In the bustling financial landscape of Mumbai, India, there stands a distinguished boutique investment banking firm that has left an indelible mark on the industry since its inception in 2007. Introducing Manhaday Consultants Private Limited, a powerhouse managed by seasoned finance and banking professionals, boasting an impressive collective experience of nearly 50 years.
At the core of its success lies an extensive array of Advisory Services, spanning in Investment Banking, Private Placement of Equity, Mergers and Acquisitions, Joint Ventures, Project and Structured Loan Syndication, Debt and Business Restructuring, CFO Services, and Strategic Growth Advisory, among others.
Going beyond domestic borders, Manhaday Consultants extends its expertise to international clients, offering advisory services in M&A, Private Equity, Joint Ventures, India Entry Strategies, Contract Manufacturing, Outsourcing, and more. Supporting these endeavors, the firm’s group company diligently handles all necessary company support services.
The true strength of Manhaday Consultants lies in the decades of experience amassed by its corporate finance team. Their profound understanding of business models and financial gaps enables them to execute transactions with seamless precision and unparalleled speed, earning the unwavering trust of their esteemed clientele.
Guided by its steadfast commitment to client satisfaction, the firm fosters enduring relationships with major banks, lending institutions, Private Equity firms, Corporate Strategy Investors, (Family office) and HNIs across the country. Such rapport has catapulted Manhaday Consultants into becoming an esteemed member of several prestigious international M&A networks.
The firm is known as one of India’s top mid-size investment banking and finance consulting firms and has garnered acclaim from various magazines, solidifying its position as a trusted player in the market.
The Visionary
Meet Mr. Uday Hegde, the visionary behind the establishment of Manhaday Consultants Private Limited. With a remarkable track record spanning over 15 years in Investment banking and Finance Consulting, coupled with an impressive 18-year tenure in senior management within the banking and financial realm, Uday brings unparalleled expertise to the table. Holding an MBA, he exemplifies a deep-rooted professionalism that has earned him recognition as a regular speaker at prestigious financial events, and he has previously graced television screens with his insights. His profound comprehension of financial products, business models, and growth opportunities places him among the elite in the industry.
Leading Role in M&A and Beyond
As a former banker, the founder of Manhaday Consultants Private Limited and its team members have built a formidable reputation in effectively executing debt transactions all over India. However, as time has progressed, they have gained widespread recognition for their expertise in handling M&A mandates, particularly for Indian companies seeking international
partners for Joint Ventures for their Indian growth story. Their services extend to facilitating Indian companies in their quest for financial joint venture partners, technical tie-ups, contract manufacturing arrangements, and other related initiatives. Additionally, the firm is adept at managing local buy-side proposals.
Not limited to debt transactions, Manhaday also excels in equity transactions, with players being corporate, strategic investors, family offices, high-net-worth individuals (HNIs), and international investors as potential equity players. This diverse expertise enables the company to cater to a wide range of financial needs for its clients and positions it as a highly sought-after firm in the industry.
Achieving Excellence
Aside from their professional backgrounds, extensive working experience, and comprehensive knowledge of finance, market, and industry, the team at Manhaday Consultants engages in rigorous research and market analysis. Before engaging a client, they prioritize establishing a robust network of lenders, investors, and M&A partners both locally and internationally. Their confidence in this aspect is well-founded, as they possess a strong network spanning across India and various countries, Specifically from Korea, Japan, Singapore, Western Europe, Russia, Israel, and select regions in the Gulf.
Manhaday actively participates in multiple local business chambers events, leveraging these memberships to foster valuable connections within the industry. Uday Hegde, the founder, contributes his expertise to various committees within some of these chambers, further enhancing the firm’s reach and influence.
Remaining ahead of the curve in their line of business requires a keen awareness of government policies, emerging business models, structured finance products, and dynamic market trends. The team at Manhaday comprehends the significance of continuous learning and self-improvement, embodying a mindset of ongoing development to stay at the forefront of the industry.
Journey in the Evolving M&A Landscape
Manhaday Consultants finds its motivation in the vast opportunities presented by the market, firmly believing in their ability to execute proposals that can bring transformative changes to their clients’ growth stories. These changes range from increasing top-line revenues to exploring new revenue streams, ultimately leading to improved bottom-line percentages.
Mr. Hegde highlights that the present government’s initiatives, such as improving the ease of doing business, implementing predictable and consistent policies, GST implementation, reduced tax brackets, Make in India, and Aatmanirbhar Bharat (Self-reliant India) campaigns, as well as the introduction of Production Linked Incentive (PLI) schemes, have been favorable for foreign direct investment (FDI) and have attracted the interest of foreign companies eyeing opportunities in India. These initiatives have a positive impact on businesses like Manhaday’s.
However, M&A transactions are not without their challenges. They are complex and time-consuming, often taking anywhere from 4 to 12 months to complete. Thus, patience becomes a key virtue in this domain.
The nature of M&A transactions exposes them to factors similar to those influencing the stock market. Manhaday’s success relies on market sentiments, government policies, geopolitical tensions, competition, and the financial strength of involved parties. For instance, the uncertainty surrounding the pandemic significantly impacted their clients’ transactions. One of their clients was on the verge of issuing a Term Sheet, but due to the looming uncertainty, the process was put on hold, resulting in the efforts of nine months going to waste, and the valuation plummeted by nearly 50% after the initial phase of the pandemic.
Exploring Lucrative Opportunities
The team at Manhaday Consultants is currently engaged in several M&A proposals, including an acquisition opportunity in the Indonesia Chemical sector, an FMCG opportunity in Singapore, and an Indian acquisition in the engineering and pharma sectors. However, they are particularly excited about discussing two specific opportunities, one from Israel and the other from India.
The first opportunity involves an Israel-based defense technology company seeking investors for its parent company while offering exclusive manufacturing rights worldwide (for the Indian investor). This is a highly promising opportunity, and the team at Manhaday has been diligently working on it for the past three months. Several Indian companies they have approached have already expressed interest in the venture. They are optimistic about concluding this transaction by the end of December. It’s noteworthy that a few years back, investing in defense and in Israel might have been met with hesitancy from Indian companies. However, the current market scenario has significantly shifted, with immense potential in defense exports. India’s defense exports have been growing steadily, reaching around Rs. 16,000 crores, and are expected to exceed Rs. 25,000 crores within the next 3-4 years. The local Indian manufacturing defense market is also experiencing rapid growth.
The second opportunity involves an Indian company seeking to acquire an engineering company with a B2B business model, with a specific budget and EBITA percentage criteria. Initially, the team at Manhaday was enthusiastic on signing the mandate and started reaching out to potential candidates. However, they soon realized that finding a suitable match within the given budget and EBITA parameters was challenging. They had candid discussions with their client, explaining the market scenario, and suggested changes in the acquisition strategy, emphasizing the importance of considering long-term opportunities and the potential value-add post-acquisition the promoter can bring in. The client understood the advice, and after four months of signing the mandate, they began working again with the new strategy. Now, in the sixth month, a non-disclosure agreement (NDA) has been signed, indicating progress in the deal-making process.
Unlocking Potential in India’s MSME Sector
The MSME sector in India holds significant importance, with nearly 63 million enterprises contributing substantially to the country’s economy. These enterprises account for 30% of India’s GDP, 45% of the manufacturing output, and 40% of total exports, while providing employment to over 113 million people. The question at hand is whether the MSME sector is ready for the future.
Mr. Hegde acknowledges that the MSME sector faces typical challenges like manpower productivity, navigating government policies, managing cash flows, and raising finances. However, looking ahead, he identifies several key challenges that will shape the future of the sector. Adapting to technology is paramount, along with meeting global standards and
embracing advanced manufacturing capabilities. Diversifying financial products, both domestically and internationally, will be crucial for the sector’s growth. Perhaps most importantly, there is a need for a mindset shift among MSMEs. They should start thinking like large corporate groups, being open to equity investments, listing on stock exchanges, exploring joint ventures with international companies, and transforming into professional-driven organizations.
Mr. Hegde believes that this is an opportune time for Indian MSMEs to expand significantly. With geopolitical tensions and shifts in the world order, many companies are reconsidering their reliance on China and exploring alternative strategies. Manhaday Consultants is positioned perfectly to assist Indian MSMEs in embracing these growth opportunities and navigating the path to success. By providing guidance, expertise, and support, Manhaday aims to help MSMEs realize their full potential and contribute even more substantially to India’s economic growth story.
Note for Aspiring Investment Bankers
Mr. Hegde’s advice to aspiring investment bankers looking to enter this highly specialized sector is to focus on building a strong professional background. Understanding finance is crucial, as well as acquiring in-depth knowledge of various industries, markets, technology, and government policies. Being inquisitive, curious, and having an appetite for learning are essential traits for success in this field.
India presents immense opportunities for investment bankers due to its status as the fastest-growing large economy. The liberalized business environment, opening of the finance sector, and the introduction of initiatives like FDI and PLI further amplify the potential. As global companies show increasing interest in India, the scope for international M&A transactions, predominantly on the buy side and backed by private equity, is likely to grow significantly.
To thrive in this dynamic environment, aspiring investment bankers should continuously expand their skill set, stay updated with market trends, and develop a deep understanding of the evolving business landscape. Being proactive and adaptable will enable them to seize the promising opportunities that the Indian market has to offer.
Spearheading Partnerships and Growth Opportunities in India
Manhaday Consultants is brimming with optimism about the future, as the changing global landscape, driven by factors like the pandemic, geopolitical tensions, and the new world order, has made India an increasingly appealing destination for their specialized services.
The firm’s relentless dedication and credibility have paid off, resulting in the establishment of strong local and international networks. These efforts are now bearing fruit, as their contacts and associates are approaching them to collaborate on various proposals. International firms are seeking partnerships with Manhaday for assistance in executing buy/sell proposals in India. Being part of several international M&A networks and having extensive connections with global investment banking firms and investors/lenders actively interested in India has bolstered their reputation.
These valuable relationships serve as a key asset when approaching Indian companies for mandates to facilitate their growth stories. Manhaday’s network and expertise allow them to bring unique opportunities to the table and provide the necessary support for Indian companies to explore potential joint ventures, acquisitions, and other growth avenues.
Their group company SkyEarth Tradecom Private Ltd. in a way complements Manhaday, SkyEarth is into market creation for products & services, here SkyEarth takes foreign company rights for their products & services for India and from India SkyEarth takes Indian companies products internationally, right now their focus is Brazil, Russia and Latin America, here they have already signed couple of Indian companies for International market creation.
