Nimesh Kampani sells his 12% stake in JM AMC

Published on Mon, Jul 28 at 09:29 , Updated at Mon, Jul 28 at 09:34 Source : CNBC-TV18 Last year he ended his decade long partnership with Morgan Stanley. And now Nimesh Kampani is out - striking deals for himself once again. This time he's sold a 12% stake in his asset management company, JM AMC to three US based hedge funds - Valiant Capital, Blueridge and Eton Park Capital. These three investors will acquire a 4% stake each in JM Financial_s AMC for a total of a Rs 112 crore. This deal catapults the enterprise value of JM AMC to nearly Rs 1000 crore. Vishal Kampani, the Director of JM Financial MF told cnbctv18 that in addition to this, JM Financial will be alloted warrants at the same price to subscribe upto 7.5% of the post issue capital of the company. JM Financial has a three-year window to exercise these... [read full story]