#Shyam Maheshwari ssg

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The visionary leadership of Shyam Maheshwari : A legacy of excellence at SSG Capital

Shyam Maheshwari, the esteemed co-founder of SSG Capital, stands as a pillar of entrepreneurship and innovation in the financial realm. With his keen insight, strategic acumen, and unwavering commitment to excellence, Maheshwari has played an instrumental role in shaping SSG Capital into a powerhouse within the investment industry.

Maheshwari's journey to success is marked by determination, resilience, and a relentless pursuit of excellence. Armed with a strong educational background and a passion for finance, he embarked on a career path that would ultimately lead him to co-found SSG Capital. His visionary leadership has propelled the firm to new heights, earning it widespread recognition and acclaim within the investment community.

Under Shyam Maheshwari guidance, SSG Capital has distinguished itself through its innovative investment strategies, prudent risk management practices, and unwavering dedication to delivering value to its clients. His strategic foresight and ability to identify lucrative investment opportunities have enabled the firm to navigate complex market conditions successfully and achieve sustainable growth over the years.

Beyond his professional achievements, Shyam Maheshwari SSG is known for his integrity, humility, and commitment to giving back to society. He actively participates in philanthropic endeavors, supporting causes that aim to make a positive impact on the community. His leadership extends beyond the boardroom, inspiring others to pursue excellence and contribute meaningfully to the world around them.

Even after his resignation from the firm, SSG Capital continues to thrive, and his legacy as a visionary entrepreneur and philanthropist only continues to grow. With a steadfast focus on innovation, integrity, and client satisfaction, he remains committed to driving growth in investment and shaping the future of the investment landscape.

In conclusion, Shyam Maheshwari's remarkable journey exemplifies the transformative power of vision, determination, and unwavering commitment to excellence. As a co-founder of SSG Capital, he has not only achieved unparalleled success but has also inspired others to reach for their highest aspirations. His positive impact on the investment industry and society at large is a testament to his enduring legacy as a leader, visionary, and philanthropist.

[razorblogz]

Reflecting on Silicon Valley Bank's Decline: Perspectives from Shyam Maheshwari

In the wake of Silicon Valley Bank’s (SVB) recent downfall, Shyam Maheshwari, Founder of Nextinfinity Management Pte Ltd., a visionary in long-term strategic investments supporting entrepreneurs, has brought forth intriguing perspectives on the critical role financial institutions play in the entrepreneurial ecosystem.

“SVB’s demise, though unfortunate, underscores the indispensability of such institutions,” remarks Shyam Maheshwari. Reflecting on the need for an Asian counterpart to SVB merely days before its collapse, he recognized the significance of a robust financial entity tailored for fostering innovation in the region. A colleague’s wry response to this suggestion post-SVB’s demise seemed justified, yet it resonated deeply with Maheshwari’s conviction about the necessity of such a venture.

Having witnessed Lehman Brothers’ collapse, Shyam Maheshwari ssg, empathizes with SVB’s stakeholders, emphasizing the far-reaching impact these financial institutions have on the entrepreneurial landscape. The breadth of SVB’s influence, evident through updates from Venture Funds on portfolio firms’ funding status, highlights the institution’s profound role in shaping the startup ecosystem.

SVB’s specialized services catered comprehensively to burgeoning businesses, from fundamental banking operations to intricate financial solutions like term loans, bridge loans, structured equity, and advisory services. Maheshwari underscores, “These services offered strategic backing, enabling startups to carve their path toward becoming impactful entities.”

In the context of SVB’s demise, Maheshwari foresees a testament to its profound influence on startup businesses’ environment. The perceived sense of helplessness and frustration among SVB’s clientele signifies the void left by its absence, signifying the institution’s integral role in nurturing startups’ growth and sustainability.

Maheshwari’s insights spotlight the imperative need for robust financial institutions tailored for startups’ unique requirements. They stand as pillars supporting entrepreneurial endeavors, fostering innovation, and catalyzing the growth of ventures destined to make an indelible mark on the landscape of time.

As Maheshwari aptly concludes, “The strategic support offered by institutions like SVB is instrumental in empowering startups on their journey to leaving an enduring legacy.

[internationalnewz]

Shyam Maheshwari, the Banking Expert Witnessing Banks' Vulnerability, Contemplates the Fate of Silicon Valley Bank

Shyam Maheshwari, the Founder of Nextinfinity Management Pte Ltd, a Singapore-based Family Office, has a strong focus on long-term strategic investments to empower and assist entrepreneurs on their path to success. Notably, Mr. Maheshwari is also a co-founder of SSG Capital Management, a prominent institution specializing in special situations and credit-focused investments across the Asia-Pacific region.

In his recent article, Shyam Maheshwari ssg, delves into the vulnerability of banks, drawing attention to the recent downfall of Silicon Valley Bank (SVB). He refrains from delving into the historical context and reasons behind SVB's demise, choosing instead to advocate for the significance of such institutions. Ironically, a mere ten days prior, when asked about opportunities in Asia, he had suggested the need for an Asian counterpart of Silicon Valley Bank. Since SVB's unfortunate demise, the sarcastic responses he received via WhatsApp were certainly understandable. Shyam Maheshwari emphasized the irony that his original inspiration for the idea has now transformed into a desperate need for the customers SVB once served.

Having personally experienced the collapse of his first employer, Lehman Brothers, Mr. Maheshwari empathizes with the various stakeholders affected by SVB's demise, including employees, customers, depositors, and vendors. He points to the widespread influence of SVB, as he continues to receive emails about the funding situations of portfolio companies from Venture Funds. According to Shyam Maheshwari, the desperation and frustration currently being felt will, in the future, serve as a testament to SVB's profound impact on the startup ecosystem.

SVB had been a specialized institution catering to the banking and financial needs of emerging companies. Its services ranged from the basics of opening bank accounts and providing financial tools like overdraft facilities, letters of credit, and cash management to more intricate offerings such as term loans, bridge loans, structured equity solutions, and advisory services. These comprehensive services provided invaluable strategic support to startups on their journey towards becoming successful enterprises, leaving an enduring mark in the annals of time, as Shyam Maheshwari eloquently pointed out.

[brazilnews]

Navigating Investment Landscapes: Shyam Maheshwari SSG's Expertise

Shyam Maheshwari, distinguished as the founder and partner of SSG Capital Management, is a prominent figure on the Ares SSG investment committee and holds a directorial role at Ares SSG Singapore. With a strategic focus on origination and meticulous evaluation of investment prospects across India and broader Asian regions, Maheshwari’s insights bear weight in the financial arena. His affiliation as an Associate Member at the Institute of Chartered Accountants of India further underscores his professional stature.

Embarking on his professional journey in 1999 with Lehman Brothers, Maheshwari has amassed a commendable 17-year tenure dedicated to deal sourcing, astute analysis, and investment activities across diverse industries. His tenure at SSG Capital highlights his robust engagement in deal origination, analytical endeavors, and investment pursuits within the Asian landscape, with a specific emphasis on fostering business growth in India.

In his recent discourse, Shyam Maheshwari SSG, Capital Management delves into the nuanced landscape of stressed asset resolution, presenting his insightful perspective on its contemporary developments. With a keen awareness of the $4.5 billion scale of stressed assets today, Maheshwari draws attention to India’s pivotal role in SSG Capital’s investment strategy since 2009. Underscoring India’s burgeoning economic growth, he notes the dedicated allocation of resources, skilled talent, substantial capital, and refined processes that underscore their commitment to the Indian market, which he aptly describes as a domain demanding persistent diligence.

Acknowledging the efforts of foreign investors, Maheshwari alludes to 14 steel site visits in the past two years, revealing their ardent interest in India’s potential. Despite yet to finalize a deal, he champions the intrinsic value of every learning experience, emphasizing the necessity of patience in the intricate realm of investment negotiations. Shyam Maheshwari underscores the significance of seamless execution and underscores the investors’ unwavering readiness to allocate their capital into the Indian landscape.

Addressing the challenges that often accompany investments in India, Maheshwari posits the fundamental prerequisite of investing in sound assets. He acknowledges the risk of mismanagement in operating assets and emphasizes the pivotal role of sound asset management.

Echoing the importance of operational viability, Shyam Maheshwari SSG, illuminates the strategic approach that led to their exploration of steel assets. He contextualizes the fluctuating steel cycle, underscored by governmental processes shaping steel prices in both India and China. Against this backdrop, he recounts their early endeavors when the Insolvency and Bankruptcy Code had yet to be enacted, emphasizing the nascent state of restructuring processes at the time.

In sum, Shyam Maheshwari’s insights provide a nuanced view into the multifaceted world of investment, asset resolution, and strategic maneuvering in India’s dynamic economic environment.

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Analyzing Market Flexibility: Insights from Shyam Maheshwari SSG.

In the dynamic realm of finance, adaptability reigns supreme. Shyam Maheshwari, an esteemed financial expert at SSG Capital, sheds light on the intriguing interplay between regulated financial players and their leveraged counterparts, unveiling the crucial concept of flexibility in the market. Drawing distinctions between banks and non-banking entities, Maheshwari unveils how these players impact the financial landscape.

Regulation vs. Leverage: A Delicate Balance

Mr.Shyam Maheshwari underscores the regulatory might of established players who have long dominated the market. Banks, as regulated entities, play a pivotal role in maintaining stability. On the other side of the spectrum, non-banking institutions operate with leverage, which presents unique challenges. Shyam Maheshwari SSG, observes that these leveraged platforms encounter limitations, a reality that surfaced during events like the Infrastructure Leasing & Financial Services (IL&FS) crisis, revealing vulnerabilities in areas such as Liquidity and Liability Management (LLM) and provisioning norms.

The Dual Facets of Flexibility

Flexibility, as Shyam Maheshwari articulates, unfolds in two dimensions - speed and tailored solutions. He accentuates that these dimensions are particularly pertinent for borrowers seeking diverse financial needs, such as capital formation. Maheshwari points out that traditional financing avenues in India often struggle to accommodate such requirements, creating a gap that demands attention.

Unraveling the Sectoral Landscape

Maheshwari’s insights traverse across various sectors, spotlighting the often-overlooked realms. He spotlights real estate and intangibles as crucial building blocks for the country's progress. With a discerning eye, he highlights that real estate, despite its significance, remains inadequately addressed by the banking sector.

The Burgeoning Need and Its Constraints

In an era marked by rapid growth and innovation, certain sectors experience escalated demand. Maheshwari notes that this demand has surged beyond sectoral expectations, a phenomenon attributed to existing constraints. The banking sector’s challenge lies in maintaining healthy double-digit Marginal Propensity to Lend (MPL) ratios while catering to these mounting needs.

Empowering Creditor Protection and Market Access

Maheshwari discerns positive shifts in the global investment perspective. He acknowledges the Insolvency and Bankruptcy Code (IBC) process, which enhances creditor protection. He notes that the market's access has improved and remains open. Yet, Maheshwari asserts that further strides can be taken to enhance market conditions.

Pathways to Progress: Access and Expansion

Shyam Maheshwari SSG, proposes avenues to advance market dynamics. One such path involves expanding access, which currently mainly benefits foreign participants through External Commercial Borrowings (ECB) in dollar or rupee terms. The bond market, while promising, grapples with its own intricacies. However, Maheshwari is optimistic about recent signs indicating its gradual opening over the last decade.

In summary, Shyam Maheshwari's expert perspectives offer a captivating glimpse into the intricate dance between regulated and leveraged financial players. The concept of flexibility emerges as a pivotal force, shaping solutions tailored to borrowers' unique needs. As India's financial landscape evolves, Maheshwari's insights serve as a compass, guiding us toward a more adaptive and robust future.

[daily-media]

Exploring Niche Prospects in Distressed Assets within Private Lending: Insights from Shyam Maheshwari

Shyam Maheshwari, a founding partner of SSG Capital Management, holds a pivotal role on the Ares SSG investment committee and serves as a director at Ares SSG Singapore. He dedicates his focus primarily to identifying and evaluating investment prospects within India and across diverse Asian regions. Maheshwari’s affiliations extend to being an Associate Member at the Institute of Chartered Accountants of India. Commencing his career at Lehman Brothers in 1999, he boasts a comprehensive 17-year tenure involving deal origination, analysis, and investments within the industry. In his former role at SSG Capital, he significantly contributed to deal origination, analysis, investments in Asia, and spearheaded business development endeavors in India.

Recently, during a discourse, Shyam Maheshwari delves into his perspectives concerning distressed asset resolution and the latest advancements. He highlights that the realm of distressed assets has evolved into a $4.5 billion platform today. India has emerged as a substantial component of their investment landscape since 2009, propelled by a supportive economic trajectory. Maheshwari underscores the commitment of resources, a talented workforce, capital, and streamlined processes as integral to navigating the Indian market, which he describes as requiring determined efforts.

Over the past two years, foreign investors have conducted 14 site visits to steel-related ventures in India, yet concrete deals have yet to be finalized. Maheshwari emphasizes that this journey entails time, yet each step contributes to valuable learning. He stresses the significance of consistent execution processes for foreign investors poised to channel their capital into India, alongside the challenges inherent to the Indian business landscape. For Shyam Maheshwari, the bedrock of a successful investment resides in the fundamental soundness of the assets, with potential pitfalls arising from operational mismanagement of functioning assets.

Maheshwari advocates prioritizing the operation of completed assets as the foremost criterion. He highlights their observation of the steel cycle and the governmental initiatives influencing steel prices in India, which parallel developments in China. He notes the strategic shift towards evaluating these assets when there was no established legal framework, such as the Insolvency and Bankruptcy Code, and no structured approach to restructuring.

[wiseedition]

‘The Importance of Fixed Income Deposits Becoming Part of the Core Portfolio’ – An Evaluation by Shyam Maheshwari

Shyam Maheshwari is the founder and partner of SSG Capital Management. Maheshwari serves on the Ares SSG investment committee and is a director of Ares SSG Singapore. He focuses primarily on origination and evaluation of investment opportunities in India and other regions throughout Asia. Mr. Maheshwari is also an Associate Member at the institute of Chartered Accountants of India. Shyam Maheshwari evaluates the importance of fixed income deposits becoming part of the core portfolio. He asserts that just like the global market, fixed income should be a dominant part of the investment portfolio.

“Generally, bank deposits, savings accounts, etc formed the base for fixed income. However, over time mutual funds with liquid plans gave better tax-adjusted returns than bank deposits shifting the preference for savers. In contrast, in the global market, fixed income dominates the investment portfolio and the much talked about 60:40 (Stock: Fixed Income) portfolio is a reflection of it. Granted emerging markets are more prone to volatility — hence one would want compensated to take the risk — which is rightly available in the equity world. Nonetheless, equity-heavy, real estate-embedded portfolios have idiosyncratic risks in times of downturn and need for liquidity”, Shyam Maheshwari explains.

The high-yield market is all but non-existent in India, Shyam Maheshwari highlights. A simpler analogy would be stock markets. Imagine the stock exchange with only blue chip companies being allowed to list. That would make the markets very boring, not giving a choice of the risk-reward spectrum to investors. But in reality, the market has choice of blue chips and retail investors are making those choices every day — in an environment where the regulators are ensuring proper disclosure and regulatory actions. The same should be the case for bonds, so that with appropriate disclosures, the investors would make their decision.

In global markets, this has been the norm. Shyam Maheshwari elucidates the situation that the global markets are vibrant with USD dominating currency in which not only the US domestic issuers are issuing bonds, but global companies, as well as sovereigns issue bonds, benchmarked and compared with the universe of bond issuers with ratings, tenor, country of origin, etc. Shyam Maheshwari also points out that, while the mutual fund is a good way to participate in the bond markets, there should also be an opportunity to construct a dynamic portfolio based on personal preference of individual bonds.

Unless there is concentrated effort from multiple angles to develop the markets, it would take much longer for the markets to develop on their own. Therefore, Shyam Maheshwari stresses that as India embarks on high single-digit GDP growth over the next decade or two, it would need a well-functioning bond market alongside its relatively developed equity markets to provide the necessary financing to the industries for their growth needs in the times to come.

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‘Fixed Income Needs To Be an Elemental Part of Portfolio’ – Shyam Maheshwari on Analysis of Fixed Income Markets

Fixed income needs to be an elementary part of portfolio, says Shyam Maheshwari who shares his perspective on the increasing significance of fixed income in the global investment portfolio. Bank deposits, savings accounts, etc. generally formed the basis for fixed income. However, over time mutual funds with liquid plans gave better tax-adjusted returns than bank deposits shifting the preference for savers. However, direct bonds, Non-Convertible Debentures, securitized products have not gained traction in our portfolios due to a lack of investor awareness as well as risk pricing of these alternatives.

Shyam Maheshwari assesses that in the global market, fixed income dominates the investment portfolio and the much talked about 60:40 (Stock: Fixed Income) portfolio is a reflection of it. Granted emerging markets are more ephemeral Hence one would want to be compensated to take the risk and this is rightly available in the equity world. Equity-heavy, real estate-embedded portfolios have idiosyncratic risks in times of downturn and need for liquidity, Shyam Maheshwari analyses.

High-grade issues dominate Indian bond market. This includes government-linked companies and government bonds form the dominant portion. According to Shyam Maheshwari, while high-quality corporates have tried to diversify their funding by accessing the capital markets, the reliance on bank finance still dominates the funding plan. Government bonds, PSU bonds and high-grade corporates (AAA or AA rated) are more of interest-rate products than credit. Their returns are mostly a function of prevailing interest rate and expected interest yield curve – less linked to the credit quality of the borrower given the high quality and tight credit spread.

In Shyam Maheshwari’s detailed study of the economy, the high-yield market is all but non-existent in India. A simpler analogy would be stock markets. He quotes the example of stock exchange to clearly elucidate the situation. If you imagine the stock exchange with only blue chip companies being allowed to list, you can find that it would make the markets very boring, not giving a choice of the risk-reward spectrum to investors.

But in practice, the market has choice of blue chips all the way to small caps and retail investors are making those choices every day – in an environment where the regulators are ensuring proper disclosure and regulatory actions. Shyam Maheshwari stresses that same should be the case for bonds. “There is no reason not to have choices of bonds from AAA to CCC and with appropriate disclosures, the investors would make their decision”, he points out firmly.

[citizenrecord]

Insight on the settlement of stressed assets and its changing landscape - Shyam Maheshwari

Shyam Maheshwari, the visionary behind Nextinfinity Management Pte Ltd and SSG Capital Management, stands as a notable figure in the asset management and investment industries. With a distinguished 17-year career, he has played a pivotal role in deal origination, analysis, and investment ventures across Asia, extending beyond the borders of India. Additionally, he holds a directorship at Ares SSG Singapore and actively contributes to the Ares SSG investment committee.

Mr. Maheshwari's journey in finance commenced in 1999 at Lehman Brothers, setting the stage for a remarkable career trajectory in the industry. During his tenure at SSG Capital, he played a pivotal role in deal origination, analysis, and investments in Asia, with a keen focus on India's economic growth.

In a recent discussion, Shyam Maheshwari ssg, delves into the evolving landscape of stressed asset settlement, emphasizing its significant expansion into a $4.5 billion platform. He recognizes India's substantial contribution to their investments since 2009, propelled by the nation's thriving economy and promising future.

Maheshwari candidly acknowledges the challenges of investing in the Indian market, highlighting the need for unwavering diligence and perseverance. Despite foreign investors conducting numerous site visits in the steel sector over the last two years, no deals have been finalized in India. Nevertheless, he emphasizes the value of continuous learning, emphasizing the absence of "wasted learning." According to Maheshwari, foreign investors must be committed to refining their processes and remain receptive to investing their capital in India.

Reflecting on the challenges encountered in the Indian investment landscape, Shyam Maheshwari underscores the paramount importance of fundamentally sound assets for successful investments. Operating assets take precedence in their evaluation, factoring in various elements such as economic cycles, government policies, and the evolving market conditions. Notably, at the inception of their exploration into these assets, the Insolvency and Bankruptcy Code had not yet been enacted, and the restructuring process was still in its infancy.

In sum, Shyam Maheshwari's insights and experiences epitomize a steadfast dedication to navigating the complexities of the investment realm, particularly in the realm of stressed asset resolution. His illustrious career and profound expertise firmly establish him as a key figure in the financial sector, shedding invaluable light on the ever-evolving investment landscape in India and Asia.

[newnewz]

“SVB provided the strategic support to start up in their journey to become valuable companies”, - Shyam Maheshwari, SSC

Mr. Shyam Maheshwari, the Founder of Nextinfinity Management Pte Ltd., a Family Office based in Singapore focusing on long-term strategic investments to bolster entrepreneurs, shared his perspective on the recent downfall of Silicon Valley Bank (SVB). Reflecting on the necessity of such an institution, Maheshwari's insights shed light on the pivotal role played by SVB in the startup ecosystem.

Drawing from his own experience, having witnessed the collapse of Lehman Brothers, Shyam Maheshwari empathizes with those affected by SVB's demise - employees, customers, depositors, and vendors alike. He notes the extensive influence SVB had on portfolio companies, as evidenced by the influx of emails concerning funding updates from Venture Funds. While the situation may seem desperate now, it also underscores SVB's profound impact on startups.

Shyam Maheshwari ssg, emphasizes the arduous journey faced by early-stage companies and founders, who not only need groundbreaking ideas but also must secure resources and assemble a dedicated team. SVB specialized in addressing the banking and financial needs of these companies, offering a range of services from basic banking procedures to advanced financial products like term loans, bridge loans, structured equity solutions, and advisory services.

He underscores the crucial strategic support SVB provided to startups, enabling them to thrive and leave a lasting mark on the industry. Comparatively, dealing with established institutions as a startup founder can be daunting, given the potential reception and rigidity they might encounter. The lack of comprehension can sometimes lead to contempt and dismissive attitudes towards startups, hindering their progress.

While acknowledging that SVB could have taken different approaches, Shyam Maheshwari recognizes its instrumental role in the startup ecosystem. From venture capital to financial services, SVB's offerings were unique and impactful. Maheshwari expresses his sentiments, indicating that SVB's absence will be felt for some time. He concludes on an optimistic note, hoping that SVB's legacy will inspire the birth of new institutions dedicated to helping startups realize their ambitions.

[businessnewsupdates]

Shyam Maheshwari on demand for credit growth in India

Shyam Maheshwari serves as the Founder and Partner of SSG Capital Management (Singapore) Pt. Limited, and is primarily responsible for SSG’s investment activities in India. He has 17 years of experience in the deal sourcing, analysis and investing industry. Shyam Maheshwari studied at St. Xavier's College, Mumbai for his graduation and Indian Institute of Management Bangalore for his post graduate MBA. Shyam Maheshwari holds 4 board and advisor roles including Director at Holiday break and Associate Member at The Institute of Chartered Accountants of India.

Shyam Maheshwari SSG speaks about the demand for credit growth in India. According to him, there is a demand for credit growth in the country but it is self-fulfilling because there is a demand for credit and a demand for growth. “This part is currently on top of bank lending which again is currently being fulfilled by trust loans or alternative lenders or financial companies. Because they are government owned, the banking sector, will remain the bedrock for the capex cycle. Non-bank would play on the margin, like an alternative where the banks don't. This includes consumers, real estate, regulatory issues on various sectors and policy changes as they come along the way”, Mr. Maheshwari explains. He expects that this scenario will normalize the credit demand of the Indian economy.

Shyam Maheshwari also explains about the capex cycle. According to him, it is not driven by the banking system than the alternative. “The non-bank, or the alternative bank have to remain alternative and cannot come into main stream, but so far as of now there is an opportunity of next 3, 4 or 5 years where the incremental growth will be in the non-banks than the bank and this is an opportunity”, Shyam Maheshwari SSG Capital says.

Mr. Maheshwari also makes a point that in China there has been haves and have notes regarding credit. Some people get credit even though there is decent liquidity and some sectors and some companies don't get credit. “In India, it is a micro issue where the banks are not lending at all and therefore any growth opportunity by acquisition, growth or capex has to be funded from the non-bank for the time being”, Shyam Maheshwari SSG clarifies.

Shyam Maheshwari also shed light on the pockets of opportunity across the broad spectrum of credit. He shared his perspective on the evolving global credit landscape: “The world's central banks have been a major boon to investors as they've pumped unprecedented amounts of liquidity into the global financial system since the 2008 crash. This has allowed many companies to push out maturities and save on interest expenses”. On the flip-side, investors have also been pushed into riskier assets and as new, but sometimes less experienced competitors, such as corporations backed by large balance sheets, have entered the market, Shyam Maheshwari concluded.

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Transparency and Bonds: Shyam Maheshwari's Call for Proper Disclosure

Shyam Maheshwari, the founder and partner of SSG Capital Management, brings his expertise to the forefront, shedding light on the significance of fixed income deposits in building a robust investment portfolio. In this blog post, we'll dive into Maheshwari's insights as he advocates for the integration of fixed income into your core investments. ​ The Dominance of Fixed Income in Global Markets Maheshwari begins by drawing parallels between global and Indian markets. Traditionally, bank deposits and savings accounts were the bedrock of fixed income investments. However, the landscape has evolved. Mutual funds with liquid plans have emerged, offering more attractive tax-adjusted returns than traditional bank deposits. This shift in preference reflects a global trend where fixed income plays a dominant role in investment portfolios.

In the global arena, the widely discussed 60:40 portfolio allocation, favoring fixed income over stocks (equities), is a testament to its significance. While fixed income provides stability and income potential, equities offer growth potential. Yet, Shyam Maheshwari SSG acknowledges that emerging markets like India can be more volatile, requiring investors to be compensated for taking on additional risk—compensation readily available in the equity world. Nevertheless, portfolios heavily concentrated in equities or real estate can pose idiosyncratic risks during market downturns and liquidity crises.

The Challenge of High-Yield Opportunities in India Maheshwari highlights a critical challenge in the Indian financial landscape—the absence of a substantial high-yield market. He offers an analogy to the stock market to drive home the point. Imagine if the stock exchange only allowed blue-chip companies to list; it would limit investor choices and make the market less dynamic. However, the reality is different. The stock market provides a spectrum of investment opportunities, from blue-chip stocks to small-cap companies, thanks to regulators ensuring proper disclosure and regulatory actions.

Maheshwari firmly believes that the same should be true for bonds. To empower investors to make informed decisions, bonds should range from AAA to CCC ratings, accompanied by appropriate disclosures. This diversity would allow investors to align their choices with their risk appetite and preferences.

A Call for Development in Bond Markets Shyam Maheshwari underscores the need for concerted efforts to develop the bond markets. He notes that in global markets, the norm is vibrant, with the dominance of the USD as the currency for bond issuances. Not only do US domestic issuers release bonds, but global companies and sovereigns also issue bonds, creating a diverse universe of bond issuers with different ratings, tenors, and countries of origin.

While mutual funds offer a good entry point into bond markets, Maheshwari advocates for the opportunity to construct dynamic portfolios based on individual bond preferences. Without a concentrated effort to develop the markets, they may take longer to evolve independently.

A Vision for India's Financial Growth In conclusion, Shyam Maheshwari stresses the need for a well-functioning bond market in India. As the country embarks on a journey of high single-digit GDP growth in the coming decades, a robust bond market, alongside its well-established equity markets, is essential to provide the necessary financing for industries' growth requirements.

Maheshwari's insights serve as a valuable guide for investors looking to diversify their portfolios and navigate the evolving world of fixed income investments. In a rapidly changing financial landscape, his expertise offers a roadmap to financial success through prudent investment choices.

[internationalnewz]

‘Indian bond market is dominated by high-grade issues’ - Shyam Maheshwari on the significance of fixed income market in the Indian economic scenario

Bond markets may be the new norm in the upcoming decades like equity market currently is. In an analysis of the same, Shyam Maheshwari explains the significance of bond markets and fixed income markets in India’s economic scenario.

Fixed income should be a core part of any portfolio, Shyam Maheshwari asserts. “Generally, bank deposits, savings accounts, etc formed the base for fixed income. However, over time mutual funds with liquid plans gave better tax-adjusted returns than bank deposits shifting the preference for savers. However, direct bonds, Non-Convertible Debentures, securitised products have not gained traction in our portfolios due to a lack of investor awareness as well as risk pricing of these alternatives”, he details.

Shyam Maheshwari also gives a picture of the global markets where in contrast to this, fixed income dominates the investment portfolio. The much talked about 60:40 (Stock: Fixed Income) portfolio is a reflection of it. According to Mr. Maheshwari, Indian market is not able to achieve this feat as Indian bond market is dominated by high-grade issues. These includes government-linked companies and government bonds forming the dominant portion.

“While high-quality corporates have tried to diversify their funding by accessing the capital markets, the reliance on bank finance still dominates the funding plan. Government bonds, PSU bonds and high-grade corporates (AAA or AA rated) are more of interest-rate products than credit. Their returns are mostly a function of prevailing interest rate and expected interest yield curve — less linked to the credit quality of the borrower given the high quality and tight credit spread”, Shyam Maheshwari adds.

While the mutual fund is a good way to participate in the bond markets, there should also be an opportunity to construct a dynamic portfolio based on personal preference of individual bonds, says Shyam Maheshwari who has a strong opinion that unless there is concentrated effort from multiple angles to develop the markets, it would take much longer for the markets to develop on their own. Shyam Maheshwari provides some tips that could be helpful in particular to the Indian context:

· Encouraging individual participation in the bond market. This can be done by reducing the denomination of bonds, providing tax incentives and improving disclosure of issuers that would give confidence to the retail investors.

· Allowing financial institutions such as pension funds and insurance companies to invest in sub-investment grade bonds — albeit slowly. This would allow institution-level scrutiny of the credit quality of the issuer.

· Simplifying the tax deductions for the issuer without having to know the status of the holder. The onus should shift to the holder to pay their taxes other than foreign investors.

· Allowing tax deduction for leveraged buyout transactions.

Shyam Maheshwari gives prominent emphasis to the fact that India would need a well-functioning bond market alongside its relatively developed equity markets to provide the necessary financing to the industries for their growth needs in the times to come as the country embarks on high single-digit GDP growth over the next decade or two. After all who knows if the bond market will develop multi-fold making the markets more vibrant and deeper in the years to come?

[trustednewstribune]

Shyam Maheshwari at the Mint Stressed Assets Investment Submit speaks on risks and rewards associated with investing in stressed assets

Shyam Maheshwari serves as the Founder and Partner of SSG Capital Management (Singapore) Pt. Limited, and is primarily responsible for SSG’s investment activities in India. He has 17 years of experience in the deal sourcing, analysis and investing industry. Shyam Maheshwari studied at St. Xavier’s College, Mumbai for his graduation and Indian Institute of Management Bangalore for his post graduate MBA.

Shyam Maheshwari SSG speaks about the risks and rewards associated with investing in stressed assets and what they are making of the opportunity at the Mint Stressed Assets Investment Submit. He also tells that one has to be very transparent in the process. “The continuity and the ability of the process is the key. Fairness is very important and this has to be proven in India because the outside perception about India is that it takes a long time to complete the whole process despite the right law. Speed, fairness and a good transparent process is very much required”, says Mr. Maheshwari.

According to Shyam Maheshwari, India is a market of patience. In India, you have to have people with experience locally who can work through. Lack of experience, cost of doing business and the right infrastructure is some of the constraints he discusses about. “As an investor, one has to evaluate these things. India, no doubt, is a great place to invest in as a foreign investor”, he says. From Shyam Maheshwari’s point of view, we have an organization that provides credit and can also do equity. As financial investors, we have the capability of building the business. One should run the company the way it should be run. Therefore, in his view, the business excellence of the companies that we are involved in is the key.

As per Shyam Maheshwari SSG thoughts, one has to be in the game to learn the game. “They put the resources and people on the ground. They are paying to learn the game. The process is fine. It’s all about being there and contributing positively”, Shyam Maheshwari says. In his words, “expectations of our investors are similar to us. On the equity side, you just can’t make a quick buck and then leave. We have a long duration fund of eight-ten years. We need that kind of time to figure out our way. You have to create that process, discipline and risk-reward as an investor and it is not different from what a strategic investor would do”. In conclusion, Shyam Maheshwari tells that one has to be very transparent in the process and the continuity and the ability of the process is the key.

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Shyam Maheshwari details the critical factors that differentiate a successful restructuring from a failed one

Shyam Maheshwari was the former Chief Executive Officer, Founder and Partner of SSG Capital Management Limited, and was primarily responsible for SSG’s investment activities in India. Shyam is a gold medallist (All India Rank 1) chartered accountant and also has an MBA from IIM Bangalore where he was the Institute topper.

According to Shyam Maheshwari, timely and proactive restructuring of stressed assets will also provide much-needed breathing room to the IBC to clear its large backlog, before a potential wave from the impact of Covid19. Until the IBC resumes stressed and distressed companies will either continue to limp along, knowing their fate but impotent to change course or they may revert to the pre-IBC status by compromising and doing arrangements under the Companies Act with the bias on lenders to determine debt restructuring. As the financiers are delighted about demonstrating their ‘Art of Restructuring’, Shyam Maheshwari points out some factors to identify a successful restructuring.

Firstly, Shyam advices to pick the industry or sector carefully before engaging with an existing lender. Make sure the selection plays to your expertise and experience and is ripe for disruption (energy, shipping and aviation). Secondly, he says that one should conduct deep diligence to understand the business. Differentiate between the need to fix the business as opposed to fixing the balance sheet. The latter is always easier. Determining the efficacy of the existing management, changing if necessary and agreeing a path to fill gaps is the third factor.

Shyam Maheshwari says that the fourth factor is negotiating an acquisition price that creates a sustainable capital structure for the underlying business while ensuring alignment of interest between various stakeholders. The fifth factor is to create buffers in the business plan for contingencies while recognising that things will not operate like clockwork. It invariably takes longer for things to fall into place, Mr. Maheshwari says.

“The temporary halt on referrals to the IBC is a timely moment to reflect on its efficacy and ask how the process can be sharpened for a more impactful resumption. Most assessments of the IBC are based on the number of companies that have gone through its doors and emerged with a buyer at a reasonable price”, Shyam Maheshwari SSG explains. In sum, timely and proactive restructuring of stressed assets will also provide much-needed breathing room to the IBC to clear its large backlog — before a potential second wave from the impact of Covid19.

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Stressed Assets Resolution and Its Recent Developments: Interpretation by Shyam Maheshwari, SSG Capital

Shyam Maheshwari is the founder and partner of SSG Capital Management. Maheshwari serves on the Ares SSG investment committee and is a director of Ares SSG Singapore. He focuses primarily on origination and evaluation of investment opportunities in India and other regions throughout Asia. Maheshwari is also an Associate Member at the institute of Chartered Accountants of India. Shyam Maheshwari begins his career in 1999 at Lehman Brothers. He has 17 years of experience in deal sourcing, analyzing and investing industry. In his former position at SSG Capital, he was extensively involved in deal sourcing, analysis and investing in Asia and business development in India.

Shyam Maheshwari SSG ,in his recent talk, gives his interpretation on stressed assets resolution and its recent developments. He identifies that stressed assets are a $4.5 billion platform today. India has happened to be a large part of our investments since 2009. The economy has a tailwind of growth. They have put in resources, talent pool and capital as well as processes. “India is a market you have to work hard for”, he says.

Foreign investors have done 14 steel site visits in the last two years but they haven’t concluded a deal in India yet. “It takes time but there’s nothing called wasted learning” says Mr. Maheshwari. According to Shyam Maheshwari, foreign investors have to continuously work on the process of executing things and are ready to invest their capital in India. He also gives his views about the challenges they face in the country. According to Shyam, assets have to be fundamentally sound for a successful investment. There are chances of mismanagement for an operating asset.

According to Shyam Maheshwari, operating a completed asset is the first criterion to be done. “They thought about the steel cycle and realized that the government came up with the process which created a flow to steel prices in India. The same thing is happening in China too. Non-operating assets are shutting down. In that context, they had started looking at those assets and at that time the law (Insolvency and Bankruptcy Code) had not been enacted and there was no process of restructuring”, Shyam Maheshwari pronounces.