Tag: Kalpesh Kikani

Business

Piramal Alternatives Invests INR 600 Crores in Annapurna Finance

May 13, 2024 by Sujata Muguda 0 Comments #Annapurna Finance, #Gobinda Chandra Pattanaik, #Kalpesh Kikani, #Piramal Alternatives

Mumbai, May 13, 2024: Piramal Alternatives, the fund management division of the Piramal Group, today announced an investment of INR 600 crores (USD 75 Million) in Annapurna Finance Private Limited, (“Annapurna” or the “Company”), a leading non-banking finance company focussed in microfinance. The deal involved a combination of secondary purchase of shares and providing Tier – 2 capital. The structured capital solution will help fuel the risk calibrated growth of Company’s assets under management.

Annapurna is one of India’s leading microfinance institution headquartered in Odisha with assets under management in excess of USD 1.25 Billion as on March 31, 2024. A pan India player with presence in 20 states, the company has also diversified into MSME financing. With its extensive network of 1,372 branches as on March 31, 2024, the company is poised for significant growth and is anticipated to sustain its leadership position.

Kalpesh Kikani, CEO, Piramal Alternatives said “Microfinance as a retail asset class has grown at CAGR of 32% over the last decade and expected to continue the high growth trajectory. Further, it serves as a catalyst for economic development and stands as a cornerstone for a nation’s growth, fostering financial inclusion and prosperity. A seasoned player like Annapurna having traversed multiple cycles, is well positioned to capture the growth opportunity. Through Piramal Alternatives, we are committed to providing bespoke and value-accretive capital to support Annapurna’s growth aspirations in this promising sector.”

Gobinda Chandra Pattanaik, Managing Director and CEO, Annapurna Finance Private Limited said, “The growth capital from Piramal Alternatives will provide the necessary ammunition for business diversification and help consolidate our leadership position in key markets. Credit penetration in microfinance continues to be low and with the right capital and partner, we can script a profitable growth story. We are excited to partner with Piramal having strong expertise in financial services domain and look towards leveraging its resources and capabilities as we embark on our next journey where we intend to grow and make an impact in the life of our customers and conservation of our environment by providing more green products.”

Business World

Piramal Group Announces the Appointment of Kalpesh Kikani as CEO, Piramal Alternatives

Feb 24, 2021 by Neel Achary 0 Comments #CEO, #Kalpesh Kikani, #Piramal Alternatives, #Piramal Enterprises Limited

Mumbai, India: Piramal Enterprises Limited (‘PEL’, NSE: PEL, BSE: 500302) today announced the appointment of Kalpesh Kikani as Chief Executive Officer (CEO) of its INR 11,000+ crore AUM Alternatives Business managed through its subsidiaries and joint ventures, which leverages Piramal Group’s long standing partnerships with marquee Global investors such as CDPQ, CPPIB, APG, Ivanhoé Cambridge and Bain Capital.

Kalpesh comes with over twenty five years of expertise in investing and financial services including a decade as founding Managing Director at AION Capital (a JV between Apollo Global Management and ICICI Group). AION Capital is a pioneer in building an India focused private equity business with a focus on value, credit and control. At AION, Kalpesh led both fund raising and deployment of over $1.25 billion of capital and served on the boards of several its portfolio companies.

Previously, Kalpesh spent over 15 years at ICICI Bank. Kalpesh played a significant role in building the bank’s commercial banking business to over $10 billion in assets and the structured finance business to over $ 5 billion in assets. Prior to that, Kalpesh setup and built the bank’s corporate and investment banking business in London to $ 4 billion in assets. Earlier, Kalpesh was part of the retail banking team at the time of the merger of ICICI Limited and ICICI Bank Limited. Kalpesh started his career at ICICI Limited in project finance where he participated in multibillion dollar corporate and infrastructure financing.

Kalpesh holds a Bachelor of Engineering Degree in Computer Science and an MBA in Finance from Bombay University and is a member of the CFA Institute, USA.

Commenting on the appointment, Anand Piramal, Executive Director, Piramal Group said, “We are delighted to welcome Kalpesh to the Piramal family. Kalpesh brings with him, rich experience in building an alternatives business of global scale and standard in India, a 25 year+ track record of successfully investing in India and strong relationships with leading global investors.

While globally, alternative assets have grown rapidly over the last 10 years to over US$ 11 trillion, in India the asset class has grown much faster at over a 20% CAGR, making it one of India’s highest growth opportunities.

Our desire is to create a world class Alternatives business across multiple asset classes that helps fill a significant deficit of long-term risk capital needed by Indian businesses as they help fuel India’s journey to a $5 trillion economy. The Alternatives business, is another step in building a new age, digitally driven, diversified financial services conglomerate at Piramal.”

“I am excited to join the Piramal team,” said Kalpesh Kikani, CEO, Piramal Alternatives. “Piramal Alternatives has a great business model, has partnered with best-in-class global investors, and is uniquely positioned to build a leading home grown Alternatives business across private debt, private equity, and infrastructure, amongst others. As the Indian economy evolves, Piramal Alternatives can be a significant provider of customized financing solutions to high quality Indian corporates who are looking to maximize their potential.”