Cat II · Managed by JM Financial Alternative Credit
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Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.
JM Financial Pre IPO Trust is a SEBI-registered Category II Alternative Investment Fund (reg. IN/AIF2/25-26/2047), registered in February 2026 and managed by JM Financial Asset Management Limited (CIN: U65991MH1994PLC078879) — the AMC arm of the JM Financial Group. This is JM Financial AMC's maiden pre-IPO Alternative Investment Fund, with a target corpus of ₹1,500 crore, publicly launched under the brand name 'The Pre-IPO Fund'. The fund received SEBI approval in early 2026 and marks a strategic expansion of the AMC's AIF platform — completing a three-pronged AIF ecosystem covering credit (JM Credit Opportunities Fund), real estate (JM Financial India Real Estate Trust), and pre-IPO equity (JM Financial Pre IPO Trust). The fund will invest in companies expected to list on Indian stock exchanges within 18 months of investment, extending up to the anchor book stage of their IPO. As India's pre-IPO investment market matures, the fund aims to provide superior risk-adjusted returns by capturing pre-listing valuation upside for eligible institutional and HNI investors. The fund is headquartered at 7th Floor, Cnergy, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025.
Chirag Negandhi
Managing Director – JM Financial Services Limited & JM Financial Limited
Chirag Negandhi oversees Institutional Equities, Equity Capital Markets, Private Wealth, Alternative Investments, PMS, and Real Estate Advisory for the JM Financial Group. His deep expertise in equity capital markets and IPO advisory directly supports the origination and diligence pipeline for the Pre-IPO Trust. He brings over two decades of capital markets leadership experience, having previously served as Joint Managing Director at Axis Capital. He is a management graduate from Purdue University and was conferred the ET '40 under 40' Award.
Neha Agarwal
Managing Director & Head – Equity Capital Markets
Neha Agarwal leads Equity Capital Markets at JM Financial, with deep IPO pipeline relationships that provide sourcing and advisory advantages for the Pre-IPO Trust's investment strategy.
Amitabh Mohanty
Chief Executive Officer
Amitabh Mohanty is the Managing Director and CEO of JM Financial Asset Management Limited and the primary architect of the firm's AIF expansion. He announced the Pre-IPO Trust in early 2026 as part of the AMC's comprehensive AIF ecosystem vision: 'Alternatives will remain a key priority for the group. We are investing heavily in building specialist teams, robust risk management processes, due diligence and investor experience across platforms.' He brings over two decades of asset management experience, with prior roles at Karvy Capital Limited and SBI Funds Management.
Jaisinh Suchak
Managing Director – Alternative Investment Funds
Jaisinh Suchak is the Managing Director leading the Alternative Investment Funds business at JM Financial Asset Management Limited, with oversight of all credit, real estate, and pre-IPO AIFs including the Yield Enhancer Distressed Opportunity Fund I.
Satish Ramanathan
Chief Investment Officer (CIO) Equity
Mayukh Datta
Chief Business Officer
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