Jan - May 2011 - S.P. Jain Institute of Management and Research

SplashCreating RipplesFinance ConclaveSAC Finance Conclave 2011 was attended bymanagement students, corporate delegates andfaculty. This year's theme was “India on the OutboundInvestment Bus: Frameworks for Financing andStructuring International M&As”.The keynote speaker Mr. Hemant Mishr - Head ofGlobal Markets, South Asia & Co-Head of WholesaleBanking, Standard Chartered talked about theemerging macroeconomic perspectives and theirimpact on M&A. He discussed the strategic driversleading Asian companies to go in for global M&A andthe risk management required in any M&A deal.Following the keynote address was an interactivepanel discussion on the same theme. The eminentpanellists included Mr. V S Parthasarthy - Group CIO &Executive VP – Finance and M&A & Member, GroupExecutive Board - Mahindra & Mahindra; Mr. RichardRekhy - Head of Advisory, KPMG India; Mr. N. K.Mishra - VP and Group Head M&As, Tata Steel; Mr.Girish Kulai - Sr. VP of Strategy & CorporateDevelopment, Reliance Globalcomm; Mr. DineshTiwari - MD, Multiples Alternate Asset Managementand Prof. Parimal Merchant, Director - FMB, SPJIMR.January 14, 2011The discussion was moderated by Mr. George Koshy -Special Correspondent, Bloomberg-UTV.The panel discussion brought forward many diverseviews on M&A. Interesting insights about their ownexperiences were shared by the panelists. While Mr.Rekhy spoke about the various issues from theconsultant's perspective, Mr. Kulai and Mr.Parthasarthy spoke from the industry perspective andemphasised on synergies and integration issues. Thefocus though was on the all important cash flows andtheir sustenance being the crux of any M&A deal.Mr. Dinesh Tiwari raised a question of whether theIndian entrepreneurs were becoming overconfident inacquiring foreign companies bigger than themselvesor were these decisions a good strategy. Prof. ParimalMerchant spoke about the huge opportunity for M&Asin the SME sector which was not receiving the attentionit deserves and also cited the example of Bharat ForgeLtd as a case study of an SME turning into an MNC viaM&As.5 SPJIMRnews