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Financial wizards look within to aid brethren

business Updated: Dec 13, 2009 21:12 IST
Lalatendu Mishra
Lalatendu Mishra
Hindustan Times
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Two of India’s finest financial wizards, Nimesh Kampani and Vallabh Bhansali who have been enabling India Inc to raise resources for decades, are now turning inward to help their own Jain community to tap the markets with small-sized share issues.

In their bid to help large numbers of Jain entrepreneurs, business tycoons of the community are organising a two-day financial “supermarket” event in Mumbai this month to make the uninitiated understand and learn the intricacies of the financial world and grow.

“We want our businessmen to know different methods of raising resources so that they can grow fast. At the financial super market, we will teach them how to make an IPO (initial public offer) to raise Rs 25 crore,” said Hemant Shah, the global president of Jain International Trade Organisation (JITO), which has brought together all sects and sub-sects of the community.

Though the total Jain population is less than 1 per cent of the Indian population, their contribution to income tax collection is more than 23 per cent.

Kampani’s JM Financial and Bhansali’s Enam groups will lead the pack of 100 stalls of financial institutions, banks, investment banking outfits, mutual funds, financial advisors that will be opened at the financial “supermarket” to assist budding Jain entrepreneurs.

“There will be one on one interaction. We will facilitate meeting with all intermediaries including leading banks, financial institutions, investment bankers, private equity providers, financial consultants, chartered accountants, lawyers, agents, brokers all under one roof,” Shah said.

The meeting will have guests from outside the community and these include N.R. Narayana Murthy, Shashi Ruia and S.P. Hinduja.