Panel Discussion III – Mutual Funds – The Path to USD 1 trillion Industry in IndiaModeratorMr. A. Balasubramanian is the Managing Director & Chief Executive Officer of Aditya Birla Sun Life AMC Limited. A stalwart of the mutual fund industry, he brings with him over three decades of rich experience.

He has been associated with the organisation since 1994. Prior to assuming the role of the CEO in 2009, Mr. Balasubramanian served as Chief Investment Officer from 2006 to 2009. As Managing Director & CEO, Mr. Balasubramanian oversees over Rs. 3.1 lakh crore in Assets Under Management at Aditya Birla Sun Life AMC. Before joining ABSLAMC in the year 1994, he worked with GIC Mutual Fund, Can Bank Financial Services and Pandit & Co. between 1989 and 1994.

Mr. Balasubramanian has been awarded CEO of the Year title by Asia Asset Management in 2018 and 2020. He has been awarded Chairman’s Individual Award by The Aditya Birla group for being an Outstanding Leader in 2015 and for being a Leader of Leaders in 2018.

Mr. Balasubramanian is closely associated with key industry bodies. He has been on the board of AMFI (Association of Mutual Funds in India) since 2009 and was the Vice Chairman of AMFI in 2015-2016. From 2016-2018, he was the Chairman of AMFI. He has been reappointed as the Chairman of AMFI in 2021 and is also the ex-officio Chairman of AMFI’s Financial Literacy Committee. He is also a Governor on the Board of Governors of National Institute of Securities Markets (NISM), and member of the advisory committee of the SEBI Investor Protection and Education Fund (IPEF).

He has completed advanced management programs from Indian Institute of Management, Bangalore and Harvard Business School. He also holds a bachelor’s degree in science (mathematics) and a master’s degree in business administration from GlobalNxt University.

Mr. Balasubramanian is involved with philanthropic work through various charitable organizations. He is actively engaged in initiatives towards Mother & Child healthcare and supporting Indian Art & Culture. He is one of the active members at Sathya Sai Sanjeevani Centre for Child Heart Care. He is also associated with Sathya Sai University, Gulbarga that imparts knowledge on Human Excellence to students during their higher education. He promotes Indian Arts and Village Traditional Culture by being a Trustee at Melattur Bhagavata Mela Foundation.

 Panel Discussion II –  Growing with Sustainability – Inspiring Practices relevant for Emerging MarketsModerator Mr. Amarjeet Singh, working with SEBI for the last 29 years has extensive experience in regulation and supervision of securities markets. He is presently working as Executive Director in charge of Market Regulation Department responsible for policy formulation and supervision of Market Infrastructure Institutions (MIIs) He also heads the Office of International Affairs at SEBI.

Previously, Mr. Singh headed the Corporation Finance Department for over 4 years, dealing with Primary Market reforms, Issuance and listing of securities, Corporate governance, Corporate restructuring, Delisting etc. Earlier between 2010 and 2017, he was heading the front office of Chairman, SEBI as his Executive Assistant and also the Office of International affairs. In his earlier stint, he headed the Northern Regional Office of SEBI at New Delhi from 2005 to 2009.

Mr. Singh has been involved in various international regulatory initiatives. He has acted as Sherpa for SEBI’s representation on the Board of International Organization of Securities Commissions (IOSCO) for 7 years. He chaired the Assessment Committee of IOSCO during 2016-18 and steered an assessment program for conducting thematic assessments at the global level.

He represents SEBI as a part time member on the board of National Financial Reporting Authority and on the board of Governors of the Indian Institute of Corporate Affairs. During 2017-19, he was on the Board of National Institute of Securities Market (NISM), an institute founded by SEBI.

He has also represented SEBI on numerous Committees set up by Reserve Bank of India and Government of India. In the recent years, his nomination on such committees include Member of Core Investment Committee set up by RBI in 2019 post ILFS fiasco, Member of Committee set up by Ministry of Corporate Affairs on Corporate Social Responsibility (2019) and Insolvency Law Committee (2018).

Apart from an MBA, he holds a Master’s degree in Economic Policy Management from Columbia University, NY, USA.

He is a recipient of Rotary Foundation Educational Award, 2000 for promoting leadership development and international understanding by Rotary International, USA.

Inaugural Session

Theme Address 

Mr Ananth Narayan Gopalakrishnan is a Whole Time Member of Securities and Exchange Board of India (SEBI) looking after Market Intermediaries Regulation and Supervision Department (MIRSD), Alternative Investment Fund and Foreign Portfolio Investors Department (AFD), Integrated Surveillance Department (ISD), Department of Economic & Policy Analysis (DEPA), and Information Technology Department (ITD).  He is also at present a Member of the Board of Governors of National Institute of Securities Market (NISM).

Prior to the current assignment, Mr Ananth Narayan held the position of Associate Professor, S.P. Jain Institute of Management & Research, Mumbai. Prior to that, he had more than two and half decades of experience in banking and financial markets and has held various senior positions.

Mr Ananth Narayan has also served as a Director on the Boards of various organisations. He has also been a Member of various advisory committees constituted by SEBI and RBI.

He holds a Post-graduate Diploma in Management from Indian Institute of Management, Lucknow and a Bachelor of Technology (Electrical Engineering) from Indian Institute of Technology, Bombay.

Inaugural Session

Opening Address

Dr. Nair assumed charge as Director, NISM on 20^th September 2021.

Dr. Nair was a Member of the Securities Appellate Tribunal (SAT) during 2016-21. Before joining the SAT, he was an officer of the Indian Economic Service for about 31 years and held various positions in the Government of India.

He was involved in substantive policy-law-institutional reforms in the financial sector in various capacities. These include report of the Financial Sector Legislative Reforms Commission (FSLRC), Bankruptcy Law Reforms leading to the enactment of the “Insolvency and Bankruptcy Code, 2016”, reforming commodity derivatives market regulation culminating in the merger of the Forward Markets Commission with the Securities and Exchange Board of India and a modern monetary policy framework with a Monetary Policy Committee, culminating in necessary amendments to the Reserve Bank of India Act, 1934; to mention a few of such reforms.

Dr. Nair has a Ph.D. in Economics (Market Regulation) from the Jawaharlal Nehru University (JNU), New Delhi. He has a Masters in Development Economics from the University of East Anglia, UK and Masters and Bachelor’s degrees in Economics from the Kerala University.

He has been a member of several Committees/Working Groups/Task Forces dealing with various issues in the financial sector. He has also been writing articles on topical financial sector issues.

Dr. Nair started his career in 1983 as a lecturer of Economics.

Mr. Dipen Desai is General Manager, Regulatory IT vertical of BSE Limited. He has Master of Business Administration degree and certifications like PMP, PRINCE2, Data analytics from IIT – Roorkee and ITIL.

He has led various technology & operations leadership positions in Retail, Telecom and Finance industry. He was mainly responsible for rolling out IT systems for newly setup businesses for India’s one of the largest Telecom and Retail business.

In his 23 years of work experience, he has spent over 12 years with BSE and has rich experience in providing technology solutions to various departments like Surveillance, Inspection, Listing, Department of Investor services, Bulk SMS and Email Solutions for all Departments of BSE. He has spent 7 years at Reliance in the field of implementing information systems at PAN India level, such as collection system, retail systems etc. He was IT Head for Experian India for a period of 4 Years and was pioneer in leading the implementation of Experian Consumer Credit Bureau in India.

He is a member of Market Data Advisory Committee (MDAC) of SEBI. He is also a member of the several working groups formed by SEBI such as Device Identifier, recommend a secured trading application, technical glitch etc.

Panel Discussion I -REITs and InvITs: Opportunities and Challenges Gautam is Partner, PwC India and is qualified as a Chartered Accountant in 1987 and had stints with two leading accounting and tax consultancy firms, which was followed by a long association of over 12 years with an independent practice founded by him. He joined PwC as a Partner in September 2003, and since then has held various roles including leading the India Tax and Regulatory practice between July 2015 and December 2020, prior to which he was leading the Tax and Regulatory practice in Western India and the Financial Services’ Tax and Regulatory group. He was also the Asset Management Sector leader for PwC in India. He presently leads the PwC global relationship for one of India’s largest conglomerates.

Over the years, Gautam has been working with multinational and domestic clients across a wide spectrum of services and has varied experience of over 30 years spanning multiple sectors.

Gautam is presently a member of SEBI’s Alternative Investment Policy Advisory Committee as well as of the SEBI HySec Committee dealing with REITs and InvITs. He is a Board member of the India Chapter of APREA, a regional Real Assets Industry Body and a member of the CII Committee on Private Equity. He has been a member of the American Chamber of Commerce, the National Direct Tax Committee of the Confederation of Indian Industry, as well as of the Expert Advisory Committee of the Institute of Chartered Accountants of India.

Gautam holds a postgraduate degree in law and financial management and is also a member of the Institute of Chartered Accountants of India.

Panel Discussion III – Mutual Funds – The Path to USD 1 trillion Industry in IndiaHarsh is the co-founder of Groww. He holds a Bachelor’s degree from IIT Delhi and MBA from UCLA. He has more than 15 years of experience in product and business with India’s leading tech startups. At Groww, he looks at growth, strategy and business.

Keynote Address

 Panel Discussion I – REITs and InvITs: Opportunities and Challenges

Moderator

Kranti Mohan has over 15 years of experience in advising on Indian securities laws. He has advised on almost the entire spectrum of capital markets transactions, including IPOs, QIPs, rights offerings, overseas listings (including through business trust route), buybacks, and block/ bulk trades on the stock exchanges. Over the last few years, he has also extensively advised on establishing and listing business trusts, infrastructure investment trusts, real estate investment trusts and yieldcos.

Kranti is also a member of the Hybrid Securities Advisory Committee constituted by SEBI and a member of APREA’s India Infra and InvITs Committee.

He was an active participant in the Firm’s initiatives related to the consultation process on various aspects of Invits and REITs and collaborated with few stakeholders in making representations to various governmental/ regulatory authorities, including the Prime Minister’s Office, Ministry of Finance, Central Board of Direct Taxes, the Reserve Bank of India and SEBI.

In the past, Kranti was also a member of the committee constituted by SEBI for streamlining disclosure standards for equity offerings and the working group on evaluating REITs of CII.

Inaugural Session

Guest of Honour

Ms. Madhabi Puri Buch assumed office as Chairperson of Securities & Exchange Board of India (SEBI) with effect from March 2, 2022.

Ms. Buch has served as Whole Time Member, SEBI from April 2017 till October 2021 during which she handled various departments in SEBI.

Prior to that she had a career in financial markets and banking of around 3 decades. She served as Consultant to the New Development Bank in Shanghai, Head of the Singapore office of the Private Equity Firm, Greater Pacific Capital, Managing Director and Chief Executive Officer at ICICI Securities Limited and Executive Director, on the Board of ICICI Bank.  Ms. Buch also served as a non-executive director on the Boards of various companies.

Ms. Buch holds an M.B.A. from the Indian Institute of Management, Ahmedabad and is a Graduate in Mathematics from St. Stephen’s College, New Delhi.

Panel Discussion II -Growing with Sustainability – Inspiring Practices relevant for Emerging Markets

Mr. MVR Reddy is currently holding the position of CSO cum Executive Director (Safety, Sustainable Development, Environment & Ash Management) at NTPC Limited at its Corporate Centre, Noida. He has 38 +years of rich work experience in Indian power sector and the associated supply chain across various locations.

Prior to joining NTPC, he had completed Bachelor’s in Engineering (B.E.) in Mechanical Engineering from Osmania University, Hyderabad in 1985. He has also acquired Post Graduate Diploma in Business Management from MDI, Gurgaon (Haryana) In 2005.

His work area includes Sustainability, Climate Change, O & M (Operation & maintenance) of power plants, Coal Mining, Project Management, Environment & Ash Management and Safety. He has headed 3 Business Units of NTPC including the Mining projects as Business Unit Head and Chief Executive Officer of Aravali Power Company Private Ltd.

Currently, he is leading the Sustainability team for developing Net Zero Strategy of NTPC in association with NITI Aayog, Sustainability Reporting & Assurance, ESG Strategy and Ratings etc.

Panel Discussion II -Growing with Sustainability – Inspiring Practices relevant for Emerging MarketsNavneet Munot is the MD & CEO of HDFC Asset Management Company Limited, a joint venture of HDFC Ltd. with abrdn Investment Management Limited. He joined the firm in February 2021.

Navneet has 28 years of rich experience in Financial Markets. Prior to joining HDFC AMC, he was the Executive director and Chief Investment officer of SBI Funds Management Private Limited. Navneet was a key member of the executive committee and was responsible for overseeing investments worth over $ 150 billion across various asset classes in mutual funds and segregated accounts. Navneet was a Director on the board of SBI Pension Funds (P) Limited.

In his previous assignments, he was the Executive Director & Head – multi-strategy boutique with Morgan Stanley Investment Management and Chief Investment Officer – Fixed Income and Hybrid Funds at Birla Sun Life Mutual Fund.

Navneet has a master’s degree in Accountancy and Business Statistics and a qualified Chartered Accountant. He is a Charter Holder of the CFA Institute and CAIA Institute. He has also done Financial Risk Management (FRM).

Talk on ‘Key Directions for Securities Law Research in India’   

Prof. Nigam Nuggehalli is the Registrar, National Law School of India University, Bangalore.

Prof. Nuggehalli was previously a Dean, School of Law at BML Munjal University, Gurugram. He has also taught as an Associate Professor in the School of Policy and Governance at Azim Premji University, during which time he also headed the university’s newly founded LL.M programme.

Professor Nuggehalli holds a DPhil from the University of Oxford Faculty of Law, an LLM in Taxation from New York University and a BA., LLB (Hons.) from the National Law School of India University.

Before moving to India, Professor Nuggehalli was a Principal Lecturer teaching tax law and commercial law at BPP Law School, London. He led a team of academics in delivering undergraduate programmes in jurisprudence and postgraduate programmes in commercial law and international tax law. Before joining academia, he worked as a tax lawyer in New York and is a member of the New York Bar and the India Bar (Karnataka).

As a lawyer and as a law academic, Professor Nuggehalli has practiced and taught a variety of legal subjects (contracts, commercial law, corporate law, taxation) with reference to the legal regimes in the United States, the United Kingdom, and India. He has extensive research and publication experience in legal issues relating to international taxation, commercial law, and statutory interpretation. He is the author of a leading text on Indian international taxation.  He is also a member on two government committees, on the General Anti-Avoidance Rules (GAAR) and Foreign Portfolio Investment (FPI)  respectively.

Panel Discussion IV –  RegTech, SupTech & Regulatory Compliances – Global Trends and Regulatory Roadmap

Moderator

 Shri Pramod Rao took charge as Executive Director in SEBI on July 15, 2022. He will handle the Department of Debt and Hybrid Securities (DDHS) and Enquiry and Adjudication Department (EAD). Prior to this assignment, Shri Pramod Rao held the position of Group General Counsel at ICICI Bank and provided strategic oversight to the legal function for the ICICI group. Earlier, he served as a member of Board of Directors of ICICI Securities Ltd., ICICI Prudential Trust Ltd. and ICICI Trusteeship Services Ltd. Shri Rao has also served as General Counsel for Citi India cluster and was responsible for the Legal, Secretarial and Security & Investigative services within Citi India. He also worked with IndusLaw, a law firm as a resident partner, overseeing its Banking and Finance practice. He has also participated and contributed to various legal and regulatory reform initiatives of the government, regulators and industry forums. Shri Pramod Rao holds degree of B.A.LL.B. (Hons) from National Law School of India University, Bangalore.

Panel Discussion I – REITs and InvITs: Opportunities and ChallengesMr. Ritwik Bhattacharjee is the Chief Investment Officer at Embassy REIT. Ritwik was a member of the IPO team that listed Embassy REIT on the Indian stock exchanges in April 2019. Prior to joining Embassy REIT, Ritwik managed a family office in India that invested across public and private asset classes. Ritwik spent over 12 years as an investment banker at global banks, including Nomura, Citi, UBS and JPMorgan. As an investment banker, Ritwik worked on numerous REIT and real estate capital markets and advisory transactions in the United States and across Asia. He holds a Bachelor’s of arts degree in economics from Middlebury College, a master’s degree in business administration from the Amos Tuck School of Business Administration, Dartmouth College, and a master of arts degree in law and diplomacy from the Fletcher School of Law and Diplomacy, Tufts University.

 

Panel Discussion IV –  RegTech, SupTech & Regulatory Compliances – Global Trends and Regulatory Roadmap

S Swaminathan is the Founder & CEO of IRIS, India’s leading Regtech & Suptech, serving 6000+ customers across 50 countries from Singapore in the east to Argentina in the west.

In India, IRIS, was instrumental in the introduction of Suptech initiatives for the first time in MCA, RBI and SEBI long before the terms Regtech and Suptech had even been coined.

IRIS counts among its clients for its Suptech offerings, capital market regulators, banking supervisors and business registries from all over the world, each of whom has implemented the firm’s Suptech suite of offerings to strengthen their respective supervisory systems.

An economist trained at Yale University, USA, he served as a Consultant to the World Bank in Washington DC before returning to India in the late 80s to pursue a career in the media, straddling print and television. Somewhere along the way, he helped co found his first entrepreneurial venture, a software company and even found time to work with India’s cricket establishment.

He has been a member of the Consultative Committee on XBRL, MCA, Govt. of India. He was also Chairman, IT sub-committee, CII, Western Region and Vice-Chairman, Indian Merchants Chamber, Navi Mumbai.

Presently, he serves on a couple of G20 committees to help promote sharing of best practices from the Suptech and Regtech initiatives of G20 countries among themselves and with the developing world.

Panel Discussion II -Growing with Sustainability – Inspiring Practices relevant for Emerging Markets

Sacha Sadan is the Director of ESG at the FCA (Financial Conduct Authority). Facilitating the UK financial regulator to embed ESG across the wide spectrum of regulatory activities and reporting to the CEO. He has been named a City Influencer by Financial News as one of the biggest 25 names who have been instrumental in shaping the UK’s financial services industry. Previously Sacha was Director of Investment Stewardship (10 years) and on the board at LGIM, one of the world’s largest asset managers. Sacha had responsibility for investment stewardship, including environmental, social and governance (ESG). He was recognised in the Financial Times as one of ‘the 30 most influential people in the City of London’. Sacha was previously a UK equity portfolio manager at Gartmore. He was voted the top-rated Pan European fund manager in the Thomson Reuters Extel awards. He started his career at Universities Superannuation Scheme (USS) pension fund. Sacha is a Fellow of ICSA and a founding member of the UK Investor Forum and was a member of their board for 6 years.

Panel Discussion III – Mutual Funds – The Path to USD 1 trillion Industry in India

Sandeep is the Founder & Chief Investment Officer of the quant Group and has a vast experience of over 30 years in the capital markets. His journey in the money management business started in FY 1992-93 with GIC mutual fund (a JV partner with George Soros in India) where he was a trainee. He later joined IDBI Asset Management, where he was a founding member and was part of the core team that initialized the asset management business. He played a key role in devising, conceptualizing and marketing one of India’s most successful mutual fund schemes: IDBI I-NITS 95. Furthermore, Sandeep worked in pivotal positions at several reputed financial services firms including ICICI Securities (a JV partner with J P Morgan in India), Kotak Securities (a JV partner with Goldman Sachs in India) and REFCO (erstwhile global derivatives firm). He has also worked at the Economic Times Research Bureau (a research wing of Bennett, Coleman and Company Limited).

Sandeep’s credentials as a global macro strategist are well established. He has channeled his vast experiences, interests and novel thinking into building the predictive analytics framework and the dynamic VLRT investment framework of the quant group. It is these frameworks coupled with his deep understanding of various asset classes at a global level, including, credit, commodities, equities and now digital currencies that enables Sandeep in definitive identification of market inflexion points and arriving at conclusive micro and macro calls.

Sandeep has a strong belief in quant Group’s role as a knowledge partner in creating awareness about latest developments in investment philosophy and ideas, such as behavioral research.  It is for this reason that he believes investor education is of utmost importance and the group, under his leadership, has undertaken many initiatives in this regard. Based on this belief Sandeep authored a book titled ‘Being Relevant’ which was published in May 2019. This book builds on research covering decades, even centuries of data points, distilled through quant’s VLRT framework and predictive analytics indicators. The book further outlines the potential trajectory for the world in the coming decades that can help money managers and investors prepare for volatile times which will upend the conventional analytical methods and beliefs of the past decades.

Panel Discussion IV –  RegTech, SupTech & Regulatory Compliances – Global Trends and Regulatory Roadmap

Sharad Sharma co-founded iSPIRT Foundation, a non-profit technology think tank that has conceptualized India Stack, Health Stack and other digital public goods. Sharad also co-founded Teltier Technologies, a wireless infrastructure startup now part of CISCO. An active angel investor with over two dozen investments, he was also instrumental in the success of India’s first IP-focused fund, the India Innovation Fund. Sharad is a member of National Startup Advisory Council, SEBI’s Financial and Regulatory Technology Committee and Chairs the taskforce on DPI in ThinkTank20 (T20) engagement group of G20. An alumnus if Delhi College of Engineering, he previously held R&D leadership positions at Yahoo, VERITAS, Symantec, Lucent and AT&T.

Panel Discussion IV –  RegTech, SupTech & Regulatory Compliances – Global Trends and Regulatory Roadmap

Shinjini Kumar is Director and Co-Founder of SALT-mysaltapp, a women-first fintech platform. Prior to this, she was the business head for Citibank’s consumer businesses in India. Shinjini has spent over thirty years in senior leadership positions across organizations including Reserve Bank of India, Bank of America Merryll Lynch, PricewaterhouseCoopers and Paytm Payments Bank. She serves as independent director on the Boards of a few companies and is a Member-at-large on the Executive Council of CGAP. Shinjini has degrees in English Literature and Public Policy from Delhi University and UT-Austin, USA. In between entrepreneurship, public speaking, contributing articles and points of view on business and finance, she also writes short fiction and is the founder of Indian Novels Collective, an initiative to popularize translation of Indian literature.

Panel Discussion III – Mutual Funds – The Path to USD 1 trillion Industry in India

As Franklin Templeton’s Chief Market Strategist and Head of the Franklin Templeton Institute, Stephen Dover leverages the knowledge of the firm’s autonomous investment teams to provide global capital market and long-term investment insights internally and to clients. The Franklin Templeton Institute harnesses the depth and breadth of the firm’s global investment expertise and extensive in-house research capabilities to deliver unique investment insights to clients. Mr. Dover is a member of Franklin Resources’ executive committee, a small group of the company’s top leaders responsible for shaping the firm’s overall strategy.

Prior to his current role, Mr. Dover served as Executive Vice President, Head of Equities for Franklin Templeton, leading the firm’s equity investment teams. He has also served as Chief Investment Officer of the firm’s Emerging Markets Equity group and local asset management teams. Previously, Mr. Dover was a founder and chief investment officer of Bradesco Templeton Asset Management (BTAM), a joint venture between Franklin Templeton and Banco Bradesco in Sao Paulo, Brazil.

Prior to joining Franklin Templeton in 1997, Mr. Dover was a portfolio manager with Vanguard where he co-managed an equity income strategy. He also worked for Towers Perrin Consulting (now Willis Towers Watson) in New York, London and San Francisco.

Over the course of his 40 years in the investment industry, Mr. Dover has lived in China, Europe, Brazil and the United States. Mr. Dover holds a B.A., with honors, from Lewis and Clark College and an M.B.A. in finance from The Wharton School of the University of Pennsylvania. He is a Chartered Financial Analyst (CFA) charter holder. Mr. Dover is on the Board of Trustees of Lewis and Clark College and Law School.

Panel Discussion II -Growing with Sustainability – Inspiring Practices relevant for Emerging MarketsSue Lloyd’s appointment as Vice-Chair of the International Sustainability Standards Board (ISSB), effective 1 March 2022, was announced in January 2022.

She served as a member of the International Accounting Standards Board (IASB) from 2014 and as IASB Vice-Chair from 2016. She also served as Chair of the IFRS Interpretations Committee from 2017.

In addition to her IASB responsibilities, she played a leading role in the establishment of the ISSB from 2020, including as a member of the Technical Readiness Working Group, which was created by the Trustees to give the ISSB a running start.

Prior to becoming an IASB member, Ms Lloyd worked for the IFRS Foundation as a senior technical director, leading the development of new IFRS Accounting Standards, and as director of capital markets with responsibility for the IASB’s reform of accounting for financial instruments. She also worked for the IFRS Foundation from 2002 to 2004 as a technical project manager.

Ms Lloyd has held various positions in investment banking both in the UK and in Australia and has served as a member of the Australian Accounting Standards Board (AASB). She has a Master’s degree in accounting and finance from the University of Auckland in New Zealand.

Keynote AddressPanel Discussion I – REITs and InvITs: Opportunities and Challenges Suresh Goyal is MD & CEO of the Investment Manager to National Highways Authority of India’s Infrastructure Investment Trust (NHAI InvIT) which has been set up to monetize operating highway projects under Government of India’s National Monetization Pipeline.

He was the founding employee of NHAI InvIT, which since inception has successfully raised funds from marquee international and domestic institutional investors and lenders, with an Enterprise Value of about Rs. 12,000 crores. He recently led NHAI InvIT’s maiden public issue of long dated NCD’s, which was the first of its kind in India.

He has an overall experience of 28 years in project finance, investment banking and infrastructure investing. Over the last 15 years, he has made investments in several infrastructure sectors including renewables, telecom towers, and airports. He was the founding member of Macquarie’s infrastructure investment business in India in 2010, which under his leadership became one of the largest infrastructure funds in the country.

Prior to joining NHAI InvIT in October 2020, he was based in Singapore as Head of Macquarie Infrastructure and Real Assets for South East Asia & India region. He has a wide experience of investments, asset management, governance and dispute management while representing Macquarie on the boards of various investee companies.

He is an Electrical Engineer and MBA.