Board of Directors

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

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 19 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 Managing Director & CEO of Geometric Ltd., and Chairman of 3DPLM Software Solutions Ltd. He has over 30 years of experience in the industry, with over 21 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 an 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.

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 19 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 20 years of management and leadership experience in IT industry. He has successfully handled technology leadership positions at Citigroup and US Dept. of Defense. Ajit has nearly 15yrs of experience as a successful entrepreneur in IT and financial services. 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 20+ 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 10 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 an MBA finance (Symbiosis University, 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 8 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 Equirus, he has worked with KR Choksey and had also 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 8 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 few Domestic Mutual Funds & Insurance companies. He has done his BMS & MBA from Mumbai University;

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Viraj Mehta

Head of PMS &
Fund Manager

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Viraj Mehta

Head PMS & Fund Manager

Viraj Mehta has over 8 years of experience in the field of investing with an excellent and proven track record. He 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. Prior to joining equirus, Viraj was part of the team managing ~US$ 60mn at ValueQuest Capital LLP. He is a MBA from MDI, Gurgaon & Chemical Engineering from Nirma Institute of Technology, Ahmedabad. Viraj can be reached at viraj.mehta@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 20 years of management and leadership experience in IT industry. He has successfully handled technology leadership positions at Citigroup and US Dept. of Defense. Ajit has nearly 15yrs of experience as a successful entrepreneur in IT and financial services. 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 20+ 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 16+ years of experience in Infra, Pharma, Healthcare, IT sectors. Previously, he was Group CFO with Shri Krishna Developers and was 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

Mr. Abhishek Agarwal

Abhishek Gupta

Director

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Abhishek Gupta

Director

Abhishek Gupta is Director, Healthcare and Pharma at Equirus Capital. He brings over 18 years of experience and profitable insights into Investment Banking and Business Development Portfolio’s across sectors as varied as Healthcare, Manufacturing, Infrastructure, Dairy, Food, Restaurants, Pharma & Chemicals. Abhishek studied Engineering from IIT Roorkee and MBA from IIT Kharagpur. Later he was conferred a diploma in Corporate Law. Before joining Equirus Capital he worked with VEDA Corporate Advisors and in the early days of his Career, earned his spurs with profitable stints in Ernst & Young, ICICI Bank and Larsen & Toubro.

Mr. Saurabh Panday

Saurabh Panday

Director

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Saurabh Panday

Director

Saurabh is Director, Healthcare at Equirus Capital. He has over 12 years of consulting and operating experience. In his last job, he was working as COO of India’s largest chain of orthopaedic hospital, Mewar Hospitals Private Limited. He was also responsible in conceptualising the growth of Mewar from a network of 3 hospital in 2012 to over 20 hospital network and helped raised private equity capital for the growth. Saurabh has spent substantial time with Grant Thornton where he worked for nearly 7 years, delivering Corporate Finance engagements. He worked across several offices of Grant Thornton and also Co-Founded the Healthcare & Life Sciences Advisory practice of Grant Thornton India. After Grant Thornton, Saurabh moved to Dubai to start his consulting outfit which he independently ran for 2 years before joining Bourn Hall LLC, Dubai as Chief Finance Officer. He is a Management graduate from TAPMI (Manipal) and will be based in Delhi. Saurabh can be reached at  saurabh.pandey@equirus.com

Mr. Vikrant Singhi

Vikrant Singhi

Director

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Vikrant Singhi

Director

Vikrant Singhi, is a part of Equirus team with over 12 years of experience in mid-market investment banking and client advisory roles. He has been working with a Big 4 in his previous role. He has significant cross-border experience on both in-bound and out-bound transactions. He has done B Tech from IIT Delhi and MBA from IIM Calcutta. Vikrant can be reached at vikrant.singhi@equirus.com

Sandeep Gogia

Sandeep Gogia

Director

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Sandeep Gogia

Director

Sandeep has over 12 years of technology & management experience across investment banking, manufacturing & education. Prior to Equirus, he was associated with ICICI Corporate Business Group, TCY Learning & Voltas. Sandeep has successfully closed multiple cross border M&A transactions in the IT space. He is a B. Tech in Textile Tech from NIT and MBA in Banking & Finance from Nanyang Business School, Singapore. Sandeep can be reached at sandeep.gogia@equirus.com

Mr. Nirav Shah

Nirav Shah

Vice President

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Nirav Shah

Vice President

Nirav has over 10 years of experience in the Investment Banking, Capital Markets and Banking. Prior to Equirus, he has been associated with Centrum Capital, Karvy & HDFC Bank. He is CFA from ICFAI University and Commerce graduate from N. M. College, Mumbai. Nirav can be reached at nirav.shah@equirus.com

Mr. Nirav Shah

Gaurang Shah

Vice President

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Gaurang Shah

Vice President

Gaurang has over 12 years of experience in the Investment banking and equity research domain. He has been associated with large organisations like Enam Securities, Daiwa Securities and HDFC Bank in the past. He has experience of working on equity transactions in the infrastructure, real estate and capital goods sector. He is a Chartered Accountant and a CFA by qualification. He can be reached at Gaurang.shah@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 has worked with companies like VSICL, PINC and Mata Securities in the past. He is Commerce Graduate from Delhi Univ. 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 19 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

Munish Aggarwal has over 10 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 an MBA finance (Symbiosis University, Pune). Munish can be reached at munish@equirus.com

Mr. Swati Chirania

Swati Chirania

Associate Vice President

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Swati Chirania

Associate Vice President

Over 6 years of experience in capital markets and advisory across India, SE Asia & Middle East. Prior to Equirus, she has worked with JPMorgan, Euram Bank and GP Group of Companies.

Mr. Pavan Naik

Pavan Naik

Associate Vice President

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Pavan Naik

Associate Vice President

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. He was earlier associated with Centrum Capital Ltd, Elara Capital Ltd & BSE Ltd. 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 8 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 Equirus, he has worked with KR Choksey and had also 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

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Vishad Turakhia

Head of Sales

Vishad has over 8 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 few Domestic Mutual Funds & Insurance companies. He has done his BMS & MBA from Mumbai University

Asmit Awasthi

Devam Modi

Director

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Devam Modi

Director

Devam is a leading equity analyst with Equirus, who has carved a niche for himself with his prolific nature and versatility. He has over 9 years of experience across Project Financing, Private Equity & Equity Research verticals in the Infrastructure, Finance and allied sectors. Prior to Equirus, he worked with L&T Infra Finance on Project Financing & Private Equity. He has a detailed understanding of the infrastructure sector and an exposure across various products and promoters in the sector. He is commerce and law graduate with PG diploma from IIM Indore.

Maulik Patel

Maulik Patel

Director

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Maulik Patel

Director

Has 8 years of experience across equity research in the oil & gas and textile sector. Before entering into capital market, he worked > 2 years with Tata Consultancy Services as project leader. Computer engineer and post graduate from NMIMS, he has cleared CFA, USA and FRM examination also.

Dhaval Dama

Dhaval Dama

Associate Director

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Dhaval Dama

Associate Director

Dhaval has over 6 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

Sr. Analyst

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Abhishek Shindadkar

Sr. Analyst

Abhishek comes with more than a decade of Equity Research experience. He was previously associated with ICICI Securities and Evalueserve where he served for long periods and contributed immensely to their research capabilities. At ICICI he covered not just regular templates but emerging mid-caps and comes with an excellent track record of identifying multi-baggers. He also won the Research Bytes Favourite Analyst Award 2015 for Technology sector. At Evalueserve he got the opportunity to cover Indian IT companies working under Senior Analyst James Friedman of Susquehanna Financial Group (SIG) who was rated as Best on the Street Stock Analysts: Software in May 2010.

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 was previously associated with organisations such as Religare Capital Markets, Nirmal Bang Equities, Jaypee Capital Services Ltd. and Batlivala and Karani Securities Pvt. Ltd. Praful is an alumni of N L Dalmiya Institute Of Management Studies & Research.

PMS Team

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

Ashim Ranu

Viraj Mehta

Head PMS & Fund Manager

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Viraj Mehta

Head PMS & Fund Manager

Viraj Mehta has over 8 years of experience in the field of investing with an excellent and proven track record. He 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. Prior to joining equirus, Viraj was part of the team managing ~US$ 60mn at ValueQuest Capital LLP. He is a MBA from MDI, Gurgaon & Chemical Engineering from Nirma Institute of Technology, Ahmedabad. Viraj can be reached at viraj.mehta@equirus.com