Name Roll No Sap No

Nishit Sanghavi 46 40311180615

Dhruv Shah 62 40311180650

INTRODUCTION :

JM Financial Limited is an integrated financial services group offering a wide

range of capital market services to its corporate and individual clients. The
Group's businesses include investment banking wealth management and
securities business; mortgage lending; distressed credit and asset
management business (mutual fund).JM Financial Limited was incorporated
on 30th January of the year 1986 under the name of JM Share & Stock
Brokers (JMSSB). JM Financial was started as a private limited company as
an arm of JM Financial & Investment Consultancy Services. As at 15th June of
the year 1988 the company was converted as a deemed public limited
company and subsequently the company became a public company by
making necessary alterations in its Articles of Association. The Company
entered into a Joint Venture agreement with Morgan Stanley in December of
the year 1997. During the year 2001 the company redeemed last installment
of 14% Debenture and also repaid part of its unsecured loans to its promoters
with the ultimate objective of bringing down the borrowing and making the
company a Zero Debt Company.During the year 2004 the company had
changed its name from JM Share & Stock Brokers to JM Financial Limited.
J.M. Securities Private Limited was amalgamated with the company in the
year 2006. JM Financial had launched a corporate private equity fund in
August of the same year 2006 under the name of JM Financial India Fund with
US-based Old Lane Partners LP being the lead investor/co-sponsor to the
Fund. As of August 2007 the company had launched a unique Portfolio
Management Scheme that aims to offer 100% capital protection as well as
potential capital appreciation based on the Dynamic Portfolio Insurance (DPI)
methodology. As at March of the year 2008 JM Financial had acquired JM
Financial ASK Securities Private Limited. The Company has opened a full
fledged branch at Vizag the port city of Andhra Pradesh in the month of
September of the same year 2008.On 3 June 2010 Rand Merchant Bank
(RMB) a division of FirstRand Limited (FirstRand) and JM Financial
Consultants Private Limited agreed to enter into a strategic co-operation to
provide M&A advisory services to Indian and African corporates for their
activities in the Indo-Africa corridor. JM Financial Consultants Private Limited
is the investment banking division of JM Financial Group. The MoU signed
between RMB and JM Financial Consultants will enable corporates at both
destinations to explore and leverage opportunities in the economies of India
and Africa. According to the MoU JM Financial and RMB will jointly provide
M&A advisory services to Indian clients seeking to make investments into
entities or transactions in Africa; and South African and African clients
seeking to make investments in entities or transactions in India.On 20
November 2014 JM Financial Limited announced that it has received a
significant capital investment of Rs 540 crore from a global fund led by Mr.
Vikram Pandit in its real estate lending subsidiary company FICS Consultancy
Services Limited (FICS). JM Financial Limited has provided additional capital
of Rs 360 crore to this business bringing the total capital commitment to Rs
900 crore. The additional capital will enhance the real estate lending and
financing business of JM Financial.The Allotment Committee of the Board of
Directors of JM Financial Ltd at its meeting held on 11 December 2014
allotted 1.16 crore equity shares of the face value of Rs 1 each to Mr. Vikram
Shankar Pandit a Non Resident Indian upon the exercise of right by him as a
warrant holder.On 17 August 2015 JM Financial Ltd announced that its Wholly
Owned Subsidiary (WOS) JM Financial Institutional Securities Limited has
entered into a Memorandum of Understanding with Seabury Corporate
Finance LLC a subsidiary of Seabury Group LLC for strategic co-operation to
provide Investment Banking advisory services to Indian corporates for their
activities in the Aviation Aerospace and Defense business. Under the
agreement JM Financial and Seabury will jointly provide investment banking
advisory services to each party's clients who may be seeking investment
opportunities or may like to identify suitable strategic partnerships for their
respective businesses. Both companies will seek to leverage their client
relationships as well as their regional and domestic expertise in a mutually
beneficial manner.On 9 May 2016 JM Financial Products Limited a subsidiary
of JM Financial Ltd executed the Agreement to acquire securities
representing upto 9.84% (on a fully diluted basis) of the total paid up capital
of Fairassets Technologies India Private Limited. Fairassets Technologies
India Private Limited is engaged in the business of operating a web portal and
mobile application by the name of Faircent.com which provides a virtual peer
to peer lending marketplace.On 30 September 2016 JM Financial Limited
announced that JM Financial Asset Reconstruction Company Private Limited
has become a subsidiary of the company with effect from 30 September 2016.
The shareholding of the company in JM Financial Asset Reconstruction
Company has increased from 50% to 50.01%.On 15 November 2016 JM
Financial Products Limited a subsidiary of JM Financial Limited acquired
19.93 lakh equity shares of India Home Loan Limited (IHL) representing
17.53% of the total paid up equity share capital of IHL through secondary
purchase route. On 2 December 2016 JM Financial Products Limited
acquired further 15.05 lakh equity shares of India Home Loan Limited (IHL)
through preferential allotment route. After the above acquisition JM Financial
Products Limited holds an aggregate of 34.99 lakh equity shares of IHL
representing 24.50% of the total post issue paid up equity share capital of
IHL. The acquisition as above by JM Financial Products is with the intention to
transfer the entire equity stake in IHL (after factoring the carrying cost for the
period it remains in the books of JM Financial Products) to a Fund/Trust to be
established and managed/sponsored by JM Financial Investment Managers
Limited the asset management company for Alternative Assets business in
the JM Financial Group. IHL is engaged in the business of providing home
loans to individuals and families in the affordable housing segment. The
equity shares of IHL are currently traded on the BSE Limited.On 30 March
2017 JM Financial Limited announced that its subsidiary company JM
Investment Managers Limited has executed the share purchase agreement to
acquire equity shares of Spandana Sphoorty Financial Limited (Spandana)
through a secondary purchase in two tranches representing 16.26% of its
current outstanding total equity shares. On a fully diluted basis the said
acquisition would result in the holding of 6.41% in Spandana post the
preferential issue and exercise of the warrants/ESOPs by the
promoters/employees of Spandana as per the other agreements executed by
Spandana.The Board of Directors of JM Financial Asset Management Limited
a subsidiary of JM Financial Limited at its meeting held on 24 April 2017
approved the buy-back of up to 10% of the outstanding equity capital subject
to the necessary approvals as may be required.The Board of Directors of JM
Financial Limited at its meeting held on 2 May 2017 accorded its approval to
the Composite Scheme of Amalgamation and Arrangement between the
company and its Wholly Owned Subsidiaries viz. JM Financial Institutional
Securities Limited and JM Financial Investment Managers Limited. The
Scheme inter alia comprises the demerger of the Institutional Equities
Division of JM Financial Institutional Securities Limited into a new company
proposed to be incorporated as part of this arrangement and merger of JM
Financial Institutional Securities Limited and JM Financial Investment
Managers Limited into the company.On 7 July 2017 JM Financial Limited
announced that JM Financial Asset Management Limited has completed buy
back of 9.95% of its outstanding equity capital. Consequent upon the said buy
back the shareholding of JM Financial Limited in JM Financial Asset
Management Limited has increased from 53.21% to 59%.On 18 July 2017 JM
Financial Products Limited a subsidiary of JM Financial Limited completed
the first leg of acquisition of 24.35 lakh equity shares of Spandana Sphoorty
Financial Limited (Spandana) representing 8.56% of the current outstanding
total equity shares of Spandana. On a fully diluted basis the said acquisition
would result in the holding of 4.71% in Spandana.On 1 September 2017 JM
Financial Products Limited (JM Financial Products) a subsidiary of the JM
Financial Limited executed the agreement(s) to acquire equity
shares/compulsorily convertible securities of Vendiman Private Limited
(Vendiman) in two tranches. Post conversion on a fully diluted basis the said
acquisition would result in the holding of upto 41.21%. The proposed
acquisition by JM Financial Products is with the intention to transfer the
entire equity stake in Vendiman (after factoring the carrying cost for the
period it remains with JM Financial Products) to a Fund/Trust that is
sponsored/managed by JM Financial Investment Managers Limited the asset
management company for Alternative Assets business in the JM Financial
Group. This is subject to receipt of all the required approvals if and to the
extent required.On 24 November 2017 JM Financial Limited announced that
JM Financial Home Loans Limited a step down subsidiary of the company has
received certificate of registration from National Housing Bank for carrying
out housing finance activities. JM Financial Home Loans commenced housing
finance business in December 2017 with a focus on affordable housing.The
Committee of the Board of JM Financial Limited at its meeting held on 6
February 2018 approved the allotment of 4.01 crore equity shares to the
eligible qualified institutional buyers at the issue price of Rs 162 per equity
share aggregating to Rs 650 crore under the SEBI Regulations and Section
42 of the Companies Act 2013. Earlier the company's Board of Directors at its
meeting held on 2 February 2018 approved closure of the qualified
institutional investors (QIIP) issue on 2 February 2018.On 14 March 2018 JM
Financial Products Limited announced that it has further acquired an
aggregate of 7.60 crore equity shares of the face value of Rs 10 each of JM
Financial Asset Reconstruction Company Limited a subsidiary of the
company pursuant to the allotment of 7.40 crore equity shares subscribed by
the company on rights basis and 20.41 lakh shares by way of secondary
transfer. Consequent to the above acquisition the shareholding of the
company in JM Financial Asset Reconstruction Company Limited has
increased from 50.01% to 57.07%.On 16 April 2018 JM Financial Products
Limited a subsidiary of JM Financial Limited completed the second leg of
acquisition of 8.78 lakh equity shares of Spandana Sphoorty Financial Limited
(Spandana). With this acquisition JM Financial Products' holding is 12.95% of
the current outstanding total equity shares of Spandana and 6.47% on a fully
diluted basis. On 25 May 2018 JM Financial announced that its subsidiary
company viz. JM Financial Products Limited has transferred its entire equity
and preference shareholding in Vendiman Private Limited to JM Financial
India Fund II (a scheme of JM Financial India Trust II A SEBI registered
Category II Alternate Investment Fund). Further JM Financial Products
Limited has transferred 18.37 lakh shares in Spandana Sphoorty Financial
Limited (Spandana) to JM Financial India Fund II. With the above transfer and
conversion of preference shares by a few shareholders of Spandana JM
Financial Products' holding in Spandana has reduced to 3.75% of its existing
outstanding total equity shares and on a fully diluted basis it has reduced to
3.39%.

Services provided by J M Finance are :

1.INVESTMENT :

a)Advisory PMS :

Advisory PMS is an offering from JM Financial Services exclusively for high

networth individuals and corporates having large direct equity portfolios.
Adopting a consultative approach with the Client, Portfolio Manager aims to
generate absolute returns by recommending companies with strong business
model led by credible management team for medium term wealth creation.
With a strong research support that tracks both companies and macro-
economic factors J M Finance assist their clients to build a broad-based
quality portfolio with a judicious mix of long and medium term investment
ideas with strategic and tactical cash allocation strategies. The client actively
participates in the investment process and has complete control over
investment decisions.
The Advisory PMS product not only enables our client act timely on
investment opportunities but also have an expert view in the monitoring the
portfolio to match risk-return expectations, include diversification within is
investment constraints.
b) Discretionary PMS :

Ideal for clients whose busy schedule does not permit them to track the
markets actively, Discretionary PMS enables management of investments in a
guided, hassle-free and transparent manner. As per SEBI guidelines, the
client makes an outlay of minimum of 25 lakhs on seeking to avail PMS
services.
J M Finance fund management team with a collective experience of over 100
years holds the skills and ability to visualize changing economic dynamics,
thus, enabling the construction of a concentrated portfolio with higher
weights to preferred sectors. General strategy has always been to buy and
hold good quality companies that can survive the downturn and come out
stronger due to their superior businesses.
Broadly portfolios are suggested and initiated based on the client’s
investment objectives and risk appetite. Thereafter portfolios are closely
monitored and rebalanced to reduce investment gaps. This is strongly
backed by thorough research coverage of viable sectors and stocks along
with an astute allocation strategy taking into consideration several domestic
and global trends.
The team manages 3 discretionary portfolios – Focus, Growth and Value
(G&V) and India Resurgent Portfolio 3 (IRP3) exclusively. While every
portfolio caters to a specific investment objective, universally the underlying
strategy is to buy and hold good quality companies that can amicably survive
through volatilities of their businesses and come out exceptionally strong
during an upturn in their business cycle.
c)Mutual Fund Distribution :
 With a vast experience and strong delivery network, J M Finance are one of
the prominent distributors of mutual funds. Given that mutual fund houses
extend a buffet of schemes based on investment objective, underlying asset
classes, investment horizon, type of returns, etc., it becomes increasing
challenging for clients to construct a prudent mutual fund portfolio.
With expertise and intensive selection process, in simplifying and yet
constructing an effective mutual fund portfolio J M Finance assist their clients
in achieving their investment objectives / financial goals. So to begin with the
client's risk appetite and cash flow requirements are taken into
consideration.
Once the investment objective is clear the next step is to formulate an asset
allocation derived from risk profiling and identify/select appropriate mutual
fund schemes. The investment horizon for an investment in a mutual fund can
vary from 1 day (liquid fund) to about 3 years plus (equity/long maturity debt
funds).
At JM Financial Services, they have a dedicated Mutual Fund Research Desk
which provides recommendations for mutual funds through thorough
research and analysis. Mutual fund schemes are evaluated on an ongoing
basis by our proficient mutual fund research team in terms of:

 Credentials and track record of the fund house and fund management team.
 Process and risk management of the fund house.
 Risk adjusted performance measures of the scheme versus benchmark and
peer group.
 Investment style and portfolio quality of the scheme.
 Services offered by the mutual fund and how investor friendly it is in terms of
operational efficiency.
 Transparency, which is reflected in the quality and frequency of its
communications.

Our teams evaluate the past performance of the funds itself and its
comparison in relation to appropriate benchmarks as well as other funds in
the same category to present an appropriate picture to our clients.
d)Fixed income Distribution :
With this offering J M Finance distribute fixed income products such as
Company Fixed Deposit Schemes, Non-Convertible Debentures, Government
of India Bonds, 54 EC Capital Gains and Infrastructure Bonds, Senior Citizen
Savings Scheme, etc. to clients who are interested in a steady income stream
but want to indulge in low-risk products. The income may be received at fixed
intervals or at the end of a specified time period whereas the principal is
repaid to the client on maturity or on the call / put option exercise date.
Backed by good credit rating and attractive yields such products offer the
scope of not only creating wealth but also act as investment protection
vehicles as they tend to balance out the higher risk products in the portfolio.
J M Finance analyze the entire spectrum of fixed income products and
 present opportunities that address the investment needs at different stages
of life cycle of a client.
JM Financial Services extends fixed income products to its clients from both
the Primary as well as Secondary market, in accordance with their risk
appetite and investment horizon.
e)Structured Products :
Apt for high net-worth investors, through Structured Products offer tailor-
made integrated product solutions that can be attuned to the investment
profile and risk appetite of clients thus providing efficient diversification to
the investment portfolio.
Essentially, J M Finance aim to enhance the return on investment instrument
(say equities, fixed income, etc.) while investing in a complementary
instrument (say derivatives, etc.) which balances the risk and acts as a payoff
on the returns when the markets take an averse turn than the view held by the
client.
Some of the Structured Products offer principal protection which is to say
that J M Finance offer full or partial return of the principal invested at
maturity. While others offer debt like payoff or even leveraged returns.
Though structured products are prescribed for risk averse investors, it can
be a vital component of the portfolio for all kinds of investors to stay ahead of
the market dynamics especially during downturns. Thus structured products:

 Enables investors to express very specific market views and monetize the
same
 In case of capital protection, preserves buying power in market downturns
 Are highly customizable, subject to minimum corpus size
 Ability to tailor their returns to provide capital growth, income or even a
combination of the two

Various types of structured products that are offered are Auto-call, Market
Participation, Knock-Out, Golden Cushion, Enhanced FMP etc.
f)Alternative Investment Funds

Other than the traditional modes of investment of equities, fixed income and
cash, through Alternate Investment Fund (AIF) J M Finance offer their clients
an investment vehicle through which they can invest in non-traditional
options such as real estate fund, private equity, hedge funds, etc. AIFs are
ideal for high net worth individuals, institutional and corporate customers.
These funds broaden the investment avenues by diversifying the client’s
portfolio through an extensive range of products such as Private Equity,
Residential & Commercial Real Estate services, Real Estate Funds, Hedge
Funds etc.
AIFs are categorized into the following three categories:
 Category-I: These funds generally invest in start-ups or early stage ventures,
social ventures, SMEs, infrastructure or other sectors which are considered
socially or economically important for the country.
 Category-II: These include private equity funds and debt funds. Private equity
funds and debt offers investment in diversified portfolios managed by
experienced fund managers in line with well-defined investment strategies.
Hence they serve as a wary investment alternative as well as a mechanism to
hedge.
 Category-III: These include hedge funds and undertake leverage to a great
extent. Hedge funds are aggressively managed and use several types of
strategies such as leveraged, long, short and derivative positions in both
domestic and international markets.

2.Trading and DP

a)Equity and Equity Derivatives

Ideal for investors and traders, J M Finance offer Equity and Equity
Derivatives trading as well as research based services to our clients.
While in Equities J M Finance generate long term investment worthy ideas as
well as informed near term trading opportunities, with Derivatives assist their
clients in analyzing short-term and long-term market to identify effective
strategies for trading & hedging.
J M Finance research team assists clients in achieving their investment and
trading objectives through rational and disciplined approach. We look at the
bigger picture and the finer details, enabling us to provide insightful research
timely both in terms of fundamental and technical research, thus making a
compelling difference to client’s portfolio.
Backed by swift execution platforms, state-of-the-art risk management
systems and highly experienced dealers J M Finance have the prowess to
provide the impetus to their clients to carry out their chosen strategies and
make the most of the market opportunities.
Product offerings can be broadly divided into Long term Investment
Products, Positional Products and Short term Tactical Products. These
products are well structured, have pre-defined entry/ exits and a structured
risk-reward profile. They also advise clients on their portfolio holdings and
restructure portfolios from a medium to long term point of view.
b)Currency Derivatives
Currency / Foreign exchange market is the biggest financial market in the
world. The highest amount of trading both by volume and value takes place in
the currency markets. Unlike equity markets, a unique feature of the
currency markets is that it is a 24 hour market. This is because business
hours in various financial centers around the world overlap which makes it
possible to trade currencies at virtually any time. This makes the currency
market most liquid financial market in the world.
The highest possible leverage, maximum potential of earning and round the
clock trading hours has made currency trading a popular investment avenue.
While both exchange-traded and Over the counter (OTC) derivative contracts
offer many benefits, the key difference is that exchange traded derivatives
are standardized, more transparent, the counterparty risk is borne by a
centralized corporation with stringent margining systems while OTC
contracts are customized, opaque in pricing, risk management is
decentralized and individual institutions/ client take counterparty risk of each
other.
The exchange traded market can offer hedging solution to even small size
requirements whereas in OTC market, hedging a very small size requirement
may not be possible or the transaction cost may be prohibitive.
We understand that mitigating foreign exchange risk in a dynamic and volatile
global environment is of paramount importance owners of businesses
involved in export and import of goods/services overseas; or even foreign
investments. Thus with the currency derivative platform we assist our clients
to hedge such risks by locking the future currency rates. Even traders can
explore this platform to the most of the vibrancy of currency markets by
taking positions that are favourable backed by research and analysis.
With a scientific approach to traditional currency analysis, their specialized
experts focus on macro-economic and technical research to enable clients to
take informed investment decisions. J M Finance provide a seamless platform
for trading in currency derivatives across exchanges of NSE and BSE offering
trading in USDINR, EURINR, GBPINR and JPYINR.

c)Commodity Derivatives

Commodities are ideal for asset allocation purposes as it improves overall

return of a portfolio. It also helps hedge against inflation and buy a piece of
global demand growth. Commodity Derivatives futures contracts are
contracts to buy/sell specific quality/quantity of a particular commodity at a
future date.
J M Finance commodities trading business serviced through JM Financial
Commtrade Limited is meant for clients who seek an excellent execution
platform to trade in bullions, base metals, crude and other soft commodities
on SEBI recognized national level Commodities exchanges. The commodities
presently covered by us are gold, silver, crude oil, copper, nickel, zinc, lead
and natural gas.
As it with Equity and Currency markets, even the Commodity segment is
profoundly influenced by a constant string of global events. Our team of
experts constantly assesses the global macroeconomic causal factors and
attempt to create opportunities for the benefit of clients. They provide a
seamless execution platform where trading decisions are backed by sound
research in commodities. They release thematic research reports for
positional traders as well as a daily technical perspective for day traders.
For wealth clients, they enable their clients to preserve wealth through
commodity price risk management techniques, otherwise called hedging.
Hedging isolates the impact of commodity price volatility on your enterprise
and thereby helps clients in reducing exposure to market surprises.
It allows controlling costs, over which company has no control and cannot
influence. It enables investors to focus on core business activities by locking
in the appropriate conversion spread in the manufacturing cycle.
Futures’ market allows reducing price risk at a nominal cost. There are
varied hedging ideas from selective hedging, opportunistic hedging to
inventory/exposure hedging.
They also help with surrogate hedging techniques where the input/raw
material is not traded on the exchange platforms, but exhibit a correlation
with another commodity, which indeed is traded.
d)Stock Lending & Borrowing Scheme (SLBS)

J M Finance offer the Stock Lending & Borrowing Scheme to clients who wish
to lend or borrow stocks on a temporary basis. It is facilitated through an
anonymous trading platform of the Exchanges with the mitigation of risk by
the clearing corporations.
SLBS is available on all derivative and eligible Non-F&O securities as
approved by the exchange(s) from time to time. National Securities Clearing
Corporation Ltd. (NSCCL), a SEBI Approved Intermediary for SLB
Transaction, acts as a Central Counterparty providing financial settlement
guarantee for SLB transaction.
For a borrowing client it helps them fulfill their varied needs of trading,
financing or settlement of obligation. For the lending clients they stand to
earn a fee thus enhancing their returns especially on core/long term passive
portfolios without affecting the status of their holdings.
The lending client continues to remain the beneficial owners of their shares
and will be entitled to all the corporate benefits like dividends, bonuses and
stock splits.

e)ETFs
Exchange Traded Funds are essentially Index Funds that are listed and
traded on exchanges like stocks. The ETFs trading value is based on the net
asset value of the underlying stocks that it represents. Some investors may
find it challenging to master the modalities of analyzing and picking stocks for
their portfolio and hence it is an ideal avenue for both long term and short
term investors.
It allows long-term investors to diversify their portfolio at one go at a low cost
and insulate them from short-term trading activity. At the same times, it
provides liquidity for investors with a shorter-term horizon as they can trade
intra-day and can have quotes near NAV during the course of trading day.
Thus ETFs enable our clients to build a well-diversified portfolio in an
affordable manner as expense ratios are comparatively lower.
Using qualitative and quantitative assessment techniques, they assist their
clients in picking and monitoring a viable portfolio strategy that meets their
investments goals and risk tolerance. Presently Equity, Debt, Gold and
International Indices ETF's are available.
f)Depository Services

Demat Account is an account that holds the investors securities such as

shares, debentures, mutual fund, ETF’s etc. in a dematerialised or an
electronic form. A buy transaction will result in a credit entry while a sell
transaction leads to debit entry in a demat account.

Their depository services enable our clients a smoother and hassle free
settlement experience. They are registered as Depository participant (DP)
with National Securities Depositories Limited (NSDL) as well as with Central
Depository Services (India) Limited (CDSL).
They extend all the advantages of holding the securities in electronic form.
These include quick ownership of securities on settlement resulting in
increased liquidity, speedy receipt of stock benefits arising out of splits and
bonuses, easier pledging or hypothecation of shares, periodic status reports
for both holding and transactions, easy receipts for public issue allotments or
IPOs etc.
Additionally, with the centralized billing & accounting and statements offered
by them, their clients find trading with us smoother and hassle free.
3. EQUITY PUBLIC OFFERINGS
Companies sell their shares to the general investors through the public
offerings to raise capital for their working capital requirements, payoff of
debts, expansions, acquisitions, and a host of other business needs. When a
company floats such an offering for the first time it takes the route of an Initial
Public Offering (IPOs) where it offers either new or a combination of new and
existing shares to investors. Once listed, subsequent equity public offerings
are extended through the Follow-On Public Offering (FPOs).
JM Financial Services facilitates the participation of its clients in various
Equity Public Offerings (IPOs and FPOs) through their network of distributors
and owned branches. Their detailed coverage update provides a dashboard
for all forthcoming and ongoing IPO’s. Their teams provide comprehensive
research and insight to the company’s future prospects and performance,
thereby assisting clients in taking an informed investment decision.
Once the client subscribes and is successfully allotted the shares, which he /
she may choose to hold onto from a long term perspective or trade in the
secondary market as suitable to his outlook.
4. INVESTMENT BANKING & CORPORATE FINANCE
Investment Banking and Corporate Finance services through our Group
Company, JM Financial Institutional Securities Ltd. It is one of the oldest
merchant bankers in the country and provides wide range of services –
 capital raising, mergers & acquisitions, private equity and restructuring
advisory – to a diversified client base of Indian and multinational corporates
in the domestic and international markets.
This arm has pioneered several award winning innovations in the Indian
capital markets in areas of capital structuring, financial instruments and
marketing strategies.
Thus through this arm enable the clients to avail several arrangements in the
investment banking and corporate finance space, some of which include the
following:

 Access to special private equity or other equity deals.

 Enable families to raising money for their business from alliance partners,
institutions by assisting them in the process of rating to placing debt papers.
 Facilitate close interactions with Investment Banking teams and industry
specialists to identify strategic investment opportunities in business, private
equity and real estate.
 Assist promoters in increasing stakes in their companies by creeping
acquisition or buy backs.
 Facilitate tie up with in house and third party private equity as well as real
estate funds for raising fund for client’s business.
 Syndication of short term and long term debt through Fixed Income
instruments.
 Access to notable corporate advisory capabilities to structure long term
business goals by using various tax efficient vehicles.

5.Financing and Lending :

a)MTF Prime

Clients looking for instant liquidity to trade in large volume of shares but
desiring to carry their positions forward for longer period can avail of MTF
Prime facility as directed by SEBI. This facility can be seamlessly linked to the
broking account held with JM Financial Services by execution of a simple
rights and obligation document.
Just like any other funding facilities, the client will have to maintain agreed
minimum margins in the account by way of cash or approved securities. Thus
a client can avail greater leverage to diversify their portfolio and make the
most of the market opportunities at the time of placing the order itself.
The loan amount can be repaid partially or fully at any time by the client and
holdings will be released to the client’s Demat account with JM Financial
Services.
Statement of loan and funded shares will be circulated to the clients on a
daily basis so that he is abreast of the status of his loans. All MTF Prime
trades will be marked differently in the contract notes at the end of the day
for easy identification.
b)Loan Against Securities
A lifetime is spent in building a productive portfolio of financial investments
so that anyone may reap the benefits of their returns later. The Loan against
Securities product is offered through our group company, JM Financial
Products Ltd. and JM Financial Capital Ltd.
Tide over liquidity requirements by availing instant loans at low interest rates,
against the portfolio without the need to actually sell them. Loans are offered
for a portfolio of investments including shares, mutual funds and bonds.
Count on to be a benefactor in times of needs, as their group’s loan products
can be used to cater to legal and legitimate borrowing requirements,
business purpose, short term working capital requirements or meeting family
obligations like marriage, higher education of self or children, medical
expenses, etc.
Loans are granted as high as 50 crores and for an extended tenure of 12
months against the pledged securities from the approved list as prescribed
by JM Financial. During the tenure of the loan the client continues to enjoy all
the corporate benefits accrued on the securities.
c)Margin Trade Financing (through NBFC)

J M Finance facilitate its clients investing in exchange traded securities and

avail loans to fulfill their settlement obligations of the Exchange(s). The
clients stand to benefit from such loans as they can invest or trade without
blocking their entire investment capacity by deploying their own cash fully.
The client has to maintain an agreed minimum margin in the account at a
given point of time by way of cash or approved securities. Clients can
leverage their enhanced liquidity to buy more securities and keep the delivery
of the same for longer period of time with their partial margin.
Thus the product is suitable for clients who desire instant liquidity and wish to
take advantage of investment opportunities in the market, without selling
existing investment or involving fresh funds. This enables the client to
participate in the markets even during dampened market conditions when
liquidity could be a challenge.
d)Loan Against Property

Property has always been considered as a locked investment. With the Loan
Against Property offering our clients can unlock the value of their investment
by using their property as a collateral to avail loans and fulfill their business
and personal needs. Clients have the opportunity to make the most of the
economic worth of their property without giving away ownership.
On one hand clients can cater to their business needs which could range
from meeting credit needs of the trade to implementation of business
expansion plans. On the other hand they can take care of their personal
needs such as renovation of existing residential property or even a going on a
dream vacation.
Clients have the benefit to mortgage existing residential or commercial
property and avail a term loan or a Line of Credit (OD) facility or a
combination of both. A term loan is a fixed EMI product with the loan being
disbursed in a single shot or a couple of tranches, whereas Line of Credit
facility allows clients to use funds as per their need with the interest being
charged to the amount being utilized.

.e)Education Institution Lending

The success of future generations lies in the hands of progressive

educational institutions. While the need for devoted teachers, parental
involvement and sound education systems are paramount, state-of-the-art
infrastructure at educational institutes with modern amenities act as a strong
enabler in imparting quality education to the growing influx of students.
They have been working closely with educational institutions and have
understood the financial needs of the Edupreneurs which gives us the
expedience to suitably assist them in growing and expanding their Institution
by providing financial assistance by funding through our product - Education
Institution loans.
They provide both - long term and short term financial assistance to the entire
gamut of the education eco-system predominantly to Pre-schools, Affordable
Private Schools, Private Schools, Private Colleges, Education Franchises,
Coaching Centers, Training Institutes including Technical and Professional,
Training and to diversified education groups.
Financing assistance caters to supplement for new construction, implement
renovations, acquire infrastructural facilities, purchase of land for expansion
of facilities, purchase of equipment, debt consolidation, augment working
capital requirement and enablers even for institutes with a lower vintage.
With fairly flexible credit norms and cash-flow based underwriting model that
takes into account both current and projected incomes, products have been
designed to facilitate flexible and customized repayment plans keeping in
mind the different life cycle of the Institute as well as their income schedules.
With a reliable financial partner, attractive rates of interest, tailor-made
repayment terms, time bound and hassle free processing available on hand
educational institutes can aspire to build a world class Institute.
f)IPO Financing
The financial markets often witness companies floating equity public
offerings to raise funds for their needs. Many of these companies bear good
prospects in terms of future returns which reflect in their stock prices.
Through IPO financing we facilitate our clients’ application for equity shares
offered in the IPO by advancing a loan at competitive terms against an
upfront cash or stock margin. The documentation is minimal for existing
clients and funding is handled in a time bound manner, so as to ensure
speedy and timely processing.
IPO financing offering allows clients to participate in the opportunity even
with limited personal funds. The client pays only the upfront market linked
margin and the remaining amount is funded by JM Financial. This grants an
additional leverage to the client as it allows applying for a far higher no. of
shares. Once the shares are allotted and listed the client may choose to hold
them for long term appreciation or sell them for listing gains, if any.

With a view to aid Promoters to boost and expand their business we offer
loans against collaterals which not only comprise shares of their listed Group
Companies but also immovable assets and properties.
Promoter financing offer is extended 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.They
engage in meticulously processing the details of the offering because of their
involvement of the type of borrowers, underlying nature of collateral security,
special structures of the transactions, etc.