Board of Directors

Our Board consists of Industry experts who have constantly provided strategic direction to the company.

Ajay Garg

Ajay Garg

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Ajay Garg

Managing Director

Ajay Garg is the founder of Equirus Capital. Ajay is a veteran investment banker, with over 22 years of experience in Investment Banking. He is acknowledged as being amongst the top deal makers in the country. He started his career with DSP Merrill Lynch where he was involved with several landmark deals during his stint there between 1996–2002. Prior to setting up Equirus in 2007, he was the group CEO of a leading investment bank which he co founded. Ajay holds a first degree in engineering and is a post graduate in management from IIM, Ahmedabad. Ajay can be reached at ajay@equirus.com

Mr. Manu Parpia

Manu Parpia

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Manu Parpia

Manu Parpia is the founder and former Managing Director & CEO of Geometric Ltd. He has over 35 years of experience in the industry, with over 25 years in the PLM and Engineering arena. He is one of the pioneers in this arena in India. He served as the Chief Executive of the Electronic Business Equipment Division of Godrej & Boyce from the mid eighties to 1999. He served as the Managing Director of Geometric from 1994 to 2006, and took over this mantle again in April 2011.

Mr. Parpia started his career as an engineer with Humphreys & Glasgow Consultants Pvt. Ltd. (H&G). Inspired and mentored by Naval Godrej and Vasant Seth, he later founded K. Wadia Exports Pvt. Ltd., a company manufacturing cast gold jewellery for export, and First Financial Compuserve Pvt. Ltd. which promoted the use of computers in the area of finance.

Mr. Parpia holds a Bachelor’s degree in Chemical Engineering from McGill University, Canada; an MBA from Harvard Graduate School of Business Administration, USA; and a Diploma in Finance & Accounting from England.

Mr. Rajiv Agarwal

Rajiv Agarwal

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Rajiv Agarwal

Rajiv Agarwal is currently associated with the private equity set-up of Rare Enterprises ("Rare") as a Principal. Rare enterprises is and asset management firm owned by Mr. Rakesh Jhunjhunwala.

He started his career with Accenture in 1993 and spent 12 years consulting with over 70+ organizations in India, Europe, South East Asia and Middle East. During this period he has worked in diverse industries such as Airlines, Biotechnology, Chemicals, Engineering and Construction, Iron and Steel, Pharmaceuticals and Oil & Gas. Rajiv joined Rare Enterprises in 2005 to assist Mr. Rakesh Jhunjhunwala with his investments in sectors such sectors such as education and healthcare, digital media, oil & gas, healthcare and biotechnology. Rajiv is a B. Tech-Chemical Engineering from Banaras Hindu University. Rajiv currently holds Directorship with Aptech Ltd., Care Hospitals, Hungama Digital Media Entertainment Pvt. Ltd., John Energy and Concord Biotech.

Mr. Sivaraman N

Sivaraman N

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Sivaraman N

Former President and Whole Time Director - L&T Finance Holdings

Mr. Sivaraman is a seasoned business leader with a 34- year track record with the L&T Group, most recently (till April 2016) as President and Whole Time Director with L&T Finance Holdings (LTFH) which was the holding company for L&T’s Financial Services business. Sivaraman’s range of accomplishments centre on leading a small company or platforms through transformational growth into admirable organisations and providing exceptional leadership to produce differentiated outcomes.

He joined LTFH in 2006 when the balance sheet was below Rs.3000 crore with PAT below Rs. 30 crore. Balance sheet grew to Rs. 57000 cr and PAT of Rs. 857 crore by March 2018 by widening and deepening the offerings. He led its inorganic expansion into housing, two wheelers and asset management businesses – all of which have grown in size and profits on his watch. Key transactions include the Fidelity acquisition and building it into a Rs 25,000 crore AMC with 40% of assets in equity. L&T Finance started out with [600 employees], it currently has around 12,000 employees. He spearheaded its listing in 2011.

Whilst at L&T in the period immediately before joining LTFH, Sivaraman handled M&A and IR (2000-2006) led the demerger of cement business and subsequent acquisition by Grasim, including the buyout of Grasim’s stake in L&T by an innovatively funded Employee Welfare Trust. As Treasurer between 1995-2000, he executed the acquisition of Narmada Cement, structured L&T’s first BOOT financing and eventual profitable exit and structuring and raising debt from capita markets for a BOLT project. Earlier he held assorted roles heading accounts in several L&T businesses and sales regions.

Ashim Ranu

Ganesh Sankaran

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Ganesh Sankaran

Executive Director – Federal Bank

Mr. Ganesh Sankaran is Executive Director at Federal Bank. He is an alumnus of VJTI Mumbai and also has a Master's degree in Business Administration from Symbiosis Institute of Business Management. He also attended a summer school program at IIM Ahmedabad.

He brings banking experience of over two decades across Relationship and Risk functions. He has top quality exposure in building corporate relationships and providing strategic direction for managing credit risk across diverse verticals. He was a senior leader in wholesale banking at HDFC Bank and was responsible for managing the balance sheet and profitability for the corporate bank as well as influencing and driving strategic initiatives. He has firsthand experience to risk dimensions in several key domains such as SME, commercial transportation, agriculture lending, microfinance and sustainable livelihood, large ticket retail lending and risk intelligence & control.

At Federal Bank, he is in charge of creating a robust business architecture that straddles across the Wholesale Bank, Micro & Rural bank and Business Banking as well as bring senior leadership and strategic insight into building a high quality retail bank. Further, he is responsible for the International Offices of the Bank. As part of the senior management team, he drives the organization vide maximization and optimization initiatives for enhancement of stakeholder's value.

Management Team

The Management team at Equirus has brought with it superior domain knowledge, market understanding and strong client and investor/lender relationships.

Ajay Garg

Ajay Garg

Managing Director

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Ajay Garg

Managing Director

Ajay Garg is the founder of Equirus Capital. Ajay is a veteran investment banker, with over 22 years of experience in Investment Banking. He is acknowledged as being amongst the top deal makers in the country. He started his career with DSP Merrill Lynch where he was involved with several landmark deals during his stint there between 1996–2002. Prior to setting up Equirus in 2007, he was the group CEO of a leading investment bank which he co founded. Ajay holds a first degree in engineering and is a post graduate in management from IIM, Ahmedabad. Ajay can be reached at ajay@equirus.com

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Ajit Deshmukh

Managing Director

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Ajit Deshmukh

Managing Director

Ajit Deshmukh is the Head of Investment Banking at Equirus. He has over 25 years of management and leadership experience in IT industry & Investment Banking industry. He has successfully handled Technology leadership positions at Citigroup and US Dept. of Defence. Ajit has nearly 15 years of experience as a successful entrepreneur in IT and Financial services. He is a Post Graduate from NCST and BE in Electronics from Mumbai University. Ajit can be reached at ajit.deshmukh@equirus.com

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Donald D’souza

Managing Director

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Donald D’souza

Managing Director

Donald D'Souza is the Managing Director - New Initiatives at Equirus. He comes with more than 23 years of experience in Investment banking. Prior to Equirus he was associated with HDFC Bank as Head of Equity Capital Markets in its Investment Banking division. He had held key positions at IIFL, Kotak, CLSA and JM Financial. He has worked with some of India's leading corporates and private equity groups and has expertise in most equity products in Investment Banking. Donald is an alumnus of IIM Ahmedabad (1995) batch. He can be reached at donald.dsouza@equirus.com

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Munish Aggarwal

Director- Capital Markets

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Munish Aggarwal

Director- Capital Markets

Munish Aggarwal has over 12 years of work experience in Capital markets across India and South East Asia. Prior to Equirus, he was working with JPMorgan India across the India and South East Asian region. He is a MBA finance from Symbiosis, Pune. Munish can be reached at munish@equirus.com

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Ashutosh Tiwari

Head of Research – Institutional Equities

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Ashutosh Tiwari

Head of Research – Institutional Equities

Ashutosh has over 10 years of experience in Equity research and 3 years in manufacturing. He was ranked No. 1 for Earning estimates in Auto Sector at Thomson Star Mine Analyst awards 2015. Prior to Investment banking, he has worked with Hindustan Zinc as Mining Engineer. He has done his B-Tech in Mining from IIT BHU and MBA from NMIMS. Ashutosh can be reached at ashutosh@equirus.com

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Vishad Turakhia

Head of Sales – Institutional Equities

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Vishad Turakhia

Head of Sales – Institutional Equities

Vishad has over 10 years of experience in Institutional Sales and Research. He was Instrumental in setting up the Institutional Sales Desk at his previous organization. Currently servicing FIIs based in Asia Pacific region along with Domestic Mutual Funds & Insurance companies. He has done his BMS & MBA from Mumbai University. Vishad can be reached at vishad.turakhia@equirus.com.

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Viraj Mehta

Managing Director

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Viraj Mehta

Managing Director

Viraj Mehta has over 9 years of experience in the field of investing with an excellent and proven track record. The Equirus Long Horizon fund (ELHF) is one of the best performing funds since its launch in October 2016. Viraj was selected by Wall Street Journal (WSJ) as part of “Asia’s Master Stock Picker” series for India. He had been part of the award winning fund management team at Franklin Templeton Investments managing an AUM of ~US$ 6bn. Viraj had also been the lead analyst for managing the small companies fund at Franklin Templeton Investments. He is a MBA from MDI, Gurgaon & Chemical Engineer from Nirma Institute of Technology, Ahmedabad. Viraj can be reached at viraj.mehta@equirus.com

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Ankur Maheshwari

Chief Executive Officer

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Ankur Maheshwari

Chief Executive Officer

Ankur has around 15 years of total experience, large part of which has been in the Wealth Management arena. Ankur carries with him rich experience in Investments Research, Advisory & Product verticals. He has also spent significant time in leading large sales team and building & scaling HNI & Mass Affluent Wealth Business. Prior to Equirus, Ankur was associated with Citibank for over a decade as Senior VP and National Head – Investments Sales. Ankur is an alumnus of IIM Calcutta. He completed B. Tech from Institute of Engineering & Technology, Lucknow. Ankur can be reached at ankur.maheshwari@equirus.com

Investment Banking Team

The Investment banking team has an excellent track record in closing complex transactions across sectors.

Ajay Garg

Ajit Deshmukh

Managing Director

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Ajit Deshmukh

Managing Director

Ajit Deshmukh is the Head of Investment Banking at Equirus. He has over 25 years of management and leadership experience in IT industry & Investment Banking industry. He has successfully handled Technology leadership positions at Citigroup and US Dept. of Defence. Ajit has nearly 15 years of experience as a successful entrepreneur in IT and Financial services. He is a Post Graduate from NCST and BE in Electronics from Mumbai University. Ajit can be reached at ajit.deshmukh@equirus.com

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Donald D’souza

Managing Director

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Donald D’souza

Managing Director

Donald D'Souza is the Managing Director - New Initiatives at Equirus. He comes with more than 23 years of experience in Investment banking. Prior to Equirus he was associated with HDFC Bank as Head of Equity Capital Markets in its Investment Banking division. He had held key positions at IIFL, Kotak, CLSA and JM Financial. He has worked with some of India's leading corporates and private equity groups and has expertise in most equity products in Investment Banking. Donald is an alumnus of IIM Ahmedabad (1995) batch. He can be reached at donald.dsouza@equirus.com

Mr. Manu Parpia

Vijay Agrawal

Executive Director

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Vijay Agrawal

Executive Director

Vijay has over 16 years of experience in Infra, Pharma, Healthcare and IT sector. Previously, he was worked with KPMG in M&A. Vijay is B.Com, FCA and completed Sr. Management Programme from IIM Calcutta. Vijay can be reached at vijay.agrawal@equirus.com

Sandeep Gogia

Sandeep Gogia

Director

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Sandeep Gogia

Director

Sandeep has over 15 years of Technology & Management experience across Investment banking, Manufacturing & Education. Prior to Equirus, he was associated with ICICI Corporate Business Group. Sandeep has successfully closed multiple cross border M&A transactions in the IT space. He is a B.Tech in Textile Technology from NIT and a MBA in Banking & Finance from Nanyang Business School, Singapore. Sandeep can be reached at sandeep.gogia@equirus.com

Mr. Nirav Shah

Nirav Shah

Associate Director

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Nirav Shah

Associate Director

Nirav has over 13 years of experience in Investment Banking, Capital Markets and Banking. He has experience of working on equity transactions in the Financial Services space across segments like Banks, NBFCs and HFCs. He is a CFA from ICFAI University and Commerce Graduate from N. M. College, Mumbai. Nirav can be reached at nirav.shah@equirus.com

Mr. Nirav Shah

Rahul Nihalani

Vice President

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Rahul Nihalani

Vice President

Rahul has over 10 years of diverse experience in Business and Intangible Valuation, Financial & Deal Advisory, Technology Consulting and Equity Research. Prior to Equirus, he was associated with Merisis Advisors in its TMT practice, American Appraisal India in their Business and Intangible Valuation practice, Deloitte Financial Advisory Services based out of Philadelphia, USA where he successfully performed valuations for various purposes like M&A advisory, regulatory, litigation, purchase accounting and wealth planning for various USA business conglomerates. In 2010, He co-founded SYOR Group, the only equity research company focused on tracking, analyzing and predicting movements for companies going through bankruptcy event. The research was sold as Subscription service to Hedge Funds and Mutual Funds and gathered lot of traction. Rahul is MBA from the University of Pittsburgh, Katz Graduate School of Business and B.Tech in IT from Nirma Institute of Technology, Ahmedabad. Rahul can be reached at rahul.nihalani@equirus.com

Structured Finance Team

The structured Finance Team has strong track record in successful execution of transactions

Ashim Ranu

Ashim Ranu

Director

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Ashim Ranu

Director

Ashim has over 17 years of experience in structuring and raising Debt funds for various corporates in India. He is Commerce Graduate from Delhi University and PGDBM from IILM,Delhi. Ashim can be reached at ashim.ranu@equirus.com

Capital Market

The team has seasoned professionals with expertise in handling Capital Market transactions across sectors.

Ajay Garg

Ajay Garg

Managing Director

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Ajay Garg

Managing Director

Ajay Garg is the founder of Equirus Capital. Ajay is a veteran investment banker, with over 22 years of experience in Investment Banking. He is acknowledged as being amongst the top deal makers in the country. He started his career with DSP Merrill Lynch where he was involved with several landmark deals during his stint there between 1996–2002. Prior to setting up Equirus in 2007, he was the group CEO of a leading investment bank which he co founded. Ajay holds a first degree in engineering and is a post graduate in management from IIM, Ahmedabad. Ajay can be reached at ajay@equirus.com

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Munish Aggarwal

Director- Capital Markets

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Munish Aggarwal

Director- Capital Markets

Munish Aggarwal has over 12 years of work experience in Capital markets across India and South East Asia. Prior to Equirus, he was working with JPMorgan India across the India and South East Asian region. He is a MBA finance from Symbiosis, Pune. Munish can be reached at munish@equirus.com

Mr. Pavan Naik

Pavan Naik

Associate Vice President - ECM

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Pavan Naik

Associate Vice President - ECM

Pavan Naik is a seasoned professional with over 10 years of experience in Equity Capital Markets and expertise in managing end-to-end execution of Capital Market deals. Pavan is an alumnus of MIT School of Business (2007 batch) and has attained his Bachelors in Commerce & Finance at Mumbai University.

Institutional Equities Team

The Institutional equities team has strong expertise in Research and client servicing.

Ashutosh Tiwari

Ashutosh Tiwari

Head of Research – Institutional Equities

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Ashutosh Tiwari

Head of Research – Institutional Equities

Ashutosh has over 10 years of experience in Equity research and 3 years in manufacturing. He was ranked No. 1 for Earning estimates in Auto Sector at Thomson Star Mine Analyst awards 2015. Prior to Investment banking, he has worked with Hindustan Zinc as Mining Engineer. He has done his B-Tech in Mining from IIT BHU and MBA from NMIMS. Ashutosh can be reached at ashutosh@equirus.com

Asmit Awasthi

Vishad Turakhia

Head of Sales – Institutional Equities

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Vishad Turakhia

Head of Sales – Institutional Equities

Vishad has over 10 years of experience in Institutional Sales and Research. He was Instrumental in setting up the Institutional Sales Desk at his previous organization. Currently servicing FIIs based in Asia Pacific region along with Domestic Mutual Funds & Insurance companies. He has done his BMS & MBA from Mumbai University. Vishad can be reached at vishad.turakhia@equirus.com.

Maulik Patel

Maulik Patel

Director

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Maulik Patel

Director

Maulik has over 10 years of experience across Equity Research in the Oil & Gas and Textile sector. Before entering into Capital Market, he worked for 2 years with Tata Consultancy Services as project leader. He is a Computer Engineer, Post graduate from NMIMS, and has also cleared CFA, USA and FRM examinations.

Dhaval Dama

Dhaval Dama

Director

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Dhaval Dama

Director

Dhaval has over 8 years of experience as an Equity Analyst and has covered wide range of sectors like FMCG, Consumer Durables, Real Estate, Logistics etc. He differentiates his research by giving more focus to primary research. Prior to Equirus he has worked with a Buy side Proprietary fund and also has worked in Corporate Banking. He has completed his MBA in Finance from SIMSR and is a Chemical Engineering graduate.

Ashish Shah

Ashish Shah

VP - Dealing

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Ashish Shah

VP - Dealing

Ashish has over 20 years of experience in Dealing. Prior to Equirus he was working with Kotak Securities ltd Ahmedabad. He is a B.com. from Mumbai University

Abhishek Shindadkar

Abhishek Shindadkar

Vice President - Research

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Abhishek Shindadkar

Vice President - Research

Abhishek has over 12+ years of equity research experience, tracking Technology and Staffing companies. He was previously associated with organizations such as ICICI Securities and Evalueserve and comes with an excellent track record of identifying multi-baggers. He holds an MBA and a Bachelor of Engineering degree from Mumbai University and was the Winner of ‘Research Bytes’ Favourite Analyst Award for Technology Sector (2015).

Praful Bohra

Praful Bohra

Research Analyst

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Praful Bohra

Research Analyst

Praful has over 8 years of equity research experience, tracking the Healthcare sector. He is well regarded to his Pharma research. Praful is an alumnus of N L Dalmia Institute of Management Studies & Research.

PMS Team

The PMS team is lead by experienced Fund Manager with proven track record.

Ashim Ranu

Viraj Mehta

Managing Director

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Viraj Mehta

Managing Director

Viraj Mehta has over 9 years of experience in the field of investing with an excellent and proven track record. The Equirus Long Horizon fund (ELHF) is one of the best performing funds since its launch in October 2016. Viraj was selected by Wall Street Journal (WSJ) as part of “Asia’s Master Stock Picker” series for India. He had been part of the award winning fund management team at Franklin Templeton Investments managing an AUM of ~US$ 6bn. Viraj had also been the lead analyst for managing the small companies fund at Franklin Templeton Investments. He is a MBA from MDI, Gurgaon & Chemical Engineer from Nirma Institute of Technology, Ahmedabad. Viraj can be reached at viraj.mehta@equirus.com

Wealth Management

Equirus Wealth Management aims to be a trusted advisor and money manager for its clients' personal and business needs on a platform of transparency, product innovation and performance.

Ashim Ranu

Ankur Maheshwari

Chief Executive Officer

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Ankur Maheshwari

Chief Executive Officer

Ankur has around 15 years of total experience, large part of which has been in the Wealth Management arena. Ankur carries with him rich experience in Investments Research, Advisory & Product verticals. He has also spent significant time in leading large sales team and building & scaling HNI & Mass Affluent Wealth Business. Prior to Equirus, Ankur was associated with Citibank for over a decade as Senior VP and National Head – Investments Sales. Ankur is an alumnus of IIM Calcutta. He completed B. Tech from Institute of Engineering & Technology, Lucknow. Ankur can be reached at ankur.maheshwari@equirus.com