13
May
Hot topic: How is India playing out in a high valuation environment?
India continues to be a bright spot for private markets in the region, driven by strong secular tailwinds, favourable demographics and booming public markets. As allocation to this compelling market increases, so does the valuations, thus finding the right risk reward opportunity and ensuring a strong execution is easier said than done. Leading investors disucss the opportunity set in India and how to navigate this nuanced but highly attractive market.
- Is the Indian market overvalued? How is India playing out in a high valuation environment?
- How do LPs view the market and what are their expectations on returns?
- Are LPs open to allocating to smaller, new GPs with a compelling story to capture growth at the ground level?
- How comparable are the returns for mid-market Vs large cap?
- How is the secondary market developing?
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SpeakersRaghubir Menon Partner SHARDUL AMARCHAND MANGALDAS & CO
Amit Kakar Managing Partner & Head of Asia NOVO HOLDINGS
Imran Jafar Managing Partner GAJA CAPITAL
Anand Prasanna Co-Founder & Managing Partner IRON PILLAR
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Raghubir Menon is a partner and is currently the regional practice head for M&A and PE at the firm (Mumbai region). Raghubir primarily works on matters pertaining to strategic M&A, listed company takeovers and private equity acquisitions. He advises numerous strategics, sovereign wealth funds and large private equity funds in relation to strategic opportunities and acquisitions in India. He has represented clients in large number of complex public M&A acquisitions in listed Indian companies.
Raghubir has earlier worked with White & Case LLP, in London and Singapore for five years.
Bar Council of Delhi, Solicitor (England & Wales)
Raghubir was ranked as the number one lawyer by Mergermarket in each of 2017 and 2018 for the entire Asia–Pacific region by deal volume and in 2018 by deal value. He is consistently ranked as Band one lawyer for PE by Chambers and Partners.
He is also ranked by Who’s Who Legal (for M&A and Governance) and is also identified as a “thought leader” by Who’s Who Legal in 2019. He has been recognised by IFLR1000, 2019-20 as a “Highly Regarded” lawyer. He won the M&A Lawyer of the Year: PE for Asia Pacific at the Asian Lawyer Emerging Markets Awards 2015.
Dr. Amit Kakar joined Novo Holdings Asia in August 2020 as Head of Asia to lead investments and partnerships across the region, focusing primarily on the markets in China, Southeast Asia and India. Dr. Kakar has more than 25 years of healthcare experience with several senior management roles across the globe and having worked in India, China, Singapore, Denmark and the USA.
His previous roles include Head of M&A and Business Development at Everlife Asia, Head of Healthcare Investments for Asia with the Avenue Capital Group, and various senior leadership positions with GE Healthcare. Dr. Kakar is a Medical Doctor with a postgraduate degree in Radiation and Nuclear Medicine from Tata Memorial Hospital and Cancer Centre in Mumbai, India.
Imran is a Managing Partner at Gaja Capital.
Gaja Capital is India’s leading mid-market growth capital investment firm. Gaja Capital's aim is to help create India’s next generation of market leaders in sectors such as Software, Education, Consumer, Financial Services and Healthcare.
Imran has 26 years of experience in Private Equity, Pharmaceuticals and Technology services. Prior to Gaja Capital, Imran worked in a variety of roles of increasing responsibility at Dr Reddy’s and Wipro Technologies.
At Gaja Capital, Imran leads investments in the Software, Education and Consumer clusters. He has been closely involved with Gaja Capital’s investments in Amber (Student accommodation marketplace), Signzy ( SaaS platform for BFSI), Leadsquared (Sales automation SaaS platform), Educational Initiatives (B2B Education Software), Kangaroo Kids (Pre-K and K12), KOOH Sports (Performance sports), Sportzvillage (youth sports), Lighthouse Learning ( Pre-K & K-12), John Distilleries (AlcoBev) and CL Educate (Supplemental education).
Imran has postgraduate degrees in software engineering from BITS-Pilani and an MBA from IIM-Bangalore.
Anand Prasanna is the Co-founder and Managing Partner at Iron Pillar. Iron Pillar is a growth stage investor specializing in enterprise and consumer technology companies building their core products “from India for India and the world”. Since 2016, the firm have partnered closely with founders to guide their businesses from early growth stage to sustainable enterprises generating $100 million or more in revenue.
Anand is a member of the Board of Directors of technology companies including FreshToHome, Servify, Curefoods and Skill-Lync. Previously, Anand was leading the Asia office of Morgan Creek, a global investment management firm, where he helped build and manage their Asia portfolio out of Shanghai. He also have extensive work experience in India and rest of Asia with Sequoia Capital, McKinsey & Co and Squadron Capital.