Bhupinder Singh

Founder, InCred Group

Bhupinder Singh has over two decades of experience in financial services. He has a track record of identifying and building successful businesses across Credit/Fixed Income, Equities and Investment Banking. He founded the InCred Group in 2016 with an aim to build a world-class diversified financial services company. InCred Retail started in 2016 and InCred Capital in 2018. Prior to this, he was the head of the Corporate Finance division of Deutsche Bank and co-headed the Fixed Income, Equities and Investment Banking divisions for the Asia Pacific region. He has a PGDM from IIM, Ahmedabad and an undergraduate degree in engineering

Venky Vishwanathan

CEO – Investment Banking & Capital Markets

Venky has over 20 years of experience in Wholesale and Investment Banking, with nearly a decade spent in building and running Indian businesses. Prior to joining InCred Capital, he was Deutsche Bank’s Head of Capital Markets and Treasury Solutions, Asia and Co-Head of Corporate Finance, Asia, based in Singapore – a US$ 1 billion top-line business with 300+ bankers. He was previously the Co-Head of the European Financial Institutions Group with Deutsche Bank in London and held senior positions encompassing Structured Finance, Capital Markets and Corporate Finance. He has a PGDM from IIM, Calcutta and an undergraduate degree in Economics from St Stephen’s College, Delhi

Investment Banking Team

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M Ramprasad

Chairman, Investment Banking

Ram has 25+ years of experience in investment banking, private equity and fundraising. He co-founded MAPE Advisory – a boutique Indian Investment Bank focused on mid-market companies. Prior to MAPE, he was a Senior VP at Merrill Lynch India, heading the South India operations. He has a PGDM from BIM Trichy.

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Jacob Mathew

Chairman, Investment Banking

Jacob has 25+ years of experience in investment banking, private equity and fundraising. He co-founded MAPE Advisory – a boutique Indian Investment Bank focused on mid-market companies. Prior to MAPE, he was a VP (M&A) at Merrill Lynch India, and prior to that, he was instrumental in setting-up the corporate finance practice at PwC India. He has a PGDM from IIM Calcutta and is a Civil Engineer.

Akhbar Khan

Akbar Khan

Chairman, Investment Banking

Akbar has 20+ years of experience in investment banking, corporate M&A, consumer and corporate finance, and fintech. He has held senior positions with leading financial institutions such as Merrill Lynch, GE, and PwC, and has deep expertise in sell-side advisory, buy-side acquisitions, and business management. During his time at Merrill Lynch, Khan led TMT Investment Banking, Financial Sponsors coverage, and M&A across India, Europe, the Middle East, and Africa. At GE, he was the head of Corporate Development and M&A for India, the Middle East, and North Africa. Akbar has also spent 10 years as an entrepreneur.

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Anjani Kumar

Chairman, Investment Banking

Anjani has 27+ years of banking experience spanning M&A, Capital Markets, and Corporate Finance. He has led the investment banking teams for CIMB and RBS in India and comes to us with significant domain experience in infrastructure, energy & renewables, industrials, healthcare and technology. Anjani started his investment banking career with PwC Corporate Finance, followed by ABN AMRO, RBS, CIMB, and o3 Capital. He has also worked overseas in London and HongKong for over 5 years. Most recently, Anjani was founder and CEO at Asialink Advisors, a niche advisory outfit focused on cross border M&A and fundraising.

N. Håkan Wohlin

Senior Advisor, New York

Håkan Wohlin is a Senior Advisor at Incred Capital, based in New York, with over 30 years of experience in investment banking and finance. In his own time, Håkan runs his own multinational advisory platform, Kingsrock advisors. He led a successful career at Deutsche Bank as the Global Head of Debt Origination and the Head of European Capital Markets Origination. His expertise and experience has distinguished him as one of the most seasoned advisors in the field.

Preetam Patnaik

Head of Cross Border Investment Banking – India / Middle East and Africa

Preetam has 20+ years of experience in wholesale and Investment Banking across the EMEA region with bulge bracket platforms like Goldman Sachs, UBS and Societe Generale. In his last role at Societe Generale, Preetam led the establishment and growth of the private capital franchise for the bank across Emerging Markets based in London. Preetam has done his MBA from IIM Ahmedabad.

Arjun Mukherjee

Managing Director

Arjun has over 13 years of experience in corporate finance across M&A and private equity. He has worked primarily in the Industrials sectors, FMCG and real estate. He was previously associated with Macquarie Capital, Ambit Corporate Finance and Lazard. He is an MBA from AGSM, Sydney and BA (Hons) in Economics from Delhi University.

Ashim Ahuja

Managing Director & Head Coverage

Ashim has 22+ years of experience in investment banking, private equity investing and fundraising. He has an investment banking experience of over 18 years at global firms such as Deutsche Bank, Credit Suisse and HSBC. He has an MBA from FMS Delhi and a B.E. in Computer Engineering.

Ashish Ambwani

Managing Director

Ashish Ambwani has 15+ years of experience in investment banking and other advisory services with a focus on cross border M&A & PE. Prior to his current role, he was a Managing Director at Goldstein Roth & Co. and Director at Lazard for over 12 years. He has an MBA from the Indian Institute of Management, Lucknow and a degree in Electrical & Electronics engineering.

Nikunj Seksaria

Managing Director

Nikunj has 20+ years of experience across geographies including USA, UK, India, Singapore and the GCC in corporate finance advisory roles. He served as a Managing Director and led the Indian Financial Institutions Group practice at Citigroup as a strategic advisor. He graduated from The University of Texas, Austin with a double degree in Finance and Economics.

Shreyan M L

Director

Shreyan had 17+ years of experience primarily focused on Pharmaceutical sector spanning roles across management consulting, Corporate M&A & Investment banking. Shreyan has worked on landmark M&A transactions at Strides and Sequent, besides setting up the pharma practice at Spark Capital. By qualification, Shreyan is a computer engineer from NIT, Karnataka and MBA from IIM Indore.

Structured Finance Solutions Team

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Saumya Mittal

Managing Director, Special Situations and Structured Credit

Saumya has extensive experience in risk management and structured credit trading, including special situations, structured lending and credit hybrid structures. He was previously the Asia-Pacific Head for Credit Counterparty Trading in the Fixed Income Division at Deutsche Bank in Singapore, managing a risk book of US$ 1 bn. He has a PGDM from IIM, Ahmedabad and an undergraduate degree in electrical engineering from Indian Institute of Technology, Delhi

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Abhijit Rao

Managing Director, Special Situations and Structured Credit

Abhijit has 25+ years of experience across various corporate and investment banking positions. Prior to joining InCred Group he co-founded a debt advisory firm – Polestar, 5 years ago. Prior to Polestar he spent nearly 2 decades at Rabobank and ICICI. Abhijit has an MBA in International Finance from Narsee Monjee Institute of Management Studies and a Bachelors in Mechanical Engineering.

Debt Trading and Capital Markets Team

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Manish Verma

Managing Director, Debt Trading and Capital Markets

Manish has 30+ years of experience in Indian Debt Markets. He co-built the Wholesale Debt Market practice at Trust Capital Services and was responsible for overseeing the proprietary book, PF sourcing, placement of primary CP and bonds (PSU & Pvt), secondary market, risk management, and credit underwriting.

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Rano Verma

Managing Director, Debt Trading and Capital Markets

Rano has 25+ years of experience in Indian Debt Markets. She built the Wholesale Debt Market practice at Trust Capital Services, with a market leadership enjoying ~25% market share. She was responsible for developing a niche for the Trust Group in the high growth credit space.

Institutional Equities Research Team

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Satish Kumar

Managing Director, InCred Research

Satish has 20 years experience in equity research, widely covering the Metals and Mining, Oil and Gas, Utilities, Cement, Chemicals and Capital goods sector. Prior to InCred he was the Head of Equities at Equirus Group.

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Pramod Amthe

Head of Equity Research and Automobile sector Analyst

Pramod has 22+ years’ experience in equity markets. Prior to CIMB, he has worked with RBS/ABN AMRO India for six years and with domestic brokers for 4 years. He has been tracking Indian auto sector for last 10 years and diversified to cover construction and infra space. Pramod holds a Bachelor of Mechanical Engineering and an MBA degree.

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Krishnan Viswanathan

Head – Strategy & Account Servicing (SAS)

Krishnan has over 23 years’ experience in both trading and sales roles, servicing clients in India and APAC geographies. He has been recognized widely across various domestic institutions and has been involved in selling research, deals & IPOs. Prior to joining Incred, he was instrumental in setting Haitong India’s sales desk. Before Haitong has worked in organizations like Ambit, Standard Chartered, Centrum, CITI & I-Sec. He has graduated in physics and has done post-graduation in management specializing in finance.

Vijay Gomatam

Consultant – Investment Banking

Vijay Gomatam has over 20 years of banking experience across M&A, corporate finance, capital markets, and corporate banking, with a strong focus on cross-border deal origination and execution across India, Southeast Asia, Japan, and Australia. He has deep sector expertise in industrials, IT services, media, and telecom, with extensive experience in India - Southeast Asia and India–Japan transactions. Vijay previously served as Director at MUFG Bank, Singapore, where he led the India - Japan M&A corridor, and earlier worked with Deutsche Bank, Merrill Lynch, Houlihan Lokey, and Edelweiss Alternative Asset Advisors.

His transaction experience includes Motherson Group’s acquisition of TSE-listed Yachiyo Industries, Takahata India’s stake sale to SPRL, Toppan Form’s acquisition of PT RDS in Indonesia, Mitsui’s investment in FKS Food & Agri, CVC’s investment in PT LinkNet, and capital market transactions for Southeast Asian media and telecom clients including SingTel, Axiata, and Bakrie Group.

He holds an MBA from IIM Calcutta and a B.E. (Hons.) from Nanyang Technological University, Singapore.

Akbar Khan

Senior Advisor – Investment Banking

Akbar Khan has over twenty years of experience across M&A advisory, Private Equity, and Corporate M&A, along with a decade as an entrepreneur and operator. He has held senior roles at Bank of America Merrill Lynch in India and London, where he led Telecom & Technology Investment Banking, Private Equity coverage, and M&A, and at General Electric, where he served as Head of Corporate Development and M&A for India and the MENA region. He has advised global corporates and financial sponsors including Reuters Plc, Telecom Italia, Hellenic Telecom, MTN, Tata Group, Apax Partners, Warburg Pincus, and TA Associates, and has led several notable transactions. These include advising E2E Networks on

its USD 50M capital raise, QuEST Global on its USD 75M Series B private placement to Warburg Pincus, Rain Technologies on its USD 65M Series A financing from QED Investors and Invus, Augnito.ai on its Pre-Series A raise from Apollo Hospitals Group, Tata Consultancy Services on the acquisition of Citigroup’s captive back-office unit, Forthnet in Greece on the acquisition of Netmed, and Telecom Italia on the sale of Cosmote via a leveraged buyout by Apax Partners and TPG.

In addition, Akbar co-founded and served as CEO of Rain Technologies India an earned wage access fintech platform.

He holds an MBA from London Business School and is a UK-qualified Chartered Accountant.

Shreyan ML

Managing Director – Healthcare & Pharma

Shreyan ML leads the healthcare and pharma investment banking practice and brings over 15 years of experience across investment banking, corporate M&A, and management consulting within the pharmaceutical sector. Prior to joining MAPE, he worked with Spark Capital, Strides Group, Wanbury Limited, and Tata Strategic Management Group.

His deal experience includes advising Curatio Healthcare on the sale of its business to Torrent Pharmaceuticals; Sale of TTK’s human pharma business to Bharat Serums; Glenmark Pharmaceuticals on the sale of the Razel brand to KKR-backed JB Chemicals & Pharma and the sale of nine dermatology brands to Eris Oaknet.

As Corporate M&A Head at Strides Group, he was involved in thesale of Agila to Mylan and led the animal health strategy at Sequent Scientific, executing over 12 transactions including fundraises and cross-border acquisitions.

He holds an MBA from IIM Indore and is a computer engineer from NIT Karnataka.

Arjun Mukherjee

Managing Director – Investment Banking

Arjun Mukherjee brings over 20 years of investment banking experience, with a strong focus on mergers & acquisitions and capital raising across Industrials, Education, Telecom, Cement, and Healthcare sectors. Prior to joining InCred Capital, he was part of the senior leadership team at MAPE Advisory Group for over a decade and has previously worked with Lazard, Ambit Capital, and Macquarie Capital.

His deal experience includes advising Veranda Learning on multiple acquisitions and its IPO, Emami on its bid for Paras Pharma, HeidelbergCement on the acquisitions of Mysore Cement and Indo Rama Cement, Italcementi on the acquisition of Sri Vishnu Cement along with an open offer, Bharti Airtel on the acquisitions of Hexacom India and the Spice Calcutta circle, as well as the sale of NLD rights to VSNL, Advent on its bid for Lafarge India.

He has also advised Jagdale Industries on the sale of its electrolyte drinks brand to Johnson & Johnson, promoters of Orissa Sponge on stake sales to Bhushan Steel and Monnet Ispat and on takeover defence, Fortis Healthcare on takeover defence and the sale of a minority stake to Khazanah, ICI India on the sale of its Nitrocellulose business to Actis and its rubber chemicals business, Jai Balaji Industries on the sale of its DI pipe unit and on QIP fund raising, Orbit Corporation and Ansal APIL on QIP-led equity fund raises, Walton Street Capital on raising a USD 500 million India-focused real estate fund, and on acquisition debt funding for the purchase of the RL Fine Chem API business.

Ashish Ambwani

Managing Director – Investment Banking

Ashish Ambwani has two decades of investment banking experience with a focus on cross-border M&A and Private Equity, and deep sector expertise across Consumption &Retail, Industrials and Digital businesses. He previously served as Director at Lazard for over 12 years and began his career at KPMG.

He has worked on numerous transactions including Osam Dairy’s sale to Dodla Dairy, Livpure’s capital raise from M&G Investments, QIMA’s acquisition of EFRAC Limited, Raymond Consumer Care’s FMCG sale to Godrej Consumer, IPO of Ethos Limited, Manohar Packaging’s sale to Parksons Packaging, MM Polytech’s sale to Huhtamaki, YY Inc.’s acquisition of Bigo, Kama Ayurveda’s fund raise and sale to Puig, Magnet360’s sale to Mindtree, Danone’s acquisition of Wockhardt nutrition assets, UCB’s sale of Indian brands to Dr Reddy’s, Sabero Organics’ sale to Coromandel, International Paper on its acquisition of AP Paper, Avantor on its acquisition of RFCL.

He holds an MBA from IIM Lucknow and a has a degree in Electrical & Electronics Engineering from NIT Trichy.

Jacob Mathew

Consultant- Investment Banking

Jacob Mathew brings over 25 years of experience in investment banking, private equity, and fundraising. He co-founded MAPE Advisory, a boutique investment bank focused on mid-market companies. Prior to MAPE, he was a Vice President (M&A) at Merrill Lynch India and played a key role in setting up the corporate finance practice at PwC India.

He has worked and led numerous transactions including the acquisition of Coats Viyella’s garment business by the AV Birla Group, the sale of Burnol and Coldarin brands, Dr Reddy’s buyout of American Remedies, and the sale of Diamond Dychem to Ciba AG. At MAPE, he led transactions across technology, telecommunications, consumer, healthcare, and retail sectors. His key clients include Coffee Day Enterprises, Strides, Igarashi Motors, J&J India, and Jyothi Labs.

He holds a PGDM from IIM Calcutta and is a Civil Engineer.

M Ramprasad

Consultant – Investment Banking

M Ramprasad has over 25 years of experience across investment banking, private equity, and fundraising. He co-founded MAPE Advisory, a boutique Indian investment bank focused on mid-market companies, which later merged with the Investment banking team at InCred in 2020. Prior to MAPE, he was a Senior Vice President at Merrill Lynch India, leading South India operations.

He has led marquee transactions for leading business groups including Tata Group, DuPont, ICICI Bank, Dr Reddy’s, and Sify, and at MAPE advised on landmark deals across manufacturing, infrastructure, and financial services. His key clients include Murugappa Group, ELGi Equipments, Curatio, Jyothi Labs, Karvy Financial Group, Star Health, and CRH Group.

He holds a PGDM from BIM Trichy and a degree in Chemistry.

Sanjay Singh

Head of Investment Banking – InCred Capital

Sanjay Singh is the Head of Investment Banking at InCred Capital, where he leads coverage across both advisory and equity capital markets. He brings over 20 years of experience across investment banking, strategy, and operations, with deep expertise in the pharmaceuticals and healthcare sectors.

Prior to joining InCred, he held leadership roles at BDA Partners as Head of India and Co-Head of Healthcare Asia, and at KPMG as Partner and Head of Life Sciences in India. He has also worked with Dr. Reddy’s Laboratories and Glenmark Pharmaceuticals.

His transaction experience includes advising Chemfield Cellulose on its divestment to Oji Holdings, Archimica S.p.A. on its acquisition by PI Industries, Synokem Pharmaceuticals on growth investment from TA Associates, Isagro SpA on the divestment of Isagro Asia Agrochemicals to PI Industries, SMT on its equity raise from Morgan Stanley Private Equity, Astec LifeSciences on the sale of equity to Godrej Agrovet and Nihon Nohyaku on its acquisition of Hyderabad Chemical Limited amongst others.

Sanjay holds an MBA from IIM Bangalore and a B Tech from IIT BHU.