IFLR India Capital Markets Forum 2019


January 16, Four Seasons Mumbai


Speakers


Speakers at IFLR India Capital Markets Forum 2019 include:  

Madhur Agarwal


head, debt capital markets & market sales, India
J.P. Morgan

Madhur Agarwal runs the debt capital markets and market sales business for J.P. Morgan in India. He is responsible for both onshore and cross border financing transactions. On markets side, he leads the FI and corporate sales teams for FX, rates and derivative products.
Agarwal had joined J.P. Morgan in Global Corporate Bank in India in 2009. He worked in the Private Financing Group in HK for 2 years before he moved back to India in 2012. Prior to joining J.P. Morgan, Madhur had 9 years of banking experience across EM Structured Finance team at Credit Suisse Singapore and before that in different roles at ICICI Bank in India and Singapore.

Agarwal holds an MBA from Indian Institute of Management Calcutta (Gold Medalist) and a B.Tech (Electrical) from Indian Institute of Technology Delhi.



Vaisshali Babu


senior vice president - head of products and market intelligence  
BNP Paribas Securities Services India

Vaisshali Babu is the Senior Vice President with BNP Paribas Securities Services India currently heading the product vertical and market intelligence desk.

Babu has been part of BNP Paribas family since 2009. She is one of the instrumental & key person in setting up the securities services business in India. She was earlier heading the operations team. Babu has overall experience of more than 20 years in capital market spread across her tenure with SHCIL, Syntel State Street and DSP Merrill Lynch. She comes with extensive experience in the fields of custodian operations, project management, strategic investment group along with trade, cash & FX.

Babu is active member of various industry groups and is currently appointed as member of NSCCL Advisory Committee. She is also one of the six selected members ASIFMA's Leadership Forum for India and has been a speaker for past two ASIFMA's India Focused Forums.

Babu is a Conduct champion for the securities services business for the bank and also shoulders Volker champion responsibilities.
Babu holds master's degree in commerce from Mumbai University with business administration qualification from Symbiosis, Pune having specialization in Finance. Babu is very active in CSR initiatives at BNP Paribas as well as associated with NGOs dealing in child education.



Avijit Banerjee


CEO & managing director 
Argon Capital Advisors 

Avijit Banerjee is the CEO & Managing Director at Argon Capital Advisors and have been spearheading the end-to-end advisory mandates in terms of fund raising and M&A in various sectors that includes domestic, cross-border and international transactions. Having built a relationship with a network of more than 300 institutional investors globally, he has access to incubation fund, seed fund, angel investors, VCs, and PEs - for early stage, growth stage and mature stage investments within the investors fraternity.

His expertise of close to two decades spans beyond buy side and sell side and also involves doing valuations, market sizing & opportunity assessment, competitor bench-marking, gap analysis, commercial & business due diligence, feasibility studies, business plan, and formulating growth, expansion, optimization, performance improvement and restructuring strategies in sectors such as healthcare, hospitality & tourism, education, retail, consumer goods (durable and non-durable), food & beverage, e-commerce (across sectors) platforms, cement & infrastructure, real estate, metals and BFSI.

Banerjee has also authored numerous white papers on interest rates, managing inflation, valuation methodologies, and the impact of digitization on the speed of business, among others. He holds a Master's Degree (MBA) in Finance from IMT Ghaziabad, India.



Nitin Bhuwania


AVP legal
Piramal Capital & Housing Finance 

Nitin Bhuwania is part of legal team of Piramal Capital & Housing Finance Limited and currently designated as Assistant Vice President -  Legal. He has rich and considerable experience in handling legal transaction in the banking and finance industry. His area of interest are Real Estate laws, Mortgages, International taxation, Taxes and Foreign inflow of funds, Due-diligence.

Bhuwania holds dual qualification and has graduated in law from Mumbai University and is also qualified as Chartered Accountant from Institute of Chartered Accountants of India.

David Cameron


partner 
Dorsey & Whitney

David Cameron is a New York qualified lawyer who specializes in representing and advising corporate and investment banking clients in connection with equity and debt securities offerings pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933, including high-yield private placements, block trades and medium-term note programs for issuers across Asia.  Cameron also has extensive experience with green bonds and Masala bonds and has been actively involved in the India market for over 10 years.

Cameron joined Dorsey & Whitney is October 2018 from Allen & Overy in Hong Kong. Founded more than 100 years ago, Dorsey has over 550 lawyers in 20 offices worldwide and has been in Asia for over 18 years, with locations in Hong Kong, Shanghai and Beijing, and the firm has been active in India since 2005.

Cameron's recent work before joining Dorsey & Whitney included advising on the State Bank of India's Section 4(a)(2) equity offering of US$2.3 billion, the largest-ever Qualified Institutional Placement out of India to date, JSW Steel's US$500 million high-yield bond offering, CK Hutchison Holdings' US$1.8 billion dual tranche Rule 144A senior note offering and Sri Lanka's sovereign US$1.5 billion Rule 144A senior note offering.



Varoon Chandra


partner 
AZB & Partners

Varoon Chandra co-heads the capital market practice at AZB, advising on transactions spanning equity, debt and high-yield work. He has advised issuers, selling shareholders and underwriters on a number of international and domestic capital market transactions, including issuances of foreign currency convertible bonds and global depository receipts as well as Indian initial public offers, rights issues and qualified institutions placements. Recent marquee transactions led by him include the IPOs of BSE Limited, Central Depositary Services (India) Limited and HDFC Asset Management Company Limited as well as a simultaneous QIP and ADR offering by HDFC Bank Limited.



Ipsita Dutta


executive director
Morgan Stanley

Ipsita Dutta is Executive Director and Head of Legal for India at Morgan Stanley in Mumbai. She assumed this role in November 2016. Prior to moving in-house, Ipsita has spent more than eleven years in private practice having worked at Amarchand & Mangaldas Suresh A. Shroff & Co and thereafter at Cyril Amarchand Mangaldas where she was a Partner and Head of the Financial Regulatory Practice Group.

Dutta's area of focus has been securities law, financial services and regulation. Over the years, she has routinely advised financial institutions on entry strategy (green field and brownfield), business transfers, restructuring, new product/business feasibility assessment, on-going compliance, market conduct issues. As general counsel for India at Morgan Stanley, coverage ranges from investment banking, global capital markets, institutional equities / broking, investment management as well global in-house centres.

Dutta completed her law degree from the National University of Juridical Sciences in Kolkata, India and was enrolled as an advocate with the Bar Council of Maharashtra & Goa.



Alexander Imseeh

 
associate 
LSE

Alexander Imseeh joined the Debt Capital Markets team at the London Stock Exchange in September 2014 as a Fixed Income Product Specialist. In this role, Alex mainly advises companies and market participants such as legal advisors and DCM on the process of issuing and trading bonds on LSE's wholesale market while contributing to the expansion of the Masala and Sovereign bond franchises of the LSE across the world. During the past three years Alex was part of many ''world first'' and important bond listings including the first Masala corporate bond issuance by an Indian entity, HDFC.


Gesu Kaushal


executive director and co-head corporate finance 
Kotak Investment Bank

With over two decades of rich experience in the investment banking industry in India, Gesu Kaushal has deep understanding of the Indian capital markets and has led fund raising for corporates across various sectors including consumer, healthcare, technology, banking and financial services. She has been associated with a number of marquee capital market transactions in India, across products, and handled complex situations through the various capital market cycles over the last two decades. She has played an important role in the regulatory evolution of the Indian capital markets and has been involved with many capital market innovations over the years.  Kaushal was also a part of the sub-committee of the Primary Market Advisory Committee (PMAC) of SEBI and was involved in conceptualization and introduction of the various products, and more recently the amendments in SEBI ICDR Regulations. Her participation on various regulatory is an endorsement of her experience and understanding of the capital markets in India.

Kaushal has been a Director of the Association of Investment Bankers of India (AIBI) since September 2011.  She is the Chairperson of AIBI and its representative on the Primary Markets Advisory Committee of SEBI. Kaushal is a graduate in Economics Hons from Lady Shri Ram College, Delhi University and an MBA from Jamnalal Bajaj Institute of Management Studies.



Pragati Kumar


vice president, assistant general counsel
J.P. Morgan

Pragati Kumar has 13 years of experience in advising in relation to securities markets. Pragati has a wide experience as a transactional lawyer, compliance officer and in-house advisor giving her an opportunity to understand securities laws from different perspectives. She has worked on number of IPOs, qualified institutional placements and rights issue and has frequently interacted with the SEBI on regulatory framework. In JP Morgan she primarily covers ECM / DCM / M&A matters and also provides legal coverage on structured credit transactions. Previously Pragati was with BNP Paribas where she was a senior lawyer covering Investment Banking, and whole host of products including Margin Financing and Wealth Management. Prior to joining BNP Paribas, Pragati worked at JPMorgan's India compliance covering the ECM, DCM, M&A and, research businesses. Pragati has also previously worked at Luthra & Luthra and AZB & Partners.



Manan Lahoty

 
partner 
L&L Partners


He has advised on some of the largest and prestigious Indian transactions in the domestic and international capital markets, including the public offering of Coal India, the largest in India till date, the initial public offering of Bharti Infratel, and the CPSE Exchange Traded Fund, the first product of its kind in India. Some of the other recent transactions he has advised on include the initial public offering of Avenue Supermarts, Reliance AMC, Godrej Agrovet Lemontree Hotels, CreditAccess Grameen and IndoStar Capital; qualified institutions placement of Idea Cellular, Oberoi Realty, Edelweiss Financial and Indiabulls Housing Finance; rights offering of IL&FS Transportation and Kesoram Industries; stake sales by Daiichi in Sun Pharmaceutical, Petronas in Cairn India and Avantha in Crompton Greaves on the stock exchanges. He also provides general advice on securities law matters to leading domestic and international investment banks in India, such as BoA-Merrill Lynch, Citi, Deutsche, Kotak, Goldman Sachs, JM Financial, Axis Capital, ICICI Securities, Morgan Stanley, Nomura and UBS.

In addition, Lahoty's practice includes providing advice on Mergers & Acquisitions (M&A), pre-offering corporate restructuring, corporate governance and other corporate and securities law matters. He has worked on high-profile M&As and has also been involved in several privatization transactions of the Central and State Governments in India.
 
Lahoty has been recognized as one of India's leading Capital Market lawyers and has been ranked in Band 1 by Chambers and Partners. He has also been regularly included in the top tier by other independent surveys and publications including IFLR 1000, AsiaLaw Leading Lawyers, Legal Era and Who's Who Legal.



Niloufer Lam


partner
ZBA

Niloufer Lam is a leading financing and capital markets professional with 20+ years experience at Linklaters, Morgan Stanley, Cyril Amarchand and ZBA. She heads the financing and capital markets practice at ZBA advising on Indian law issues across financial services/lending/project finance, debt capital markets, regulatory advisory, structured investments, derivatives and insolvency/restructuring domestically and internationally. She advises corporates, international and domestic banks, other financial institutions, private equity funds, hedge funds, multilateral agencies and investors. She has advised on deals aggregating over U.S.$120 billion over her career throughout Europe, Asia and India both as investment banker and lawyer. She advises across multiple international bond transactions (green bonds/ masala bonds/high yield bonds/medium term note programmes) and domestic non-convertible debenture transactions and in particular several innovative 'first of their kind' transactions.


Swati Mandava


vice president, investments
Brookfield Asset Management

Swati Mandava is qualified as a lawyer in India and works on investments at Brookfield Asset Management. Swati has over 11 years of experience working on cross-border mergers and acquisitions, private equity investments and divestments across sectors in India and has worked on structuring various types of transactions with a focus on foreign investment into India. In her role at Brookfield, Swati is focussed primarily on deals and is involved in navigating the intricacies of doing deals in India and certain other emerging markets.

Swati has been associated with Brookfield, since Brookfield's foray into India in 2009, first as an external advisor and then as in-house counsel since 2015. Prior to her current role, Swati worked with a tier 1 law firm in India and advised largely on mergers and acquisitions, private equity transactions and private fund related matters.


Hitesh Mandot 


senior vice president & co-head  
ICICI Securities

Hitesh Mandot is Senior Vice President and Co-Head Capital Markets Execution with ICICI Securities Limited. He is having varied and rich experience of 20+ years, wherein he has handled numerous capital market and advisory transactions including IPOs, Public Issues, Rights Issues, QIPs, IPP, Listing through Scheme of Arrangements, Reverse Merger, Open Offers, Buy-backs, Delisting, etc. Some of his marquee transactions include IPO of Indian Energy Exchange (first listed energy exchange), Equitas Holdings (first listed small finance bank), Tejas Networks (first non-regulated promoter less listed company under SEBI ICDR), Westlife - Hardcastle (first reverse merger listing for McDonald's business), Future Ventures (first listed fund of funds) and PTC India (first listed power trading company).

Prior to joining ICICI Securities, he has worked with Edelweiss Financial Services, Axis Capital - Enam Securities and UTI Securities. He has also been actively engaged with SEBI and has participated in various discussions on post issue timelines for listing and framework for SME Regulations.

He is a chartered accountant and post graduate in accountancy and business statistics from MDS University, Ajmer.


Sujaya Moghepadhye 


co-head execution, equity capital markets, investment banking   
Edelweisse

A Chartered Accountant with over 16 years of experience in investment banking and finance industry. Moghepadhye is a strategic level professional who spearheads the Equity Capital Market execution process at Edelweiss Financial Services Limited. Has efficiently lead over 100 equity and debt capital markets deals, has worked across various equity and debt products, including IPO, Rights Issue, private placements, Qualified Institutional Placements including NCD plus warrants, InVITs, Buy Backs, Open Offers etc across various sectors.  Experience of handling various first of its kind and unique type of equity capital market transactions.

She has been actively participating in various discussions on regulatory matters on equity capital markets.  An active speaker in various forums including IPO conclave organized by Institute of Chartered Accountants of India. Modhepadhye is part of the ''Senior Leadership Group'' at Edelweiss group.



Madhurima Mukherjee


partner
AZB & Partners

Madhurima Mukherjee is a senior partner based in the Delhi offices of AZB & Partners, and is part of the Firm's capital market practice group. She has over 20 years of experience in corporate finance, including, advising issuers and banks on initial and follow-on public offerings, rights issues, domestic and international debt issues, in diverse sectors. During the span of her career, Ms. Mukherjee has been ranked as a notable lawyer in India in the capital market space by various well-known journals and publications.



Lakha Nair


senior vice president - corporate finance, investment banking
Axis Capital

Lakha Nair is a part of the specialized corporate finance team of Axis Capital Limited. She has rich experience across  capital market products including  Initial Public Offerings, Follow on Offerings, Private Placements, Qualified Institutional Placements Buybacks, Open Offers, Delisting's, etc across various sectors.  In her career spanning over 15 years she has worked on various marquee and pioneering capital market transactions. She has been a part of SEBI sub-committee which recommended disclosures relating to IPOs by Insurance Companies. She has also actively participated in reviewing various regulatory policies latest being the framework  for reducing the timeline for listing post closure of IPO.

Nair is post graduate from R. A. Podar College of Commerce and Economics and a rank holder Chartered Accountant from the Institute of Chartered Accountants of India.



Raghwendra Pande


senior vice president
ICICI Securities

Raghwendra Pande leads the Infrastructure, Energy & Real Estate practice at ICICI Securities Ltd.

During his over 20 years of career, he has had a full 360 degree extensive experience in corporate finance across financial management, corporate lending, Investment Banking Strategy, Capital markets, M&A and Private Equity Advisory. His deep understanding of valuations, market pulse, insights on regulatory environment and sense of interest from Global, Domestic, Public as well as Private investors, has led him to close several deals successfully even in tough market scenarios. In the current cycle he has raised more than Rs. 15000 crs from the equity capital markets.

Raghwendra has also contributed towards policy formulation at MOF, NHAI and SEBI, and placed the first Infrastructure investment Trust (InvIT), of the country, for IRB Infrastructure Ltd., raising Rs. 5000 crs, with 90% foreign investor participation among QIBs. He has, further, closed the first Private InvIT raising around Rs. 3200 crs from global pension funds and insurance companies, for L&T Infrastructure Development Projects Ltd.

He holds a Post Graduate management degree in management.



Nidhi Parekh 


senior vice president 
Citigroup
 
Nidhi Parekh has ten years of experience in securities markets. She completed her graduation in Business Administration and Law with honors in Corporate Law from National Law University, Jodhpur. She started her career as a capital markets lawyer at Cyril Amarchand Mangaldas (erstwhile Amarchand Mangaldas Suresh A. Shroff & Co.) in 2007 and moved to Citigroup as Senior Vice President after performing the role of Partner Designate at CAM. She has worked on various pioneering transactions including the first and only issuance of Indian Depository Receipts and landmark deals including one of the largest stock exchange sale by the co-founders of a conglomerate in IT space. She has also actively participated in reviewing various regudlatory policies.


Neeta Sanghavi


head - legal
Avendus Capital

Neeta Sanghavi is a dual qualified  solicitor (India, England & Wales) with over 21 years of wide ranging experience as legal counsel in banking, finance and asset management.

Sanghavi has a proven ability to manage ultimate legal responsibilities and to develop an effective legal  function. Neeta has extensive exposure to the financial service industry successfully leading the legal roles in the local as well as international asset management businesses, ECM (including blocks), DCM, M&A ( public & private), global markets, transaction banking, trade finance, structured finance, sponsor financing, leveraged buy outs, acquisition finance, distress asset financing, project financing, litigation including enforcements, investigations and engaging with regulators, securitization, private equity, equity sales and trading, research and the entire suite of private banking products.

Sanghavi has successfully carried out core responsibilities include legal/regulatory advisory; litigation and dispute resolution; legal documentation/communications; review of new products/ businesses/ activities; transaction structuring; facilitation/interpretation of external legal advice and information; corporate governance; formulation and implementation of legal policies/procedures.

Specialties: Internal management of legal/regulatory risk for financial institutions/entities. Substantial transactional, regulatory and other local & international experience.



Nishant Sharma


co-founder & partner
Kedaraa Capital

Nishant Sharma is a Co-Founder & Partner of Kedaara Capital, a private equity investment fund focused on India. The firm's investors include endowments, private and public pension funds, sovereign wealth funds and global family offices. Kedaara Capital partners with entrepreneurs and management teams to build enduring value in growth-oriented businesses and support them to achieve higher levels of performance. Kedaara also actively engages with family owned businesses to identify and create carve out plays, which with a focused approach can create a win-win. It offers solution-oriented capital combining deep strategic & operational expertise in focused sectors, consultative approach and global connectivity to deliver superior returns. The firm has a strategic partnership with Clayton, Dubilier & Rice, an operationally oriented global private equity firm.

Sharma has over 12 years of investment experience, encompassing the full lifecycle of private equity in India across a variety of industries and across private and public markets. He has driven investments, managed the portfolio and successfully divested investments over this period.

Before co-founding Kedaara, Sharma served as a Principal and one of the core members of the India investment team at General Atlantic ('GA'), a leading growth oriented private equity firm with over $17bn under management. He co-led GA's investments across financial services, healthcare, business services & technology including investments in IndusInd Bank, Jubilant Lifesciences, IBS Software among others.

Prior to GA, Nishant worked with McKinsey & Company focused on clients across the information technology services, financial services, healthcare and government sectors. In addition, he worked at the Bill & Melinda Gates Foundation in setting up the largest HIV/AIDS prevention program in India.

Sharma served on the Board of Au Financiers (now Au SFB) and currently serves on the Board of Vishal Mega Mart, Aavas Financiers (formerly Au Housing) and Vijaya Diagnostics.

Sharma received an M.B.A. from Harvard Business School, and a Dual Degree (B.Tech. and M.Tech) in Biochemical Engineering and Biotechnology from Indian Institute of Technology, Delhi.



Ranjan Sharma


director and head of equity capital markets
UBS

Ranjan joined UBS in Aug 2018 to run the ECM vertical, responsible for origination, structuring and execution of transactions. He has previously worked in the capital markets team at Bank of America Merrill Lynch and J.P. Morgan.
 
With over a decade of experience in Indian markets, Ranjan has led over US$40bn of capital raise for Indian issuers through multiple products across equity and debt markets. He has been involved in multiple "firsts" in terms of sector debut, innovative structures and also had the opportunity to lead some of the largest marquee offerings out of India.
 
Ranjan holds MBA from Jamnalal Bajaj Institute of Management Studies and he graduated in M.B.B.S. from KEM Hospital, Mumbai.



Mohit Saraf

 
partner 
L&L Partners

Saraf heads the Corporate, Mergers & Acquisitions and Private Equity practices at the Firm. With over 20 years of experience across sectors & industries, he has advised major global and Indian companies.
He has been recommended as one of Asia's top 25 M&A lawyers; and was honored by ALB HOT 100 as one of the top performing lawyers.
He has been awarded the ''Shaurya Chakra'' (a national peacetime gallantry award by the Indian President, Mr. R. Venkatraman); and is also a recipient of various national & international awards and has been consistently ranked as a Band 1 M&A lawyer in Who's Who Business Lawyers, Chambers Asia Leading Lawyers, Asia Pacific Legal 500 and Practical Law Company.

Chambers & Partners describes him as ''a dream lawyer for corporate transactions because he balances the legal and commercial aspects of a transaction''.

IFLR1000 Financial & Corporate lists him as Leading Lawyer in Banking, Energy & Infrastructure, Project Development, M&A and Project Finance; while Asialaw lists Saraf, as a Leading Lawyer for Corporate M&A and Project Finance.

The RSG 2015 Report recognizes him as ''Recommended by Clients'' for Corporate / M&A.

Additionally, he has over 50 publications in various national & international journals and magazines like Financial Worldwide, Finance Yearbook by PLC, Economic Times, Business Standard, Financial Express, Powerline, Tele.net, India Infrastructure, India Business Law Journal and SIAC Yearbook.

He is also a visiting faculty at various law & management schools in India and is a regular speaker at various conferences.



Laurence Van der Loo


director - technology and operations
ASIFMA

Laurence is Director, Technology and Operations at ASIFMA, the Asia Securities Industry & Financial Markets Association.

Based in Hong Kong, Laurence is responsible for coordinating ASIFMA's Operations and Technology efforts including regulatory implementation, cost efficiencies, KYC/AML, fintech/regtech and cyber and cloud. ASIFMA's work in this area includes regulatory advocacy, driving harmonization and work on industry best practices in these areas. In addition, she oversees several of ASIFMA's regional committees in China and India. These committees help develop and shape ASIFMA's regulatory engagement s to drive capital markets development in both countries. Laurence also supports the CEO team with ASIFMA's corporate governance and board processes.

Laurence has over 10 years of experience in the financial services industry. Prior to joining ASIFMA in 2016, she was responsible for European business development at Vistra Hong Kong, assisting foreign companies and funds to set up in Asia. Before that, she managed a portfolio of Natural Resources Companies at ING Corporate Banking in Brussels, working on numerous ECM, DCM, securitisation and syndicated loan deals for her clients.

Laurence holds a Master Degree in Business Economics from the University of Ghent, and a Master Degree in International Business from EAE Business School. She is member of the Exco of the Belgium-Luxembourg.



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