Professional Documents
Culture Documents
Arun Panchariya
Arun Panchariya
ARUN
PANCHARIYA
Arun
Panchariya
has
over
20
years
of
rich
experience
in
entrepreneurship,
industry
and
trading,
spanning
across
a
broad
range
of
geographic
locations
and
deal
sizes.
He
is
adept
in
the
trading
of
direct
equities,
commodities,
futures,
derivatives
and
other
financial
and
money
market
instruments.
He
offers
advisory
and
consulting
services
for
international
offerings
of
Indian
and
international
listed
&
non-listed
companies
and
has
strong
ties
with
debt
providers
and
equity
sponsors.
I
started
earlymy
foundation
in
the
manufacturing
industry
helped
me
gain
a
lot
of
experience
in
grassroots
businesses
TEXTILE
AND
MANUFACTURING
Arun
started
his
career
in
1992
at
a
proprietary
concern-
Alka
Textile
Mills,
and
was
primarily
engaged
in
the
business
of
manufacturing
and
trading
of
textiles,
and
marketing
of
its
products
in
the
western
region
of
India.
In
1994/95,
Arun
joined
Alka
Spinners
Ltd.
(later
known
as
Alka
India
Ltd)
as
a
full-time
director.
It
is
here
that
he
gained
experience
in
the
manufacturing
of
100%
cotton
yarn,
blended
yarn,
textile
and
spinning
yarn.
He
also
learnt
soft
skills,
administrative
skills
and
corporate
culture
at
Alka
India.
Incidentally,
Arun
made
his
first
foray
into
the
financial
services
during
this
period,
when
he
successfully
handled
the
Greenfield
project
IPO
of
the
company.
Being
a
whole
time
director,
Arun
personally
designed
the
fund
raising
program,
and
in
the
process
learnt
in
detail
about
working
capital,
term
loans,
commercial
loans
and
the
underlying
processes
for
the
same.
Arun
joined
Panchariya
Gin
Pvt.
Ltd.
in
1998,
where
he
learnt
all
about
the
ginning
industry.
Dealing
with
suppliers
(farmers)
buying
cotton,
interacting
with
distributors,
wholesalers
and
traders
built
my
negotiation
strengths
and
more
importantly,
I
learnt
how
to
deal
with
different
kinds
of
people.
I
also
learnt
how
important
agricultural
products
are
in
our
day-to-day
life
and
how
farmers
work
hard
to
provide
the
same
Alka
India
started
its
100%
export-oriented
software
business
around
the
same
time,
so
Arun
completed
his
MCSD/MCSE
courses
and
handled
this
new
stream
of
business
as
well.
During
this
period,
Arun
was
also
a
Director
with
Karnavati
Fincap
Limited,
which
then
changed
its
name
to
Vasudev
Textiles
&
Industries
Limited,
and
was
then
sold
to
new
management.
This
company
is
now
known
as
Asian
Granito
Limited,
now
one
of
the
largest
players
in
the
tile
industry
in
India.
The
decline
in
the
textile
industry
made
Arun
look
at
other
avenues
of
business,
and
in
1999,
was
appointed
as
the
CEO/MD
of
Kuber
Cooperative
Bank.
It wasnt easy leaving my comfort zone in textiles and entering financial services. I had the IPO experience, but this was a different ball game altogether. However, I took it as a challenge to prove myself BANKING- THE FIRST STINT At Kuber, Arun dealt with all aspects of retail banking, housing loans, trade finance and commercial banking. He handled RBI audits, learnt banking policies, and attended numerous seminars to keep himself up-to-date with the latest in the banking industry. His hard work showed great results- at the time of taking over the bank, its capital & networth was 3 million INR, this increased to 20 million INR(inclusive profits and reserves) by the time he retired in 2003, and all its financial years ended in profit. The performance graph of the bank during his tenure was always taking up the ladder . Business travel always excited me, the prospect of meeting new business people, exploring new business ideas. I still travel extensively, clocking in an average of 20 travel days a month! COMMODITY TRADING In the year 2000, Arun started traveling to the UAE, where he saw exciting trading opportunities. This resulted in him establishing a general trading company- Vintage FZE, in Jebel Ali Free Zone in Dubai. Initially trading in computer hardware, software and copier paper, Vintage expanded its trading portfolio to include aluminum, heavy metal scrap, copper scrap and commodities like rice, pistachios, saffron and vegetables. This hands-on experience in commodity trading helped Arun build his base in the trading industry, and he grew the company from a turnover of US$ 1.3 million at inception to an impressive US$ 141 million in 2009. Meanwhile Alka India also started a division for trading of physical gold and silver bullion, and this too was overseen by Arun. The success of Vintage FZE prompted Arun to shift base to Dubai, and he voluntarily retired from Alka India and Kuber Bank, so that he could focus on his trading business which he found more exciting. In 2003, Arun became a member of the DGCX and also entered into a tie-up to market the FX online trading platform of RCG FX London, which was owned by the 2nd largest commodity broker in Chicago- RCG Group. During his visit to London, Arun was impressed by the financial market there and saw a lot of opportunity for business. I was impressed by the work environment in London, the pulse of the financial centre. This was something I wanted to be part of, and I knew I could capitalize on my banking and IPO experience and create a financial services company FINANCIAL SERVICES Pan Asia Advisors, an international corporate advisory firm and boutique investment-banking firm was set up by Arun in 2006. Through PAA, he advised international corporate on Private Equity, Mergers & Acquisitions, GDR, FCCB and debt funding. Arun worked on numerous transactions and assisted, both directly and indirectly, in raising fund of more than USD 2 billion
in the international market for global corporates. PAA also assisted clients in listings on the Luxemborg, DIFX and Singapore stock exchanges. I have exposure on various sectors-Media, Telecommunications, films, broadcasting, textiles, sugar, metal, retail, oil, industry and pharma among others. This gave me a deep insight into many business verticals, and I wanted to do more INVESTMENT BANKING Having gained rich experience in a variety of business sectors, Arun now set his sights on the investment banking business. His trips to Europe brought him into contact with a private bank in Vienna- Euram Bank. This resulted in a joint venture investment bank set up by PAA and Euram Bank and christened Euram Bank Asia Ltd., was established in the DIFC in 2008. Arun was appointed President of the bank, and the head of corporate finance and investment banking. He spearheaded a number of transactions in the first two years itself, notable mentions being a USD 3 billion deal for an oil and gas industrial park in Malaysia and gold, coal mining and oil refinery deals in East Asia, Australia and Africa. Under his leadership, Euram Asia declared 95% dividend in Year 1 and 90% dividend in Year 2, which was a huge achievement in itself. Investment banking brought me to the other side of traditional businesses; while my heart lay in the operational aspects of the business, my mind knew that investments drove such ventures...a dichotomy of sorts INVESTMENT FUNDS During 2007, Arun started working on setting up a structure to enter the investment funds business. The result was Cardinal Capital Partners, a fund management company set up in Mauritius and regulated by the FSC, and registered with SEBI as an FII as well. CCP promoted and managed IFCF, which started operations with an AUM of US$ 3 million and a Net Asset Value of US$ 1 per Share. By 2010, the fund had grown to an AUM of US$ 110 million, with an NAV of US $ upto 5.34 per share. Arun resigned from IFCF in June 2010, due to his pressing commitments at EBAL. SHIPPING & LOGISTICS In 2006-07, Arun set up Vintage shipping and logistics, a short stint in the logistics business. It didnt do as well as expected, partly because of bad market conditions prevailing at that time. Vintage shipping reinforced one lesson- timing is critical. It didnt work out, but I will not give it up until it does!
ALLEGATIONS In September 21st 2011, Arun was caught unawares by a malicious allegation leveled by SEBI on PAA and himself. This was particularly surprising since both PAA and he did not even come under the jurisdiction of the regulator. SEBI issued an interim order pending investigation which they subsequently went ahead and confirmed on 17th Jan 2012, again pending further investigation. The SEBI allegations, though unfounded and baseless, rocked my boatI resigned from EBAL immediately, resolving to prove my innocence and clear my name. I left India in the year 2002 and became an NRI to expand my business in the International markets where I am regulated. I am answerable to regulatory bodies local to the jurisdictions where I operate, but not to SEBI. . CURRENT STATUS Joined Signature Group on 16th January 2012 as director & partner. Signature is a private equity and corporate finance firm focused on the emerging markets of India, GCC and Africa. It currently manages US$ 1.2 billion of investments in these markets. Arun is also an advisor to The Falcon Fund Limited, which invests in the mining industry globally. AWARDS AND RECOGNITION Arun was honored with the Business Person of the Year 2010 award at the 11th Asian Achievers Awards held at Wembley Stadium, London. The AAA recognizes the various outstanding roles played by Britains Asian community, Arun was also bestowed with the Asian Banker of the Year 2010 award by Asian Whos Who International; he received this recognition from Ms. Cherie Blair in London.