as JM Financial) and its subsidiaries or their employees or
directors, associates will not be liable in any manner for the consequences of such action taken by you. We have taken due care regarding authenticity of the
information contained herein, but do not represent that it is accurate or complete in all respect. JM Financial or any of its subsidiaries or associates or their
employees shall not in any way be responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this
document. The recipients of this document should rely on their own judgement while taking any action based on the information provided herein.
26

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