In the paucity of a comprehensive piece of legislation governing financial services in India, various services are regulated through a variety of Acts and Rules and by different regulators. (Manhaday Consultants Private Limited) MCPL, a boutique Investment Banking firm, provides a wide range of financial advisory services to the clients. As Promoted by ex-bankers and finance professionals, MCPL has their footprints in services like growth / strategy advisory, fund raising both in debt and equity, merger and acquisitions, joint venture etc.
MCPL have associates in many parts of the world and are also member of many international M&A networks, specifically in Western Europe / Korea / Japan / Singapore and some part of North America. MCPL is also into Indian market entry for foreign clients where the company advises their clients, on how they should look at India. At present, Manhaday Consultants is assisting the Korean company to enter Indian market either through their JV or licensee tie-up.
Recently, the company has signed NDA with a Japanese M&A network, specifically looking at the sell side mandates from India. This network and relationship helps, MCPL looks for international partnership in the form of JV / M&A / Technology tie-ups / Contract manufacturing, etc., for their Indian clients and because of this reason, they claim that for international opportunity MCPL is the right partner.
Journey of MCPL
At the initial phase, MCPL faced the challenge of convincing customers. They started delivering their expertise by using team’s knowledge and experience as most of the management team members came from the banking and financial world and had on an average 20 years of experience.
“Today, the challenges are totally different compared to 10-15 ago, the economy is growing but there is a cash flow problem or lenders have got more stringent or technology up gradation, new banking laws but on the other hand MCPL have many new types of lenders, strategy investor, and Stressed assets fund, etc. let me put it this way that MCPL is in such a business that we have to continuously upgrade ourselves, keep on learning new laws, policies, products, etc., as this is our raw material and if our raw material quality is better our finished products are liked by our clients much better,” asserts Uday.
The Backbone of MCPL
Mr. Uday Hegde is the Director at Manhaday Consultants. He has worked in senior management position in various banks and financial institutions. He has more than 25 years of experience and that includes last 12 years in advisory business. Uday was a star performer during his employment days and has won numerous awards for his performance. He use to come on TV and he is a regular speaker at startup / SME events. He is the director of a group company where they represent foreign companies in India. He is also a board advisor / mentor to couple of startups and SME firms.
Innovative Approaches to Satisfy Clients Needs
MCPL’s strength derives from understanding their client’s financial real status, if required restructuring the finance, the products and the lenders, with some of the clients they have reduced the number of banks from 3-7 for the client to just 1 or 2 and streamline their treasury. Besides understanding the finance finer points their strengths comes from understanding business gaps, business process, business growth opportunity.
Uday share the client’s engagement experiences by saying, “Most of the Indian SME / MSME enterprise is family driven and they have very little professional expertise or advise. One of our clients thought that equity is best alternative for growth engine but when he saw the valuation it was not to his expectations and was also a challenge to raise, but when we understood their business model we thought that the time is not right for equity, but as a company they are good for Technology tie-ups with international players where not only they get the latest technology but also gets existing up gradation of the machinery. This was funded through internal accruals and bank loans.
They are now planning to raise equity two years down the line as they will get the right valuation. In couple of years we have succeeded in delivering well planned decisions to our clients, which has resulted in furnishing our clients with better growth opportunities and focused targeted financial growth.”
The company also recognized that the initiatives from the present government like Make in India, Start-up India and specifically GST is a game changer for the Indian market as there will be an increase in FDI, there will be an increase in foreign companies looking at India for putting up their plant, enter into JV, contract manufacturing, etc,.
The government has also opened huge development budget for Indian railways, all these will help Indian manufacturing and service sector grow tremendously, which in turn will help SME / MSME sector, here MCPL reflects that in their business category, they are at the right place and at the right time.
Thus, MCPL believes that the future is really exciting for them. They know that as India is one of the fastest growing economies and it will pose a lot of opportunities and challenges along with present government initiative for startups, supporting SME or MSME, make In India, etc. Therefore, the company has foreseen that professional services which they offer will be in great demand and with the experience, knowledge and top management relationship they are helping and will help MCPL to grow their business multi-fold, multi-city and multi-country.