Live Mint on M&A:2015
Ketan helped us raise equity funds running a multi-pronged strategy that resulted in bringing into the company good long term investors at a favorable valuation. This exercise was preceded by a well-planned investor relation exercise covering potential investors both domestically and overseas. He remained involved through the entire exercise from start to finish. I would like to wish him the very best in his new endeavors.
Managing Director Apar Industries Limited.
Ketan helped us with successfully refinancing our Convertible Bonds. I appreciated the fact that he pro-actively identified the opportunity, was not afraid to challenge us or our thought processes prior to negotiations, and then relentlessly worked on both sides to get a deal done which is highly praiseworthy. I wish lots of luck and success in his new venture
CEO Prime Focus Limited
We have worked with Ketan and found him to be very knowledgable and well connected in the financial markets. We were able to explore Mezz debt, Private Equity and QIPs with him and found his advice and actions to be focussed entirely on our interests. He was patient, persistent and focussed on the best results for us and not influenced by his own financial interests. We wish him the best in his future endeavors.
Vice Chairman Shriram EPC Group
Ketan represented one of the lead managers when Punj Lloyd decided to go public. He and his team researched well to help us plan and prepare ourselves prior to the IPO, and provided useful inputs to successfully position our strengths and communicate our growth story to global investors. The IPO was extremely successful. I wish Ketan all the best in his future endeavors
then Director Corporate Affairs Punj Lloyd
We worked with Ketan while he was at Daiwa for various initiatives. He helped us and our investee companies related to Japan and Korea, and I found him providing sound advice on identifying potential opportunities in dynamic markets with a good pulse on navigating cultural sensitivities.
Partner Barings Private Equity
It was a pleasure to interact with Ketan during Standard Chartered's investment in Prime Focus. He played a key role in bridging issues that arise owing to differences between requirements of functioning of large professional institutions and entrepreneur run companies.
Managing Director Standard Chartered Private Equity
Ketan helped us raise $86m in a complex transaction involving four - five instruments, tight deadlines, multiple changes in deal structure owing to regulatory issues. His practical inputs were very useful during negotiations, solving deadlocks, and addressing cumbersome procedural requirements.
COO Prime Focus Limited
It was a pleasure to work with Ketan during CLSA Private Equity's investment in Apar Industries. He was professional and worked to address a win-win solution.
Managing Director CLSA Private Equity
Ketan Shah worked as part of the Barclays team in the latter part of 2007 to successfully raise upto US$ 120m. (through a feeder fund) for the Tata Realty Initiatives Fund 1 from offshore investors.Wishing him the very best in his endeavours.
then Executive Director Tata Realty and Infrastructure Limited
Ketan worked with me on debt financing and privatisation bids for the Ultra Mega Power Privatisation when I was at Essar Power. I found him to be reliable and he provided practical support on financing and process issues.
then MD & CEO Essar Power
Ketan played a key role in successfully taking our company public at a time when valuation of infrastructure and power companies which had large projects but low revenues was a difficult exercise. Over the years, he has introduced new potential investors from US, Korea and Japan for different businesses including our clean energy business. We wish him all the best in his endeavors.
Chairman Lanco Group
Panini Advisors LLP is led by an experienced investment banker Ketan J Shah(KS). KS is an MBA from Indian Institute of Management, Ahmedabad, and his versatile experience comprises senior positions across seven platforms in circa 25 years - SBI Capital Markets Ltd. (Mumbai& Ahmedabad), Torrent Group (a private group with interests in the power and pharma sectors), Ernst & Young Pvt. Ltd., ICICI Securities Ltd., Barclays Capital Ltd., Edelweiss Financial Services Ltd. & Daiwa Capital Markets India Pvt. Ltd.
He last held the position of Head - Investment Banking at Daiwa, a Japanese investment banking house.
Fund raising through Private Equity, IPOs & Listings, FPOs, QIPs and Convertible Bonds; minority equity induction from global strategic investors, raising of a Private Equity fund.
Sell Side Divestitures, Buy Side Acquisitions, Open Offers, M&A transactions in India and abroad, Privatizations by state government and central government undertakings, Buy Side Bid Advisory and Financing for PPPs/public private partnerships, viability gap funding structures, commercial implications of statutory regulations, capex efficiency and financing evaluations, etc. He also has operational exposure to the industry on the finance and commercial side that spans routine finance and commercial issues, making submissions to the State Electricity Regulatory Commissions, commercial planning at power utilities, land acquisitions, etc.
Mezzanine Finance, Rupee Term Loans, External Commercial Borrowings, (ECBs), non-recourse Project Finance for infrastructure projects (from Indian public sector banks), Syndicated Foreign Currency Term Loans (from global banks), Sponsor Funding, LBOs, Acquisition Financing,issuance of listed/unlisted non-convertible debentures, global bond issuances in institutional or retail markets; debt restructuring of stressed assets.
KS has worked with a wide range of organizations - public sector undertakings, professionally run private institutions, promoter driven corporate groups, the big four global audit firms, multinational global banks, securities houses and MNC corporates from the West as well as the East, as well as companies, lenders, regulators, debt investors and equity investors of different hues in India, Singapore, Hong Kong, Korea, China, Japan, Middle East, UK, Europe & the US.
Select testimonials have been shared. Details of specific transactions related to each of the above products and industries can be obtained during personal interactions.
Induction of minority strategic partners or divestment of minority or controlling equity stakes
Panini ( pronounced paa-ni-ni ) was an Indian sage circa 500 BC, who is known to have published the first known rules of grammar in his treatise "Ashtdhyayi". Centuries later, the 3900 odd rules he formulated continue to be the most comprehensive rules for sustainable and accurate language communication, duly reflected in the fact that even current coding software is known to rely upon them.
The Triskelion, is a Celtic symbol that holds two major components, motion (action, competition, man's progress) and triad attributes (mind, body, spirit). In Greek, the term triskelion literally means "three-legged", appropriately, this sign looks very much like three legs running. All the three legs, protrusions or angles are positioned in such a way that the symbol appears as if it is in constant forward motion. The exact symbolism has meant different things at different points in history, depending upon the era, the region, the culture and the mythology. The celtic symbol as our logo represents not just the progressive motion and layered attributes it stands for, but also reflects our desire to draw inspiration from around the globe to support our Indian perspectives
Sage Panini is an inspiration for our guiding philosophy that adhering to the fundamental financing principles is the key to sustainability of growth businesses in an era of global competition. He reminds us that getting your financial grammar right, if viewed as a discipline, can be instrumental in the seamless bridging of the increasingly globalized financing and operating worlds.
The shades of Amber have dual connotations. On the one hand, yellow and orange are the colours of the rising sun, denoting positive energy, and, the sunrise opportunities we see our clients as, on the business horizon; and on the other, amber is also the colour between red and green in a traffic signal. For our clients, as advisors, we play the role of a guiding light in terms of picking up speed or exercising caution, the advance signal for booming or declining markets.
21-May-15 Ketan Shaah interview on Zee Business channel - India macro, policy and reforms
India 2020 report interview
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