Investment Banking

J.P. Morgan has a long and successful legacy of investment banking in India. The firm's history is marked by several keystone events which are evidence of our historical and ongoing commitment to the country. J.P. Morgan was a founding shareholder of one of India's largest financial institutions and also established the country's first international investment bank in 1993 as a joint venture between J.P. Morgan and a leading Indian financial institution. During the balance of payments crisis in 1991, J.P. Morgan played a key role in advising the Reserve Bank of India on liquidity management and facilitated measures to avoid debt rescheduling. J.P. Morgan is currently one of the leading investment banks in India and has a market leading position across the spectrum of services it offers. We offer a full-service investment banking platform with unmatched breadth and depth of service. We are fully integrated with the global J.P. Morgan network, ensuring seamless execution for our clients. We are currently the leading underwriter for equity and equity-linked securities for Indian issuers, having raised close to US$15.0 billion for Indian issuers over the last three years. Our leadership in the Indian market is selfexplained by some of the key transactions highlighted below. These transactions are evidence of our breadth of transaction experience, unmatched execution capabilities and unique structuring expertise in the respective spaces. US$4.9 billion simultaneous follow-on offering of domestic shares and ADSs for ICICI Bank US$490 million convertible bond offering for Tata Motors (an innovative structure with bonds convertible into non-fungible, non-voting equity shares) US$1.0 billion convertible bond offering for Reliance Communications (largest ever CB by an Indian issuer) US$1.6 billion follow-on offering by Infosys Technologies Ltd. US$1.2 billion domestic IPO of Tata Consultancy Services

J.P. Morgan is an undisputed leader in the Indian Mergers & Acquisition space, having executed numerous domestic, as well as cross-border M&A transactions. The following landmark deals showcase our leadership position in this area: US$338 million private placement for Reliance Telecom Infrastructure Ltd. involving their tower assets US$654 million private placement for ICICI Holdings (the largest private placement in India) US$220 million Eight O'Clock Coffee acquisition by Tata Coffee US$261 million acquisition of Sabah Forest Industries SDN BHD, Malaysia by Ballarpur Industries Advised Anil Dhirubahi Ambani Group on the multi-billion dollar restructuring of the Reliance Group

So why is our business model such a success? In short, it's about a great team with great execution capabilities delivering the entire global platform to clients.

Investment Banking
Investment Banking broadly consists of two parts: origination and execution. Great origination requires in-depth understanding of client needs and the market, industry and business environment. This understanding enables the firm to design customized solutions for clients whether it is strategic initiatives like M&A, financing or risk management solutions. Execution begins once the client signs on the investment bank to convert the idea into a successful deal. J.P. Morgan's prowess comes from a highly experienced investment banking presence with a 23 member team in India providing a holistic product offering to our clients. Our scale and network give us a competitive advantage in

India against the backdrop of a rapidly growing financial market. India is arguably the key growth market, and J.P. Morgan is committed and well positioned to participate and shape this growth. J.P. Morgan is very well integrated globally and leverages its entire platform to clients in India. Each account is led by a Client Banker, who is a particularly experienced and respected member of our Investment Banking team. He or she liaises daily with the Chief Executive Officer and Chief Financial Officer of each of the clients he/she covers. Those clients can be drawn from many different areas. They can be multinational corporations, governments, financial institutions, private equity firms or institutional investors. The Client Executives work to define the specific needs of their individual clients, and draw on the expertise of our different teams across geographies to deliver the correct solution.

How does this translate for you?

You will join us as an Associate or Analyst and work on the following broad areas across industries: Mergers & Acquisitions or Equity Capital Markets or Debt Capital Markets. As a part of a Mergers & Acquisitions (or M&A) transaction team, you will focus on the purchase, sale and merger of public or private companies. You may also find yourself involved in many other kinds of transactions, including de-mergers, joint ventures or disposals and strategic reviews. M&A bankers differentiate themselves by their knowledge of local regulations and takeover rules and bring in-depth experience of past transactions. In an Equity Capital Market transaction, you will focus on providing advice, structure and execute a range of equity offerings for major corporations and governments, providing clients' access to the public markets for equity and equity-linked capital and non-public markets for equity derivatives. In addition, you will also focus on issuing hybrid securities, such as convertible bonds and structuring complex equity derivative transactions. On the other hand, if you are working on a Debt Capital Market transaction, you may be providing advice to our diverse client base on refinancing of existing debt, raising new debt for acquisitions or restructuring existing debt. Your experience here will be differentiated by the breadth of exposure you will have to different products and industries. You will have the advantage of being an Analyst or Associate with a full service global investment bank, and you will work on a very wide variety of transactions with colleagues from across the world. For example, a cross border M&A involving a UK company may involve you working closely with a M&A team from London, while an Indian FCCB may involve you working with product specialists in Hong Kong. Irrespective of the type of transaction you are working on, you can always expect exposure to senior clients and major deals from very early in your career. That's a promise, but it's also a word of caution; not everybody's ready for that kind of responsibility.