JM Financial

JM Financial was founded in 1973 by Nimesh Kampani and was originally set up as a consultancy practice.[1][4] In 1986, it was incorporated as an private limited company to engage in the business of Stock-broking.[5] In 1991, it listed on the Bombay Stock Exchange becoming a publicly listed company group[6] and in 2006 it held a secondary listing on the National Stock Exchange of India.[7] The group expanded into different businesses outside Stock-broking which include Asset Management in 1994,[8] Private Equity in 2006,[9] Real Estate investment in 2007,[10] Distressed Credit in 2008[11] and Mortgage lending in 2017.[12]

In 1999, JM Financial and Morgan Stanley set up a Joint Venture in India named JM Morgan Stanley.[13] On February 2007, Morgan Stanley announced the end of JM Morgan Stanley Joint Venture agreement.[13] It acquired JM Financial's 49% stake in the institutional brokerage business, and sold its 49% stake in the Investment banking business to JM Financial.[13]

JM Financial has four main business segments: 1.Investment banking, Wealth Management and Securities Business (IWS); 2.Mortgage lending; 3.Distressed Credit and 4.Asset Management.[2] The IWS and Mortgage lending segments make up the majority of the group's revenue.[2] Virtually almost all of the group's revenue is from only India.[2]

Although JM Financial is a publicly listed company, Kampani and his family still exhibit significance influence over it. According to shareholding disclosures, Kampani and his family hold over 15% of the group's shares.[14] This doesn't include indirect ownership via private entities etc.[14]

• Official site