Mr. Shantanu Nalavadi is the Managing Director of India Resurgence Asset Management Business Private Limited, an advisory firm co-sponsored by PEL and Bain Capital, which manages a $629 million fund (“IndiaRF”). A Chartered Accountant by profession, Mr. Nalavadi has over 30 years of experience in sell-side investment banking, private equity, high-yield credit, and managing business P&Ls. At IndiaRF, he is instrumental in investing in and reviving underperforming businesses through active hands-on management, guiding them toward top market performance while positively impacting companies, the economy, employees, stakeholders, communities, and the environment.

Prior to joining IndiaRF, Mr. Nalavadi was Co-Head of the Structured Investment Group at PEL, overseeing assets of more than $350 million. He also served as a Partner at New Silk Route Advisors Pvt. Ltd., where he managed a private equity fund with over $850 million in assets. His career spans global multinationals such as ANZ Grindlays Bank, Star TV, and Walt Disney, where he managed P&L and business development. Mr. Nalavadi has a proven record of creating value and monetizing investments across various sectors, including financial services, chemicals, consumer retail, auto components, infrastructure, media, logistics, and industrial manufacturing. He has actively led operational transformations, competitive positioning, and sustainable growth strategies for his portfolio companies. Mr. Nalavadi articled with Arthur Andersen, India, before qualifying as a Chartered Accountant in 1993.

Shitij is a Senior Director leading the investment efforts at IndiaRF since September 2022. Shitij has over two decades of experience in investments both on buy and sell side.

He led M&A for transportation and consumer verticals for a leading Indian conglomerate, Adani Group, where he led multiple large and complex strategic and M&A initiatives across ports, airports, logistics, roads, city gas, foods FMCG and consumer tech sectors.

Shitij headed the Infrastructure and Energy Investment Banking at Citigroup India and covered multiple sectors including Infrastructure, Oil and Gas, chemicals and industrials and led landmark strategic M&A and capital raise for his clients. He also had a brief stint in corporate credit at DCB bank.

Shitij has vast experience across diverse sectors in India through investing lifecycle of origination, structuring, execution, and monetization and also focussed on value creation, strategic initiatives and capital management including serving on several boards.

Shitij has a master’s in business administration in Finance, CFA (India) and is a Chemical Engineer.

Vishal joined IndiaRF in April 2020, and carries with him over two decades of experience in financial services.

Prior to joining IndiaRF, Vishal was an Executive Director at the Kotak Family Office where he headed private investments, along with being a member of the Investment Committee with the Uday Kotak Family Office.

Previously, Vishal had a long stint as a Partner with Motilal Oswal Private Equity Advisors Private Limited (MOPE), where he was responsible for originating, evaluating, structuring and executing investments with a focus on financial services, industrials and consumer sectors. He has also worked with UBS Investment Bank, New York where he executed mergers & acquisitions, and capital market transactions for financial services companies in the areas of insurance, financial technology, specialty finance and bank holding companies. Vishal’s work experience includes companies such as HSBC Securities, USA; Moody’s Investors Services, USA and HDFC Securities.

Vishal holds a Master of Business Administration (MBA) degree in Finance & Accounting from University of Chicago, Illinois, USA, a Post-Graduation Diploma in Business Administration (PGDBA) from Narsee Monjee Institute of Management Studies (NMIMS) and a degree in Mechanical Engineering from Aligarh Muslim University.

Vishal is a director on the Board of Primacy Industries Limited, Setco Auto Systems Private Limited, Thrissur Expressway Limited

Abhishek joined IndiaRF in May 2022.

Prior to joining IndiaRF, Abhishek worked as an Investment Banker with Bank of America Merrill Lynch (BofAML) for 13 years and was based out of Mumbai. Abhishek was responsible for Industrials & Financial Sponsors coverage at BofAML. He was involved in deal origination, structuring and execution across a variety of sectors within Industrials and has been involved in some of the marquee deals in the space. He has also spent considerable time in origination and execution of deals in Financial Services.

Abhishek has also worked at BofAML’s New York office as part of the Industrials Group and led M&A /capital market transactions across several sectors like automotive, chemicals, transportation etc.

Abhishek holds a Master of Business Administration (MBA) degree from the Indian Institute of Management (IIM) Ahmedabad and a Bachelor of Commerce (B.Com) Honours from St. Xavier’s College, Calcutta University. He is also a qualified Chartered Accountant.

Hrishikesh joined IndiaRF in March 2017.

Prior to joining IndiaRF, Hrishikesh was part of the investment team at Bain Capital Private Equity in Mumbai where he evaluated and managed deals across various sectors including financial services, auto, cement and IT/BPO.

Previously, he was an Associate Consultant with Boston Consulting Group in Mumbai, where he was involved in several large, long-term transformation projects for banks, NBFCs, cement and steel clients.

Hrishikesh is a rank-holder Chartered Accountant (2011) and holds a Bachelor of Commerce (B.Com) degree from University of Mumbai.

Pratik joined IndiaRF in May 2024.

Prior to joining IndiaRF, Pratik worked as an investment banking analyst in the corporate debt team of JP Morgan, where he focused on the US region in the Healthcare sector. Previously, he was a summer intern with the investment team of Ares Management in Mumbai

Pratik holds a Master of Business Administration (MBA) degree from Indian Institute of Management (IIM), Ahmedabad and a Bachelors in Economic Honours from Shri Ram College of Commerce (SRCC), Delhi.

Simran joined IndiaRF in May 2024.

Prior to joining IndiaRF, she was a part of TresVista Financial Services, where she worked with US and Europe based middle-market PE funds providing services through the deal lifecycle.

She was a Summer Intern with IndiaRF before joining full-time.

Simran holds a Master of Business Administration (MBA) degree from Indian Institute of Management Kozhikode (IIMK), and a B.A. (Hons.) in Economics from Miranda House, Delhi University.

Gaurav joined IndiaRF team in February 2022.

Gaurav has over nineteen years of work experience across Corporates, Consulting & Financial Services focussing on Coverage and new business development and is passionate about developing and managing relations. He has worked across Product and geographies in his previous roles covering Corporates and Institutions specializing in deal origination, client relationship management, corporate debt and structured finance and brings onboard strong relations with promoters and CXOs across Emerging & Large corporate and Investment Banking community as a Corporate banker.

Prior to joining IndiaRF, he was associated with Edelweiss Financial Services Limited where he was responsible for coverage and new business development across the geographies and sectors for Special Situation Advisory team focused on providing advisory for Restructuring, Stressed M&A & Funding. Gaurav has diversified experience of working with varied financial institutions and Corporates like IL&FS Financial Services, L&T Infra Finance KPMG, Mitusi & Co. India Pvt Limited and Vedanta across roles and profiles across Financial services, Infrastructure and commodities profiles in his previous roles.

He has completed his PGDM from Nirma Institute of Management, Ahmedabad in 2003 and BE in Industrial Electronics in 2001. He is passionate about reading , quizzing and singing in his free time.

Saloni joined IndiaRF in November 2022.

Prior to joining IndiaRF, she was a part of the Investment Banking division of J.P. Morgan in Mumbai. Prior to J.P. Morgan, she worked with KPMG in their Deal Advisory - Mergers & Acquisitions (Tax & Regulatory) team where she was involved in deals across various sectors.

Saloni is a Chartered Accountant, has completed 2 levels of CFA program and holds a Bachelor of Commerce (B.Com) degree from H.R. College of Mumbai University.

Shlok joined IndiaRF in November 2022.

Prior to joining IndiaRF, he worked as an Associate (CRG) at JP Morgan Investment banking in Mumbai. He focused on the APAC region in the diversified industrials sector. Prior to that, he worked in KPMG Corporate Finance covering pharma and health deals.

Shlok is a Charted Accountant (May 2019 - AIR 16), has cleared CFA level 3, and holds a Bachelor of Commerce degree from Mumbai University.

Omkar joined IndiaRF in July 2022.

Prior to joining IndiaRF, he was part of the Mergers & Acquisitions Consulting practice of Deloitte USI, where he worked across M&A Strategy, Operational & Synergy Diligence projects for PE and Strategic clients. Prior to Deloitte, Omkar worked as an Investment Banking Analyst at J.P.Morgan.

Omkar holds a Master of Business Administration (MBA) degree from Jamnalal Bajaj Institute of Management Studies (JBIMS) Mumbai and a Bachelor of Technology (B.Tech) from Visvesvaraya National Institute of Technology (VNIT) Nagpur.

Ravi joined IndiaRF in December 2018.

Prior to joining IndiaRF, he was a part of the distressed asset financing and trading team at Deutsche Bank, Mumbai, where he evaluated opportunities across sectors such as steel, hotels, hospitals, thermal power and real estate.

Previously, Ravi was part of the corporate finance team at ANZ. He has also worked with a start-up in electronics chip design and verification, where he was involved with a motion sensing chip’s digital portion.

Ravi holds a Master of Business Administration (MBA) degree from Indian Institution of Technology (IIT) Delhi and Bachelor of Engineering (B.E) degree from Dharmsinh Desai University.

Aakash joined IndiaRF in April 2017.

Prior to joining IndiaRF, he was part of the investment team at Kotak Investment Advisors in Mumbai, where he evaluated and managed deals in real estate.

Previously, he worked as a Research Analyst in the institutional equities division at Ambit Capital, covering sectors such as oil and gas, and agri-inputs.

Aakash is a Chartered Accountant (2014) by profession, and holds a Bachelor of Commerce (B.Com) degree from University of Mumbai.

Mitesh joined IndiaRF in December 2021 and carries with him over fourteen years of experience in Mergers & Acquisitions and Corporate Strategy.

Prior to joining IndiaRF, Mitesh spent 9 years in UltraTech Cement Limited (Aditya Birla Group). He was Head of Mergers and Acquisitions at UltraTech Cement Limited. During his tenure at UltraTech, he led several large sized acquisitions like Jaiprakash Associates cement assets (~USD 2.5 Bn), Binani Cement Limited under Insolvency Bankruptcy Code (~USD 1.1 Bn) and Century Textiles Cement division (~USD1.3 Bn). He also led multiple off-shore divestments of UltraTech’s cement assets and other non-core assets in countries like Bangladesh, China, Belgium, Norway and Luxembourg. He was instrumental in forging several business joint-ventures. Mitesh also worked extensively on international corporate strategy of UltraTech and evaluated multiple acquisition opportunities in countries like Brazil, Philippines, Indonesia, Sri-Lanka, Oman, UAE, etc.

Prior to UltraTech, Mitesh’s work experience includes working in companies like Reliance Infrastructure Limited (Cement business), iCAN Investment Advisors and Deloitte.

Mitesh is a Chartered Accountant and CFA (Level 2) by qualification and did his Bachelor of Commerce from Narsee Monjee College of Commerce & Economics.

Mitesh joined IndiaRF in December 2021 and carries with him over fourteen years of experience in Mergers & Acquisitions and Corporate Strategy.

Prior to joining IndiaRF, Mitesh spent 9 years in UltraTech Cement Limited (Aditya Birla Group). He was Head of Mergers and Acquisitions at UltraTech Cement Limited. During his tenure at UltraTech, he led several large sized acquisitions like Jaiprakash Associates cement assets (~USD 2.5 Bn), Binani Cement Limited under Insolvency Bankruptcy Code (~USD 1.1 Bn) and Century Textiles Cement division (~USD1.3 Bn). He also led multiple off-shore divestments of UltraTech’s cement assets and other non-core assets in countries like Bangladesh, China, Belgium, Norway and Luxembourg. He was instrumental in forging several business joint-ventures. Mitesh also worked extensively on international corporate strategy of UltraTech and evaluated multiple acquisition opportunities in countries like Brazil, Philippines, Indonesia, Sri-Lanka, Oman, UAE, etc.

Prior to UltraTech, Mitesh’s work experience includes working in companies like Reliance Infrastructure Limited (Cement business), iCAN Investment Advisors and Deloitte.

Mitesh is a Chartered Accountant and CFA (Level 2) by qualification and did his Bachelor of Commerce from Narsee Monjee College of Commerce & Economics.

Chirag Joined IndiaRF in June 2022.

Prior to joining IndiaRF, he was part of the M&A team at Welspun Group (US$ 3Bn Group), where he evaluated and managed various acquisitions for various businesses across Textile, Steel, Infrastructure, Warehousing and Real estate.

Previously, he worked as a manager Investment Banking at J. R Laddha Financial services working on deals across sectors like Consumer, Healthcare and Industrials.

He also has ~2 years of work ex with Kotak Mahindra Bank Limited as a Credit Analyst. Chirag is a Chartered Accountant by profession (2014), and holds a Gen. LLB (Law) and Bachelors of Commerce (B.com) from University of Mumbai.

Shakti joined IndiaRF in August 2022.

Prior to joining IndiaRF, he was part of the Project Advisory & Structured Finance practice at SBI Capital Markets Limited in New Delhi where he evaluated project finance & debt syndication opportunities across chemical, cement, glass, electric vehicle and NBFC. Prior to SBICAPS, Shakti worked as a Senior Consultant at Ernst & Young in Tax & Regulatory Practice.

Shakti is a Chartered Accountant (Nov 2016) by profession and holds a Bachelor of Commerce (Honours) degree from Shri Ram College of Commerce, University of Delhi.

Mrinal joined IndiaRF in July 2018 and has over two decades of experience in deal analysis, structuring, execution, restructurings, asset management, fundraising and compliance.

Prior to joining IndiaRF, Mrinal was a Managing Director and part of the founding team at a high-yield credit platform with investments in excess of US$ 1 Billion in asset-backed high-yield credit.

Previously, Mrinal has worked at firms such as Clearwater Capital, Amarchand Mangaldas and DSK Legal (formerly Andersen Legal) where his areas of work included mergers and acquisitions, private equity, credit, financial services and disputes. Mrinal has also served on the Board of several portfolio companies.

Mrinal holds a B.A. L.L.B (Hons.) from the National Law School, L.L.M. in Banking and Financial Laws from Boston University School of Law and is an alum of Harvard Business School. Mrinal is also a recipient of a scholarship from the Tata Endowments.

Shobhit Bafna joined IndiaRF in September 2022.

Prior to joining IndiaRF, Shobhit gained experience at PwC (PricewaterhouseCoopers) in the assurance practice across financial services, venture capital / private equity, investment banking, asset management company.

Shobhit is a Chartered accountant and has completed Level 1 of the CFA program. He also holds a Bachelor of Commerce (B.Com) degree from University of Mumbai.

Shobhit is a voracious reader with a keen interest in finance, technology, macroeconomics, and geopolitics.

Jayesh has been part of the IndiaRF team since its inception in 2016. With over 14 years of professional experience, he has actively supported IndiaRF in its capital raising initiatives, and leads its Finance and Tax functions along with assisting on structuring various investments and due diligence.

Prior to joining IndiaRF, Jayesh worked on several group level mergers and acquisitions/reorganization transactions at Piramal Enterprises Limited and has been instrumental in setting up IndiaRF.

Previously, Jayesh worked with Ernst & Young where focussed on corporate reorganisations, private structuring investments for private equity funds and due diligence.

Jayesh is a Chartered Financial Analyst (CFA) Charterholder from the CFA Institute, and also a Chartered Accountant by profession.

Abhishek joined IndiaRF in June’24, he brings with him 18 years of extensive experience in the field of Retail Sales, Operations, Marketing, Brand communication, P&L management & Business Development.

He also has experience in developing & executing key account management & customer strategy.

Having worked in various organisations like Enrich (Westbridge Capital), IFB Industries Ltd, VIP Industries Ltd, Croma (Infiniti Retail Ltd) & Videocon Industries Ltd, he has played key roles in Sales planning, executing go to market strategies, market penetration, driving consumer experience & satisfaction.

He has also played important role in defining product positioning, customer retention, ROI & productivity.

Abhishek holds Master of Business Administration (MBA)from Welingkar Institute of Management, Mumbai & BE Mechanical from Nagpur University.

Ashwani joined IndiaRF in June 2020 and brings with him over three decades of experience in business operations and transformations, management of complex projects, and supply chain with leading groups such as Tata Steel, ITC, BK Birla and Varroc. He plays a key role in the execution of operational turnaround plans working alongside the promoters/management team in IndiaRF’s investee companies. Ashwani is also involved in the deal-team while underwriting investments.

Prior to joining IndiaRF, Ashwani was the Chief Executive Officer - India Business, and Whole Time Director at Varroc. Previously, he has worked across various sectors including steel, tobacco, information technology, tyres, paper and auto components starting from shop floor and has overseen production, engineering, projects, single plant to overall operations.

Post his Sloan Masters in Leadership and Strategy from London Business School in 2009, he transitioned to general management as COO/CEO of businesses across the groups he has been associated with thereafter.

Ashwani holds an engineering degree from Indian Institute of Technology (IIT) – Roorkee, and has completed Executive Development Programs from the Wharton School, USA and the Stanford Graduate School of Business, USA.

Ashwani is a director on Setco Auto Systems Private Limited

Vikram joined IndiaRF in February 2021 and carries with him professional experience across consulting and manufacturing.

Prior to joining IndiaRF, he was a consultant with McKinsey & Company in Mumbai where he was involved in several large, long-term transformation engagements with healthcare clients across India.

Previously, he worked with various automotive & manufacturing companies across various roles in production, new product development, quality and project management.

Vikram holds an engineering degree from Shivaji University and completed his post-graduate diploma in Operations Management from Symbiosis International University.

Pranalee joined IndiaRF in October 2023. She has a decade of professional experience in social development sector and as an ESG advisor to public and private organizations on responsible investment.

Prior to joining IndiaRF she worked as a consultant with ERM and AECOM, where she spearheaded and supported ESG risk assessments and management assignments across 40+ industrial sectors and handheld businesses in improving ESG performance through strategizing, planning, and monitoring the implementation.

She worked briefly at Bihar Rural Livelihoods Promotion Society – a state level initiative of the World Bank aided National Rural Livelihoods Mission (NRLM). She was responsible for implementing the rural livelihoods program through microfinance.

Pranalee holds a Masters degree from Tata Institute of Social Sciences, Mumbai.

Premit joined IndiaRF in November 2020 and has over a decade of experience in deal analysis, structuring, negotiation, execution, restructurings and asset management.

Prior to joining IndiaRF, Premit was AVP-Legal at Piramal Capital where he was instrumental in establishment of a new business vertical, handled sector agnostic investments, designed recovery strategy and also handled insolvency and recovery matters.

Previously, Premit has worked at firms such as ICICI Bank, L&T Infra Finance and SJ Law: Advocates & Solicitors (the then leading Project Finance law firm) where his areas of work majorly included project finance, structured finance, corporate finance, banking and litigation.

Premit holds a Bachelor of Law (L.L.B) degree from ILS Law College, Pune.

Yash joined IndiaRF in August 2021.

Prior to joining IndiaRF, he was part of the Investment Banking team at HSBC in Bangalore, where he worked closely on 23 Indian Equity Capital Market transactions aggregating c.US$25bn across sectors and equity products.

Yash holds a Master of Business Administration (MBA) degree from the Indian Institute of Management (IIM) Indore and a Bachelor of Commerce (B.Com) Honours from Hans Raj College, Delhi University.

Abhishek joined IndiaRF in February 2023 with over 9 years of work experience.

Prior to joining IndiaRF, Abhishek was part of the investment team at Neev Funds -SBICAP Ventures in Mumbai, for more than 5 years, where he evaluated and managed deals across various sectors in the infrastructure, agriculture, education, and healthcare space.

Previously, he was working with the EY Investment Banking & Infrastructure services team in Mumbai, for over 2 years, where he was involved in transactions in the logistics, renewable energy, waste management and hospitality space.

Abhishek holds a Master of Business Administration (MBA) degree from the Indian Institute of Management (IIM) Calcutta and a Bachelor of Business Administration (BBA) Honours from St. Xavier's College, Calcutta.

Mridul joined IndiaRF in April 2023

Prior to joining IndiaRF, Mridul was part of the Business team at Edelweiss Asset Reconstruction in Mumbai. There, he was end-to-end responsible for stressed assets, from investments to asset management, across sectors including Consumer space, Real Estate, and Steel.

Previously, he was a Summer Associate with McKinsey & Co in Mumbai, where he worked in their Management Consulting team.

Mridul holds a Master of Business Administration (MBA) degree from the Indian Institute of Management Ahmedabad (IIMA). Mridul is also a rank-holder Chartered Accountant (2018), has cleared all three levels of CFA, and holds a Bachelor of Commerce (B.Com) degree from University of Mumbai.

Ketki joined IndiaRF in April 2023.

Prior to joining IndiaRF, she was part of OPS, a Dubai-based oil & gas shipping start-up, where she was responsible for the end-to-end financial strategy and operational planning of a rapidly scaling company.

Previously, she was a Summer Intern with J.P. Morgan with their front-end Investment Banking team in Mumbai.

Ketki holds a Master of Business Administration (MBA) degree from Indian Institute of Management Bangalore (IIMB), and is a fully-qualified Chartered Accountant.

Anubha joined IndiaRF in February 2023 and has over 15 years of experience in transaction structuring and execution, corporate and commercial law advisory across sectors.

Prior to joining IndiaRF, Anubha was a Partner at IndusLaw in their transactional and corporate commercial practice. Previously Anubha has worked at L&L Partners (erstwhile Luthra & Luthra) and Trilegal, where her area of work involved advising on general corporate and commercial matters; drafting and negotiating legal documentation; and structuring/advising on M&A, private equity, and joint venture investment transactions. She has advised clients across sectors including ecommerce, technology, publishing, education, infrastructure and real estate domains on varied matters.

Anubha holds a LLB from the Faculty of Law, Delhi University, is an associate member of the Institute of Company Secretaries of India and holds a Bachelor of Commerce (Hons.) from Hansraj College, Delhi University.

Purti joined IndiaRF in August 2023, she brings with her nearly 15 years of extensive experience in the field of strategy, M&A, Investments, encompassing both the buy and sell side. Prior to IndiaRF, she was part of Reliance Industries, in their M&A team with a particular emphasis on Oil & Gas and consumer segments. She also played a role in defining the strategy / roadmap for the new age technology investments in Jio.

Following her time at RIL, Purti was part of a family office, where she managed investments within the financial services sector. More recently, she played a key role in a Series A funded startup in the e-commerce space, backed by Fireside. As a vital leadership member, Purti was responsible for both the seed and series A fund raise, amounting to $50 million.

Purti holds a Masters in Finance degree from London Business School with Bachelors in Business & Finance from Thammasat University, Bangkok & University of North Carolina, Chapel Hill.

Akshay joined IndiaRF in August 2023.

Akshay comes with total experience of 16 years, and prior to joining IndiaRF, was a part of the special projects team in the corporate strategy team at Piramal Enterprises Limited, with focus on transactions and deal structuring. Prior to joining Piramal, Akshay spent over 14 years at PwC and KPMG, where he worked on transactions / deals for large conglomerates, private equity funds etc. Akshay comes with experience in handling strategic assignments ranging from advising private equity funds on investment structuring and planning exits, to evaluating complex reorganisations from tax, accounting, companies act, exchange control and stamp duty perspective, to diligences, to capital market transactions; right from conceptualization until the implementation stage..

Akshay is a Chartered Accountant and also holds B.Com degree from Narsee Monjee College of Commerce and Economics, Mumbai University..

Hitesh joined IndiaRF in November 2023 and has over 7.5 years of experience in accounting, auditing and financial reporting related matters.

Prior to joining IndiaRF, he has spent more than 5 years with PwC in their Assurance business, with a core domain focus of financial services

Previously, Hitesh has worked with companies such as ADNH Compass, KNAV & Co.

Hitesh is a Chartered Accountant by education.

Prior to joining IndiaRF, Umang was associated with Edelweiss Alternatives where he was part of Business Support Group looking after Regulatory and Compliance Affairs of various domestic and offshore funds along with Corporate Secretarial Affairs. His other Corporate and Professional stints include Kotak Alternate Asset Managers Limited, an Alternate Asset Business arm of Kotak Mahindra Bank Limited where he had similar responsibilities.

His alma mater include a Law and Commerce Graduation from Mumbai University and Associate Membership from Institute of Company Secretaries of India, New Delhi (“ICSI”) and a Post Graduation in Business Laws from one the premier institutes of India i.e. National Law School India University, Bangalore (“NLSIU”).

Umang brings decade plus experience handling various Corporate and Regulatory Compliances.

Sudarshan joined IndiaRF in August'23.

Prior to joining IndiaRF, he was an audit senior at S.R. Batliboi & Associates (EY India), where he worked extensively on Audit and Limited review engagements.

Prior to EY, he was an assistant manager at Deloitte working on assurance and risk advisory engagements.

Sudarshan is a qualified Chartered Accountant.