Kampani: New order

Mumbai, Sept. 16: Nimesh Kampani, the ace deal-maker who’s comfortable cutting deals with the Tatas and Reliance, is restructuring his own group to consolidate investment banking operations.

A merger between JM Securities and JM Financials is under way. The move will make it possible for Kampani to venture into banking at a later point.

JM Securities, the private holding company of Nimesh Kampani's financial group, will be merged with the group's listed company, JM Financials, a BSE notice said.

The JM Financials’ share closed at Rs 375.10, after opening at Rs 355.

The fact that stock indices are at their historic highs is another factor that has hastened JM Financials’ consolidation. JM Financials has an amalgam of businesses, which includes merchant banking, IPO management unit, a mutual fund and stock broking operations.

The Kampanis, led by the father-son duo, are consummate deal makers and known to be among the few merchant bankers to have the Reliance group and the Tatas as clients. Some years ago, Kampani signed a joint venture deal with Morgan Stanley for investment banking. The valuation of the Reliance empire to settle ownership disputes was handled by J M Financial.