JM Financial Limited
JM Financial Group forayed into the financial sector services as JM Financial & Investment Consultancy Services Pvt. Ltd. (JMFICS) in Mumbai in 1973. During the journey of over five decades, the group has garnered many a firsts. Over the years, JM Financial has consolidated its position and emerged as a strong and respected diversified financial services player. It has been a steady and remarkable journey leading to growth and success. Some of the key milestones and highlights of the group are listed below.
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1973
JM Financial & Investment Consultancy Services Pvt. Ltd. (JMFICS), established in Mumbai
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1979-1980
JMFICS filed first offer document for listing securities of an Indian client with FSA, London
JMFICS became the first to introduce fully convertible debentures in Indian Capital Markets
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1986
JM Financial Share & Stock Brokers Limited, now known as JM Financial Limited (holding company), was incorporated to engage in the business of Stock Broking and Securities
Regional office set up in Delhi
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1989-1994
JMFICS introduced equity warrants in the Indian Capital Markets
JM Financial Limited listed on the Bombay, Ahmedabad and Delhi Stock Exchanges
JMFICS introduced 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, the first private sector Mutual Fund, commenced operations
Tied up with CSFB, S. G. Warburg & Co. Morgan Grenfell and DZ, British Investment Banks on informal basis
JM Financial gets listed with an IPO - IFC Washington acquires a stake at 15%
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1999
Formed a joint venture with Morgan Stanley in the areas of Investment Banking and Securities business
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2002-2006
Managed India’s first IPO through Book Building
Recorded three firsts in India - first Indian dual tranche FCCB issue, first billion dollar IPO, first conditional IPO
Launched Private Equity Fund
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2007
Separated from joint venture with Morgan Stanley
Continued 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
Launched Real Estate Fund
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2008-2012
Initiated expansion of business in International Jurisdictions
Commenced Asset Reconstruction Business
Expanded operations in Fixed Income Business
Managed India’s first IDR issue
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2012-2017
Announced partnership in the Real Estate NBFC with an fund, managed by Mr. Vikram Pandit and associates
Established step down subsidiary in the USA to cater to and service overseas clients/investors
Received license for Housing Finance from National Housing Bank (NHB)
Commenced SME Business
Rating upgrade to AA/Stable
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2018 – 2020
Reported highest ever quarterly net profit first in Q1FY22 and again in Q3FY22
Launched Bondskart
QIPs - Rs.650 Cr in 2018 and Rs.770 Cr in 2020
Equity fund raise in Real Estate arm of Rs.835 Cr
Public issue of secured NCDs of JM Financial Products Limited (JMFPL)
Acquisition of 2.18 % stake in JMFARC and rights issue of Rs. 200 Cr
First ever public issue of secured NCDs of Rs.750 Cr in JM Financial Credit Solutions Limited
Rights issue of ~Rs.280 crore in JM Financial Asset Reconstruction Company Limited
Announced equity fund raise in JMFCSL of up to Rs.875 crore
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2021 – 2022
Launched Bondskart
Reported highest ever consolidated operating PAT
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2023 – 2024
Reported highest ever annual operating revenue and highest ever consolidated operating profit in Q3FY24