JM Financial (JMFL) Is An Indian Financial Services Group Headquartered In Mumbai With Branches In India. It Also Has Overseas Branches In Ebene, Singapore, New Jersey And Dubai, Although Almost All Of The Group's Operations Are Domestic In India.
History
JM Financial Is An Operating And Holding Company That Engages In Various Financial Services Businesses On Its Own And, Through Its Subsidiaries And Associates, Forms A Diversified But Integrated Financial Services Group Known As JM Financial. JM Financial Holds Investments In Its Subsidiaries, Which Are Engaged In Various Businesses, Namely Non-bank Financial Services, Asset Restructuring, Equity Research, Stockbroking For Institutional And Non-institutional Investors, Wealth Management Consulting, Mutual Fund Asset Management, Etc.
Founded In 1973 By Mahendra Kampani And Nimesh Kampani, JM Financial Was A Spin-off Of The Investment Banking Arm Of Jamnadas Morarjee Securities, Initially As A Consulting Firm. In 986, It Was Incorporated As A Private Limited Company Engaged In Stockbroking.
In 1991, It Went Public On The Bombay Stock Exchange As A Group Of Listed Companies And In 2006 It Went Public On The National Stock Exchange Of India For A Second Time. The Group Expanded Into Different Businesses Beyond Stockbroking, Including Asset Management In 1994, Private Equity In 2006, Real Estate Investments In 2007, Bad Credit In 2008 And Mortgages In 2017.
In 1999, JM Financial And Morgan Stanley Formed A Joint Venture In India Called JM Morgan Stanley. In 14, 2007, Morgan Stanley Announced The Termination Of The JM Morgan Stanley Joint Venture Agreement. It Acquired JM Financial's 49% Stake In The Institutional Brokerage Business And Sold Its 14% Stake In The Investment Banking Business To JM Financial.
Organization
JM Financial Has Four Main Business Segments: 1. Investment Banking, Wealth Management And Securities Business (IWS); 2. Mortgage; 3. Bad Credit And 4. Asset Management. WS And Mortgage Division Account For The Majority Of The Group's Revenue. Virtually All Of The Group's Revenue Comes From India.
Even Though JM Financial Is A Publicly Traded Company, Kampani And His Family Still Show Significant Influence Over It. According To The Shareholding Disclosure, Kampani And His Family Own More Than 15% Of The Group. This Does Not Include Indirect Ownership Such As Through Private Entities.
Rankings
According To Mergermarket League Tables, JM Financial Typically Ranks Among The Top 10 Deal Values In India, With Its 2021 Ranking At No. 4.
