Institutional Equities

Our Institutional Equities business offers quality research and analysis-based broking services to both domestic and off-shore institutional clients. The team is well recognised as a thought leader on emerging themes across sectors as well as across the macroeconomic landscape.

By drawing on our deep intellectual capital, we provide clients with the resources and stock research reports needed to prosper in an evolving global marketplace. By means of fundamental analysis of a company, the team is able to provide valuable insights into companies. We strive to maintain the highest standards of compliance in every aspect of conducting our businesses.

Our services revolve around three key tenets:

  • High quality research with a focus on new stock ideas
  • Intensive client servicing to keep our customers abreast and ahead of key corporate/market trends
  • Efficient trade execution to give our clients the best price possible and hassle-free post-trade settlements

Prevent unauthorised transactions in your account ---> Update your mobile numbers/email IDs with your stock brokers. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day .......... Issued in the interest of Investors.

Our Services

Through exhaustive fundamental research and unique insight derived from independent thinking, our research analysts strive to identify companies that can deliver superior investment returns. Engaged in studying the economy and industry from a macro perspective, the team offers thematic research, industry research reports, and customised solutions to deliver optimum value to our clients.


Our equity salesforce leverages the firm’s highly regarded equity research reports. Focused on understanding clients’ needs, the team delivers innovative investment ideas to clients by way of fundamental analysis of stocks, in all its key geographies.

Sales and Trading

Our sales and trading teams cover top institutional investors – both domestic as well as foreign, participating in the Indian capital markets. Backed by a strong research team and consistent investments in best-in-class technology platforms, the team is able to seamlessly execute on-demand, and ensure client confidentiality in all its dealings.

Mr. Anish Damania
Mr. Anish Damania is the Managing Director and CEO of JM Financial Institutional Securities Limited.
Attention Investors
  1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020.
  2. Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.
  3. Pay 20% upfront margin of the transaction value to trade in cash market segment.
  4. Investors may please refer to the Frequently Asked Questions (FAQs) issued by NSE vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and by BSE vide notice no. 20200731-7 dated July 31, 2020 and notice no. 20200831-45 dated August 31, 2020 and other guidelines issued from time to time in this regard.
  5. Check your Securities / MF / Bonds in the consolidated account statement issued by NSDL/CDSL every month.
Issued in the interest of Investors
Increasing Awareness on Rights Entitlement

SEBI vide its circular SEBI/HO/CFD/DIL2/CIR/P/2020/13 dated January 22, 2020 streamlined the process to be followed in case of Rights Issue. One of the key features introduced in the process of Rights Issues is dematerialization of Rights Entitlements (“REs”) and ability to renounce REs by trading on stock exchange platform or off-market transfer through depository mechanism. REs are traded in the secondary market platform of stock exchanges with T+2 rolling settlement similar to equity shares.

Accordingly, investors are requested to note that REs have a distinct ISIN, and the same should not be mistaken for ordinary shares of the concerned company.

Investors may further note that the purchase of REs only gives the right to participate in the on-going Rights Issue of the concerned company by making an application with requisite application money or renounce the REs before the issue closes. REs which are neither subscribed by making an application with requisite application money nor renounced, on or before the Issue closing date, shall lapse and shall be extinguished after the Issue closing date.

FAQs on Rights Entitlement

Rights Entitlement Investors’ Awareness

Details of REs of listed companies   >
Advisory – KYC Compliance
  • All investors are requested to take note that 6 KYC attributes i.e. Name, PAN, Address, Mobile Number, Email id and Income Range have been made mandatory. Investors availing custodian services will be additionally required to update the custodian details.
  • The last date to update KYC is on or before March 31, 2022.
  • Thereafter non-compliant trading accounts will be blocked for trading by the Stock Exchange.
  • The non-compliant demat accounts will be frozen for debits by Depository Participant or Depository.
  • On submission of the necessary information to the stock broker and updation of the same by the stock broker in the Stock Exchange systems and approval by the Stock Exchange, the blocked trading accounts shall be unblocked by the Stock Exchange on T+1 trading day.
  • The demat account shall be unfreezed once the investor submits the deficient KYC details and the same is captured by the depository participant in the depository system.
  • To ensure smooth settlement of trades, the investors are requested to ensure that both the trading and demat accounts are compliant with respect to the KYC requirement.
  • The investors are hereby requested to comply with the regulatory guidelines issued by Stock Exchanges and Depositories from time to time with regard to KYC compliance and related requirements.
Advisory for Investors
Attention Investors!
  • Beware of fixed/guaranteed/regular returns/capital protection schemes. Brokers or their authorized persons or any of their associates are not authorized to offer fixed/guaranteed/regular returns/ capital protection on your investment or authorized to enter into any loan agreement with you to pay interest on the funds offered by you. Please note that in case of default of a member claim for funds or securities given to the broker under any arrangement/ agreement of indicative return will not be accepted by the relevant Committee of the Exchange as per the approved norms.
  • Do not keep funds idle with the Stock Broker. Please note that your stock broker has to return the credit balance lying with them, within three working days in case you have not done any transaction within last 30 calendar days. Please note that in case of default of a Member, claim for funds and securities, without any transaction on the Exchange will not be accepted by the relevant Committee of the Exchange as per the approved norms.
  • Check the frequency of accounts settlement opted for. If you have opted for running account, please ensure that your broker settles your account and, in any case, not later than once in 90 days (or 30 days if you have opted for 30 days settlement). In case of declaration of trading member as defaulter, the claims of clients against such defaulter member would be subject to norms for eligibility of claims for compensation from IPF to the clients of the defaulter member. These norms are available on Exchange website at following links:

    For NSE:

    For BSE:

  • Brokers are not permitted to accept transfer of securities as margin. Securities offered as margin/ collateral MUST remain in the account of the client and can be pledged to the broker only by way of ‘margin pledge’, created in the Depository system. Clients are not permitted to place any securities with the broker or associate of the broker or authorized person of the broker for any reason. Broker can take securities belonging to clients only for settlement of securities sold by the client.
  • Always keep your contact details viz. Mobile number/Email ID updated with the stock broker. Email and mobile number is mandatory and you must provide the same to your broker for updation in Exchange records. You must immediately take up the matter with Stock Broker/Exchange if you are not receiving the messages from Exchange/Depositories regularly.
  • Don't ignore any emails/SMSs received from the Exchange for trades done by you. Verify the same with the Contract notes/Statement of accounts received from your broker and report discrepancy, if any, to your broker in writing immediately and if the Stock Broker does not respond, please take this up with the Exchange/Depositories forthwith.
  • Check messages sent by Exchanges on a weekly basis regarding funds and securities balances reported by the trading member, compare it with the weekly statement of account sent by broker and immediately raise a concern to the Exchange if you notice a discrepancy.
  • Please do not transfer funds, for the purposes of trading to anyone, including an authorized person or an associate of the broker, other than a SEBI registered Stock broker.
Caution towards unsolicited messages

    It has come to the notice of the Stock Exchanges that unsolicited messages via social media platforms like WhatsApp, Telegram, etc., are being sent by unregistered or unauthorized entities inducing to deal in these stocks/Futures & Options contracts. The circulation of such posts is not only detrimental to the interest of the investors but also adversely affects the integrity of the securities market.

    Investors are advised to beware of unregistered Investment Advisors, offering assured returns and seeking trading credentials.

    Issued in the interest of Investors

    Investors are requested to note that JM Financial Institutional Securities Limited is permitted to receive/pay money from/to investor through designated bank accounts only named as client bank accounts. JM Financial Institutional Securities Limited is also required to disclose these client bank accounts to Stock Exchanges. Hence, you are requested to use following client bank accounts only for the purpose of dealings in your trading account with us. The details of these client bank accounts are also displayed by Stock Exchanges on their website under “Know/ Locate your Stock Broker” in case of NSE and under “Member Directory” in case of BSE.

    Details of Client Bank Accounts:

    Name of Bank Account

    Bank Account number


    JM Financial Institutional Securities Ltd.

    - BSE Client Account



    JM Financial Institutional Securities Ltd.

    - NSE Client Account



    JM Financial Institutional Securities Ltd.

    - NSE F&O Client A/c



    JM Financial Institutional Securities Ltd.

    - MCX SX EQ Cash Client A/c



    JM Financial Institutional Securities Ltd.

    - MCX SX EQ Derivative Client A/c



JM Financial Institutional Securities Limited is a corporate member of BSE Ltd. (BSE), National Stock Exchange of India Ltd. (NSE) and Metropolitan Stock Exchange of India Limited (MSEI). 

Designated email ID for redressal of investor grievances relating to stock broking services -

Grievances relating to research services can be sent to

Registration granted by SEBI and certification from the National Institute of Securities Market (NISM) in no way guarantee performance of JM Financial Institutional Securities Limited or provide any assurance of returns to investors.


Escalation Matrix:

Details of Contact Person Address Direct Contact No. Email ID Operational / Working Hours

Customer care / Operations

Mr. Dhiraj Singal

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025

+91 22 6630 3141

Mon-Fri; 9:00 AM to 6:00 PM

Head of Customer care / Operations

Mr. Samir Shah

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025

+91 22 6630 3140

Mon-Fri; 9:00 AM to 6:00 PM

Compliance Officer

Mr. Sahil Salastekar

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025

+91 22 6224 1073

Mon-Fri; 9:00 AM to 6:00 PM

Chief Executive Officer (CEO)

Mr. Anish Damania

7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025

+91 22 6630 3020

Mon-Fri; 9:00 AM to 6:00 PM

In absence of response/complaint not addressed to your satisfaction, you may lodge a complaint with:

SEBI at or

NSE at or

BSE at or


Please quote your Service Ticket/Complaint Ref No. while raising your complaint at SEBI SCORES/Exchange portal.

Filing of complaints on SEBI Complaint Redress System (SCORES) – Easy and Quick
  1. Register on SCORES Portal (;
  2. Mandatory details for filing complaints on SCORES - Name, PAN, Address, Mobile Number, Email ID;
  3. Benefits:
    1. Effective communication.
    2. Speedy redressal of the grievances.

JM Financial Institutional Securities Limited
SEBI Registration Nos.: Stock Broker - INZ000163434 and Research Analyst - INH000000610
Registered office: 7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025, India
Board line: +91 22 6630 3030

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