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The Panthers won by 1-run against Sachin Baby's Lions.
Kerala, who lost to Tamil Nadu Cricket Association XI by 10 wickets in their opening match, ended their group campaign with a win.
Kerala as bowled out for 178 in the second innings after conceding a lead of 140 runs.
Nidhish S Rajagopal top-scored with 90, while opener Madhava Prasad (72) and captain M Shahrukh Khan (60) too scored fifties for the home side.
Hosts TNCA XI ended the day on 50/0 in the four-day contest.
Sijomon Joseph, Rohan Prem and Vinoop Manoharan are the other senior players in the 15-member squad.
The 57-year-old has coached Singapore national team and Tamil Nadu in the past.
The three-day camp, organised by the MRF Pace Foundation and Kerala Cricket Association., began at the Sports Hub, Karyavattom, on Thursday morning.
Jayaram was unlucky not to play for the country.
He also served as a match referee and was an apex council member of the Kerala Cricket Association.