JM Financial to acquire stake in investment bank
J M Financial on Monday said it is planning to acquire up to 30 per cent stake in an investment banking firm in the US or Europe, to have global presence.
By PTI |
MUMBAI: Nimesh Kampani-headed J M Financial on Monday said it is planning to acquire up to 30 per cent stake in an investment banking firm in the US or Europe, to have global presence.
"We may buy some 20-30 per cent stake in a firm either in the US or in Europe to have a global presence," company Managing Director Vishal Kampani said here.
After snapping ties with global investment banking firm Morgan Stanley last year, it has become imperative for the domestic firm to acquire stakes in foreign firms to service domestic companies with overseas presence.
However, there was nothing on the cards as of now, Kampani said.
Nimesh Kampani said the company, predominantly into investment banking, securities trading and research was doing well.
"We are excited and doing well. We have maintained good relationships with our clients and they have faith in us," he said.
Earlier this month, J M Financial acquired a controlling 60 per cent stake in ASK Securities, by entering into a joint venture with the broking firm, for an undisclosed sum.
"We may buy some 20-30 per cent stake in a firm either in the US or in Europe to have a global presence," company Managing Director Vishal Kampani said here.
After snapping ties with global investment banking firm Morgan Stanley last year, it has become imperative for the domestic firm to acquire stakes in foreign firms to service domestic companies with overseas presence.
However, there was nothing on the cards as of now, Kampani said.
Nimesh Kampani said the company, predominantly into investment banking, securities trading and research was doing well.
"We are excited and doing well. We have maintained good relationships with our clients and they have faith in us," he said.
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Earlier this month, J M Financial acquired a controlling 60 per cent stake in ASK Securities, by entering into a joint venture with the broking firm, for an undisclosed sum.
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