JM Financial Institutional Securities Ltd (JM Financial) and Seabury Corporate Finance LLC have entered into a strategic co-operation to provide Investment Banking advisory services to Indian corporates for their activities in the aviation, aerospace, and defence business.
The move comes even as Indian Defence sector is buzzing with activities after the Government announced an increase in the Foreign Direct Investment cap from 26 per cent to 49 per cent as part of the ‘Make in India’ initiative. A number of players, including Mahindras and Reliance, have announced plans in this segment.
In this context, JM Financial and Seabury will jointly provide Investment Banking Advisory services to each party’s clients who may be seeking investment opportunities or may like to identify suitable strategic partnerships for their respective businesses.
Vishal Kampani, MD & CEO, Institutional Securities Business – JM Financial Group, commented: “Current Government, under the leadership of Prime Minister Narendra Modi, is planning and implementing systemic changes in India’s defence procurement policy to provide an impetus to domestic production, thereby offering business opportunities to private sector in defence and aviation.”
Patrick Henry Dowling, Senior Managing Director, Seabury Corporate Finance LLC, commented: “This strategic partnership lays the foundation for a successful co-operation between our firms to deliver specialised advisory services to India’s growing Aviation and A&D sectors as well as the country’s government.”