Programme

Day 1 | Day 2

  • Tuesday, 3 December 2019

  • 08:00

    Registration and refreshments

  • 08:50

    Opening remarks

  • 09:00

    Opening keynote address

    Ravi Lambah, Head of India, Global Head of Telecom, Media & Technology, TEMASEK

  • 09:30

    Big picture: India and the world

    Elections, trade wars, global political unrest, and economic uncertainty – 2019 has brought macro challenges aplenty. It remains to be seen what impact this has on an investment environment already burdened by record levels of dry powder and valuation volatility. In this session a group of leading fund GPs to share their views on the current state of the market and what the future might hold.

    • Have strategies changed in response to the macro climate?
    • Which sectors will deliver the best deal flow over the next five years?
    • What is the outlook for exits?
    • What question do you most fear getting from LPs?

    Moderated by: Sourav Pramanik, First Vice President, M&A and Sponsor Finance Asia, SUMITOMO MITSUI BANKING CORPORATION
    Udai Dhawan, Founding Partner and Head of India Private Equity, AFFIRMA CAPITAL
    Motoya Kitamura, Managing Director, HQ CAPITAL
    Sanjay Kukreja, Partner and CIO, CHRYSCAPITAL
    Bobby Pauly, Partner, TATA OPPORTUNITIES FUND

  • 10:30

    Networking coffee break

  • 11:00

    Buyouts: Controlling your destiny?

    India buyouts are a slow-burn story, but managers say they are seeing more control opportunities. Rising interest from well-funded global and regional players has helped loosen previously unavailable assets. Meanwhile, on the supply side, divestments and restructuring situations feature strongly. Graduating from minority to majority positions represents a difficult transition that asks different questions of investors. Our panellists will offer some answers:

    • Do larger fund sizes mean more control deals? 
    • How big is the succession planning opportunity in India?
    • How can buyout investors take advantage of the insolvency reforms?
    • What skillsets do minority investors need when refocusing on control?

    Moderated by: Pramod Kumar, Managing Director & Head of Banking, India, BARCLAYS
    Neeraj Bharadwaj, Managing Director, THE CARLYLE GROUP
    Gopal Jain, Managing Partner and Co-Founder, GAJA CAPITAL
    Sanjay Kukreja, Partner and CIO, CHRYSCAPITAL
    Nitish Poddar, Partner & National Leader - Private Equity, KPMG
    Mithun V. Thanks, Partner, SHARDUL AMARCHAND MANGALDAS & CO

  • 11:45

    Keynote address

    Vikas Choudhury, President, RELIANCE JIO

  • 12:30

    Value creation: 20 years of evolution

    As India continue to mature as an investment destination, competition for deals is intensifying. If managers face the prospect of paying up for prize assets, they need to enter processes with conviction based on clear-cut value creation plans. Moreover, execution has to be precise in terms of timing, intensity or complexity, if the underwritten returns are to be achieved. In this session, entrepreneurs and managers offer insights:

    • What does value creation mean in Indian context?
    • How much has the GP-Entrepreneur dynamic changed over the years?
    • How are GPs addressing technology-related improvements?
    • How to address the growth Vs profitability conundrum?

    Moderated by: Amith Karan, Managing Director, ALVAREZ & MARSAL
    Vikas Choudhury, President, RELIANCE JIO
    Anand S. Krishnan, Managing Partner, FIDELISWORLD
    Vishal Sharma, Managing Director, EVERSTONE CAPITAL
    Ananya Tripathi, Director, KKR CAPSTONE

  • 13:15

    Networking lunch

  • 14:15

    The liquidity question: Exits in India

    In the absence of another bumper trade sale like Flipkart, it is highly unlikely that India will come close to matching the record exit total – in US dollar terms – set last year. This high point came despite a drop in the absolute number of liquidity events, largely due to public market volatility. Our panelists share their thoughts on creating a sustainable pipeline of exits.

    • Do the numbers fail to capture nuances of the India exit story?
    • Will private equity-backed IPOs always follow a cyclical pattern?
    • How is the market for sales to other financial sponsors developing?
    • Is the fund restructuring opportunity living up to expectations?

    Moderated by: Manas Tamotia, Partner, L.E.K.
    Amit Gupta, Partner, NEWQUEST CAPITAL PARTNERS
    Aviral Jain, Managing Director, SIGULER GUFF
    Yogesh Mahansaria, Co-Founder, ALLIANCE TIRE GROUP; Director, MAHANSARIA INDUSTRIAL VENTURES

  • 15:00

    India PE: An industry 20 years in the making

    The AVCJ India Forum has chronicled private equity’s highs and lows over the past two decades, from financial crises to technology awakenings to landmark economic reforms. The industry’s growing pains underscore how much further it can go – how much potential has yet to be realized – but also that victories are often hard won. A panel of industry veterans revisits the past and looks to the future.

    Moderated by: Tim Burroughs, Managing Editor, ASIAN VENTURE CAPITAL JOURNAL
    Rajiv B. Lall, Chairman, IDFC FIRST BANK
    Shankar Narayanan, Founder, SANAKA CAPITAL
    Renuka Ramnath, Founder & CEO, MULTIPLES ALTERNATE ASSET MANAGEMENT

  • 15:45

    Networking coffee break

  • 16:15

    Venture capital: Coming of age?

    India’s VC ecosystem is attracting a wider variety of investors, with larger international players and corporates working alongside early-stage incumbents. This has created more exit opportunities as start-ups evolve. The general sense of positivity is underpinned by a belief that India’s internet industry has yet to catch up with China, implying a wealth of untapped potential. A panel of senior VCs share their outlook.

    • Are comparisons with the US and China fair?
    • How creative are GPs being in terms of fund structure and strategy?
    • Why aren’t there more Indian internet IPOs?
    • What will the ecosystem look like in five years?

    Moderated by: Manish Kheterpal, Managing Partner, WATERBRIDGE VENTURES
    Abhay Pandey, General Partner, A91 PARTNERS
    Anirudh Singh, Principal, B CAPITAL GROUP

  • 17:00

    Close of day 1 and networking cocktail